The Roskilde-based company Searine has secured a significant multi-million investment to further develop and market its groundbreaking electric saildrive.
The new investment comes from recently appointed Chairman of the Board, Jacob Jelsing, a passionate sailor himself. He is the co-founder of the publicly listed biotech company Gubra and founder of the holding company Change Ventures, which has invested in Searine.
The mission of Change Ventures is to provide venture capital to green startups and sustainable companies working on projects that aim to create societal change. Jacob Jelsing joins Searine’s other investor, Kim Madsen, a business owner with a strong personal interest in sailing. Kim Madsen is the founder and CEO of Momentum Energy Group A/S, an international developer, asset manager, and investor in wind and solar energy, headquartered in Roskilde. He has invested in Searine A/S in a private capacity.
A Personal Cause
Searine was founded by sailor and entrepreneur Anders Hovmøller, who has worked relentlessly to develop a saildrive that not only revolutionizes sailing efficiency but also contributes to a more sustainable and digital future at sea.
“I have a deep desire to support and assist the passionate individuals and companies working for a more sustainable future – and that’s exactly what Searine is doing. Moreover, this is a personal cause that I care deeply about. As a sailor, marine biologist, and climate activist, it pains me to see a sailing industry where more than 99% of the fleet runs on fossil fuels. Searine’s system also offers a number of unique features that I believe could revolutionize the sailing industry and significantly enhance the sailing experience,” says Jacob Jelsing in a press release.
Sustainable Sailing
Searine’s electric saildrive combines unique technologies, including a 360-degree rotating propeller that makes boat maneuvering – especially in harbors – significantly easier. In addition, the saildrive allows for recharging through hydrogeneration, and its AI-powered system can assist with route planning by taking weather, distance, depth, recharging, and traffic into account.
This innovative technology not only improves the efficiency and range of sailing but also enhances its sustainability.
“With Jacob on board, we are significantly strengthening Searine’s capital structure and board capabilities. We can now distribute tasks more effectively across more hands, enabling us to get in the water faster and help lead the way in maritime innovation toward a more sustainable and efficient future at sea,” says Kim Madsen.
A Defining Step Forward
Searine recently changed its name, having previously operated under the name Undine. Under that name, the company won the 2023 Roskilde Business Award in January.
“This investment marks a defining step forward and will accelerate our progress as a company. I am both proud and grateful to have two such experienced sailors and businessmen on board. Their specialized knowledge will help propel the company forward and accelerate development for the benefit of the climate, the marine environment, and sailors alike,” says Anders Hovmøller.
