Latest news with #S2GInvestments
Geek Wire
24-06-2025
- Business
- Geek Wire
Swedish battery startup making waves in Washington nets $34M to electrify ships
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE An employee at an Echandia facility. (Echandia Photo) Echandia, a Swedish maker of battery systems for marine vessels, raised $34 million. Echandia leaders said the investment will be used to increase its production capacity, grow its U.S. market presence, and fund R&D efforts. Almost a year ago, the company celebrated the opening of its manufacturing and sales facility in Marysville, Wash., which is its first site in North America. The startup employs seven people at the Washington facility, and expects to hire this fall when its assembly line starts running. 'With North America serving as a critical growth region, we believe we're well-positioned to help operators cut emissions and hedge against fuel price volatility, while enhancing vessel performance,' Torbjörn Bäck, CEO of Echandia, said in a statement. Echandia partners with shipyards to build and retrofit vessels to make them all-electric or hybrid-electric powered. The startup has customers in Europe, India and New Zealand and is working on ferries, naval vessels, merchant ships and offshore vessels. Its batteries use a lithium-titanate-oxide chemistry, which the company says is safer and faster-charging than traditional lithium-ion designs. Investors in Echandia's round include U.S.-based S2G Investments; Klima, the energy transition fund for Spain's Alantra; Swedish investors Industrifonden and SEB Greentech VC; and the Japanese firm EEI. Echandia has raised a total of $54.6 million. Its revenue quadrupled last year, and is expected to triple again this year 'driven by strong market demand and an expanding order pipeline,' the company stated. San Francisco Bay Ferry's REEF (Rapid Electric Emission Free) Program last year selected the company to provide its battery systems, making it the first U.S. operation to offer zero-emission ferry service starting next year. Washington State Ferries has been pursuing a strategy to start moving its fleet to hybrid-electric vessels by 2040 by converting some existing ferries and buying new vessels. The ferry system burns roughly 19 million gallons of diesel each year and is the largest producer of greenhouse gases among state agencies. The effort to cut emissions, however, is being delayed as the cost of converting an initial vessel was significantly higher than expected, the Seattle Times reported. The state hired Vigor Shipyards, a long-time local company, for the job. The state has not said which shipbuilder will construct the new ferries, but a decision is anticipated by the end of the month.
National Post
01-05-2025
- Business
- National Post
Flashfood Appoints Jordan Schenck as Chief Executive Officer
Article content TORONTO — Flashfood, the app-based marketplace connecting consumers with affordable groceries, announced today the appointment of Jordan Schenck as its new Chief Executive Officer. Schenck has served as Flashfood's President and Chief Operating Officer since October 2024. She assumes the role immediately and succeeds Nicholas Bertram, who will remain on the board. Article content This transition comes at a pivotal time in Flashfood's growth trajectory. The company has added over 1,000 doors and experienced 200% revenue growth since completing its Series A in 2022, expanding its footprint to 33 US states and all 10 Canadian provinces. This occurred while achieving B-Corp Certification, launching new products, and replatforming its applications to achieve even greater impact in North America. Article content 'Jordan is a generational talent, and her growth over the last two years has benefited our company tremendously. She is ready to take on this role, and I am thrilled for her to lead our talented teammates as they achieve our mission of feeding families, not landfills,' said Bertram on her appointment. Article content Bertram recruited Schenck in early 2023 to serve as Flashfood's Chief Brand Officer and has since promoted her twice, from Chief Customer Officer to President and Chief Operating Officer. In her tenure, Schenck led the company's transformational rebrand in January 2024, oversaw the relaunch of Flashfood's consumer app, and was instrumental in the development and launch of Flashfood for Independents – a new platform for independently owned grocers. Article content 'Stepping into the CEO role, I am energized by the extraordinary potential ahead of us. Flashfood's technology has the power to build a world where food is never wasted and access to affordable, fresh products is a daily occurrence,' said Jordan Schenck, CEO of Flashfood. 'With a product-driven approach, relentless innovation and the use of AI, we will empower grocers to turn close-dated inventory into a competitive advantage – earning more frequent shoppers and wasting zero food.' Article content 'Flashfood has achieved significant growth in recent years, and Jordan has demonstrated outstanding leadership and vision during a pivotal period for the company,' said Chuck Templeton, Flashfood Board Director and Managing Partner at S2G Investments. 'Her growth mindset and deep understanding of consumer and retailer dynamics make her exceptionally equipped to lead Flashfood forward and scale its ability to lower food costs and reduce unnecessary waste.' Article content Earlier in her career, Schenck served as co-founder and Chief Revenue Officer of wellness brand Sunwink, which became one of the fastest growing ready-to-drink beverages in the market. Before Sunwink, Schenck was head of consumer marketing for Impossible Foods and supported the company's explosive growth across new verticals and markets. Article content Flashfood is on a mission to feed families, not landfills. The app marketplace connects shoppers with fresh produce, meat and other groceries at up to 50% off. By partnering with retailers across North America, Flashfood offers shoppers nutritious staples at affordable prices, and reduces the amount of food going to landfills. To date, Flashfood has rerouted more than 130 million pounds of food from landfills while saving its shoppers more than $330 million on their groceries. Flashfood is a B-Corp certified company currently partnered with more than 2,300 stores across North America. For more information, please visit Article content Article content Article content Article content Article content Article content
