Yamaha snaps up Torqeedo

A stock purchase agreement was finalised on January 19 with Torqeedo’s German owner, Deutz AG, to acquire all of the company’s shares.

The deal, Yamaha says, supports the company’s strategy to ‘implement a multiple technology approach to achieve carbon neutrality and boost Yamaha’s position in the competitive electric propulsion market’.

Torqeedo was founded in 2004 in Bavaria, near Munich, when Christoph Ballin and Friedrich Böbel began to look into electric boat propulsion.

The company has a foot in both commercial and recreational marine camps, offering electric drives for ferries, like the one pictured, and all kinds of workboats.

“Through the relationship with Torqeedo, Yamaha will have the ability to fast track the establishment of a small electric propulsion line-up, complementing the company’s efforts with hydrogen and sustainable fools as additional means of reducing the carbon footprint on the water,” said Ben Speciale, Yamaha US Marine Business Unit president.

“Furthermore, the pending acquisition supports Yamaha Marine’s CASE strategy, which helps Yamaha deliver high-value, innovative products to customers while promoting marine conservation and sustainability.”

Maritime Journal is awaiting comment from the company as to what changes can be expected after the deal.