The global marine industry is finally catching its electric wave — and Swedish deeptech startup Zparq is leading the charge.
The Stockholm-based company, born out of KTH Royal Institute of Technology, has secured €5.5 million in EU funding from the EIC Accelerator program, one of Europe’s most competitive innovation grants. Out of more than 1,000 applicants, only 40 startups were selected.
The fresh capital will accelerate the industrial scale-up of Zparq’s Z10 platform, an ultra-compact, modular electric drivetrain designed to power everything from leisure boats to commercial and rescue vessels — all without the noise, emissions, or complexity of traditional combustion engines.
Reinventing Marine Power from the Ground Up
Founded in 2020 by Jonas Genchel, Mikael Sundberg, Nicholas Honeth, and Ivan Stenius, Zparq emerged from a collaboration at KTH, blending expertise in mechanics, electromechanics, and marine systems.
Their mission? Replace the outdated, polluting propulsion systems that dominate the world’s waterways with clean, efficient, circular electric technology.
“We’ve completely reimagined the motor,” said CEO Jonas Genchel. “Our drivetrain is 10 times smaller than anything else on the market for the same power output. It has no gears, no seals, no moving parts — and can even be powered entirely by solar.”
Zparq’s patented direct-drive architecture removes mechanical friction points, drastically cutting maintenance needs and boosting efficiency. The company’s proprietary cooling system allows for sustained performance in demanding marine environments — a major leap forward in both design and durability.
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The Z10 Platform: Compact Power Meets Circular Design
At the heart of Zparq’s innovation is the Z10 platform — the world’s most compact, modular electric marine drivetrain.
Its lightweight design reduces raw material usage and CO₂ emissions during production by up to 60%, aligning with Europe’s decarbonization targets and circular manufacturing principles. Beyond propulsion, the system integrates smart battery management, advanced safety controls, and anti-theft technologies, setting a new benchmark for reliability in electric marine mobility.
Ongoing pilot programs with OEMs and boatbuilders across Europe are already validating the Z10’s performance in real-world conditions — from high-speed leisure craft to heavy-duty rescue boats.
Backed by Europe’s Deeptech Ecosystem
Zparq’s €5.5M in blended financing combines grant and equity support under the EIC Accelerator, a flagship EU initiative backing breakthrough technologies with global impact.
“This support allows us to finalize Z10 development, move into full-scale production, and deepen our partnerships in the global transport sector,” Genchel said.
The company plans to ramp up industrial manufacturing through 2025, expand its European market footprint, and explore partnerships in North America and Asia.
A Silent Revolution on the Water
As global regulators tighten emissions standards for maritime transport, the opportunity for sustainable propulsion is massive. Zparq is positioning itself as a frontrunner in what could become one of cleantech’s next big frontiers — the electrification of marine mobility.
By merging deeptech engineering with circular design thinking, Zparq is proving that the future of boating doesn’t just need to be faster — it needs to be cleaner, quieter, and built to last.
About Zparq
Zparq is a Swedish deeptech company pioneering next-generation electric drivetrains for marine propulsion. Founded in 2020 and spun out of KTH Royal Institute of Technology, Zparq develops scalable, circular, and high-performance motor systems for commercial, leisure, and rescue watercraft. Backed by the EIC Accelerator, Zparq’s mission is to redefine marine propulsion for a sustainable future — clean, quiet, and carbon-free.
