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Strategic projects, acquisitions and joint ventures

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In June, Wärtsilä and Hyundai Motor Group signed a technology and commercial partnership contract designed to utilise second-life electric vehicle (EV) batteries for the growing energy storage market. The partnership will target advanced energy storage products and platforms that maximise Hyundai’s second-life EV batteries to be commercialised via Wärtsilä’s existing customer and channel networks throughout 178 countries globally.

The acquisition of Transas was completed in May. Transas is a global market leader in marine navigation solutions, professional training and simulation services, ship traffic control, as well as monitoring and support. The transaction is valued at EUR 210 million (enterprise value).

In April, Wärtsilä announced a partnership with the cyber security company Templar Executives to establish a world-class cyber academy in Singapore. The academy will offer courses designed to support and enhance the collective cyber maturity of the wider shipping community, notably operators and owners. Wärtsilä has also partnered with the Maritime and Port Authority of Singapore to promote maritime innovation and R&D. The partnership covers four different streams: digital acceleration, cyber-physical security, intelligent vessels, and port operations.

During the quarter Eniram, a Wärtsilä company, signed a memorandum of understanding with Athens-based Arista Shipping to participate in the Project Forward initiative, which is led by Arista. The project has developed a dry bulk carrier vessel design that features an unprecedented high level of energy efficiency. The carrier’s design is based on LNG fuelled propulsion. Eniram’s contribution will be to assist in the development of monitoring and optimisation tools.

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