Volvo Penta completed the acquisition of ZEM AS.

Volvo Penta, a manufacturer of diesel engines, completed the acquisition of ZEM AS, an energy storage company. Financial terms were not disclosed. "As a part of the Volvo Group's great electromobility initiatives, Volvo Penta has a solid technology foundation to leverage. Marine electromobility, however, has a unique set of requirements. There are very specific considerations of utmost importance around the installation environment, safety, the use case itself as well as the current lack of charging infrastructure," Peter Granqvist, CTO Volvo Penta.