• The investment will support Echandia, a leading Swedish supplier of maritime battery systems, in its global expansion, including a new production facility in the U.S., to meet the growing demand for maritime battery solutions
• Echandia joins Klima’s diverse portfolio of eight high-growth companies driving innovation in energy transition
• Klima is supported by Alantra, Enagás, the European Investment Fund, the Canadian Pension Fund, and Axis ICO, reinforcing its role in financing sustainable energy solutions
Stockholm, 3 March 2025 – Alantra’s energy transition fund, Klima, has led a €19.6mn financing round for Echandia, a leading Swedish supplier of maritime battery systems. The round also attracted new investors, including Swedish funds Industrifonden and SEB Greentech VC, as well as Japanese venture capital firm EEI.
The capital raised will support Echandia’s global expansion and enhance its production capabilities in Sweden and the U.S. As part of this growth, the company is establishing a new production facility in Washington State, where it will manufacture its advanced maritime battery systems.
The funding will allow Echandia to scale its operations more rapidly and take on larger projects to meet the increasing demand for maritime battery solutions. With shipping accounting for 3% of global CO₂ emissions, decarbonization is a key challenge. Echandia’s technology is particularly well-suited for ferries and navy vessels, where safety and resilience are critical.
Torbjörn Bäck, CEO of Echandia, said: “Echandia is at the forefront of maritime electrification globally, helping customers reduce emissions with clear customer values such as safe, resilient and long-lasting maritime battery systems. We are proud to have closed this large funding round with well-known investors, marking a major milestone for us. Our revenues grew fourfold in 2024 compared to 2023, and with our current sales pipeline, we expect our revenues to triple in 2025. We look forward to continuing Echandia’s scale-up and expansion with our new, highly experienced investors on board.”
Manuel Alamillo, Partner at Alantra’s Energy Transition fund, Klima, added: “Decarbonizing hard-to-abate sectors like shipping, aviation, and heavy industry is critical to achieving our global climate goals. These sectors represent a significant portion of global emissions, accounting for about 30% of global GHG emissions and they lack readily available solutions. Investing in these sectors isn’t just an environmental imperative, it’s an economic one. By investing in and supporting Echandia’s energy storage solutions, we are excited to accelerate the decarbonization of the maritime sector.”
Anna Ljungdahl, Head of Sustainable Investments and Senior Investment Director at Industrifonden, concluded: “Echandia is at the forefront of innovation, meeting the demanding requirements of sectors like military and defense, making its solution truly remarkable. We look forward to commercializing the product globally alongside the team and a strong international investor base, providing financial stability and industry expertise.”
The financing round brings Echandia into Klima’s portfolio, which now includes eight companies: MainSpring Energy, Meteomatics, Sunroof, Enmacc, Eturnity, GridBeyond, and SWTCH Energy. The investment follows Klima’s recent participation in Meteomatics’ Series C funding round last month, aimed at scaling the company’s high-resolution weather technology and expanding into the U.S.
Alantra’s €210mn energy transition fund, Klima, invests in high-growth companies across key energy transition sectors. Supported by Alantra and Enagás as sponsors, Klima also counts the European Investment Fund, the Canadian Pension Fund, and Axis ICO among its key investors.
