rss icon Subscribe
desktop mobile

Torqeedo Acquired by DEUTZ

Posted by Eric Haun

Torqeedo Acquired by DEUTZ

Independent engine manufacturer DEUTZ announced it has acquired Torqeedo, provider of electric drive systems for watercraft.
As an independent subsidiary of DEUTZ AG, Torqeedo will continue product development under its established Torqeedo brand and with its current leadership.
Founded 12 years ago in Starnberg, Germany, and supported by venture capital so far, DEUTZ said the acquisition marks a new phase in its development.
"As part of DEUTZ, Torqeedo will realize substantial opportunities in the areas of industrialization, supply chain management, sales and service. We will use these to further accelerate the development of sustainable and modern mobility on the water," said Christoph Ballin, CEO of Torqeedo.
Since its market entry in 2006, Torqeedo has achieved an average annual growth rate of 35 percent. Sales in the last financial year amounted to EUR 25 million, which corresponds to a growth of more than 40 percent. The company employs 130 people at its locations in Gilching near Munich, Crystal Lake (Illinois, USA) and Bangkok (Thailand).
DEUTZ is a pioneer in the development of combustion engines as an independent manufacturer of highly efficient natural gas and diesel engines for the industrial, agricultural and commercial vehicle market since 1864. In Torqeedo, DEUTZ gains development expertise and years of proven product experience in all aspects of electric mobility. Within the framework of the new E-DEUTZ strategy, DEUTZ will bring these sustainable electric and hybrid technologies to its existing product lines.
Torqeedo's leadership will assume additional roles in the top management of DEUTZ AG: CEO Dr. Christoph Ballin as Head of Strategy, and Torqeedo's COO, Dr. Ralf Plieninger, as Head of Electrification. As the new Chief Financial Officer (CFO) of Torqeedo, Heiko Brambach is appointed to the management board. The 40 year-old business manager began his career at PricewaterhouseCoopers and was most recently Head of Controlling Products at DEUTZ.

Sep 27, 2017

 QRCode for link to Torqeedo Acquired by DEUTZ story
 

Marine Equipment

Odfjell Says It Will Not Install Scrubbers

(Photo: Odfjell)

Chemical tanker firm Odfjell said it will not invest in scrubbers to clean fuel on its vessels to

Maersk to Install Scrubbers on Select Vessels Ahead of 2020

(File photo: Maersk Line)

A.P. Moller-Maersk, the world's biggest container shipping group, will add devices to reduce

Dellner Brakes Acquires JHS Jungblut

Dellner Brakes JHS passive yaw sliding bearing for wind turbines (Image: Dellner Brakes)

Swedish-based marine and industrial brake supplier Dellner Brakes said it has acquired German

Marine Power

The Switch Scores Its Largest Marine Contract to Date

(Photo: Yaskawa Environmental Energy / The Switch)

advanced drive train technology specialist Yaskawa Environmental Energy / The Switch said it has

Rolls-Royce Launches New LNG Bergen Engine

(Image: Rolls-Royce)

Rolls-Royce has unveiled the Bergen B36:45 model, its latest in a series of liquefied natural gas

ZF Condition Monitoring Optimizes Operations

The ZF Condition Monitoring System for marine propulsion systems increases operational safety by monitoring the core components in the driveline. (Image: ZF)

Monitoring current data from the driveline as well as the status of core components makes it

Marine Propulsion

Rolls-Royce Launches New LNG Bergen Engine

Rolls-Royce has unveiled the Bergen B36:45 model, its latest in a series of liquefied natural gas (LNG) fueled marine engines, at the SMM maritime exhibition in Hamburg.

ZF Condition Monitoring Optimizes Operations

Monitoring current data from the driveline as well as the status of core components makes it possible to avoid failures and plan maintenance work effectively.

Shell Marine Discusses Engine Protection Beyond 2020

Joris Van Brussel, General Manager of Shell Marine (Photo: Shell Marine)

Marine lubricant choices to address International Maritime Organization (IMO) restrictions on the