Echandia Secures Financing from S2G Investments, Increasing Funding Round to SEK 325 Million
Echandia has secured long-term financing from S2G Investments, a U.S.-based firm, as part of a SEK 325 million (USD 34 million) funding round announced in March 2025. This investment, Echandia's first from a U.S. investor, supports its expansion in North America, including a new facility in Marysville, Washington, and advances its R&D and production capacity.
Echandia’s Lithium Titanate Oxide (LTO) battery systems, designed for maritime use, power vessels like ferries and tugboats, offering high safety and durability. The company’s revenue quadrupled in 2024 and is expected to triple in 2025, driven by demand and projects like the San Francisco Bay Ferry’s zero-emission REEF Program, with deliveries starting in 2026.
Jun 25 2025
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