Progress Tech Transfer completed the investment in Sealence.

Progress Tech Transfer, an investment fund for sustainable technologies, public research firm, start-ups, spin-offs, & entrepreneurs, completed the investment in Sealence, a developer of nautical propulsion systems for boats with electric outboard hydrojets. Financial terms were not disclosed. "We are proud to be the first institutional investor to investin the company and we intend to enthusiastically support the Sealence project. We strongly believe in the development of innovative solutions proposed for the benefit of a market that will have to radically change its operating models to accommodateincreasingly sustainable mobility paradigms; there is therefore full harmony with the industrial and technological vision of the company, an essential requirement for our activity as investors," Alberto Calvo, Progress Tech Transfer.