Selected as one of only 40 European start-ups in the EIC Accelerator, InnoEnergy portfolio company Zparq secures major EU support and continued backing from investors to bring its Z10 electric drivetrain platform to market.
Zparq, InnoEnergy-backed company developing next-generation electric drivetrains, has been awarded €5.5 million in EU funding to complete the development and scaling up of its innovative Z10 platform. This funding, which is a combination of a grant and an equity investment, will enable Zparq to drive the marine industry’s transition towards sustainable, zero-emission propulsion. Zparq is one of only 40 European start-ups to be selected for the prestigious EIC Accelerator program, chosen from over 1,000 applicants. The selection by the EIC Accelerator is widely recognized as one of the strongest validations a European deeptech start-up can receive. It confirms Zparq’s position at the forefront of the marine industry’s transition away from fossil fuels.
In addition to the EU funding, Zparq’s existing investors InnoEnergy, Santander Climate Fund and Almi Invest Greentech have reaffirmed their confidence by continuing to support the company on its path to commercialisation and global expansion.
“This milestone underscores both the technological strength of our platform and the momentum for change across the marine industry,” says Jonas Genchel, CEO and co-founder of Zparq. “With increasing regulatory pressure and clear customer demand for sustainable propulsion, the time for electrification is now. Our Z10 platform proves that electric propulsion can be clean, safe, and fully competitive, not only in performance, but also in cost and reliability.”
“Zparq is a prime example of how European deeptech innovation can transform entire industries,” says Lowina Lundström, CEO of InnoEnergy Scandinavia. “Their drivetrain platform addresses one of the most challenging sectors to decarbonise – marine propulsion – by combining technical excellence with industrial scalability. At InnoEnergy, we are proud to support Zparq in bringing this breakthrough to market, thereby accelerating Europe’s leadership in clean and competitive marine technology.”
Transforming an industry in need of change
The marine sector has long relied on internal combustion engines, but their environmental impact, higher maintenance costs, and regulatory hurdles are accelerating the shift toward electrification. Zparq is addressing these challenges head-on with its ultra-compact, scalable, and fully integrated electric drivetrains.
Its patented Z10 platform is designed not only for leisure boats but also for demanding commercial and rescue applications, with integrated safety systems, advanced battery management, and theft-prevention technology redefining the standards for marine mobility.
EIC Accelerator – Europe’s flagship for deeptech
The EIC Accelerator is the EU’s leading funding program for deeptech innovation, targeting technologies with transformative market potential. In this round, nearly €230 million was allocated to only 40 selected companies, with the majority provided as blended finance.
With this financing, Zparq will be able to:
- Complete the development of the entire Z10 platform, the company’s core technology for electric drivetrains.
- Scale up the technology for wider market adoption and industrial production.
- Continue attracting international partners and customers in the transport sector.
“We are incredibly happy and proud to have been selected for the EIC Accelerator in such tough competition. It is a strong validation that our technology comes at the right time and has the potential to make a real difference,” adds Genchel. “This recognition and funding will allow us to scale faster, build new partnerships, and drive the systemic change needed to decarbonise waterways.”
