Fleetzero, a marine technology company developing hybrid and electric propulsion systems for commercial vessels, has raised a $43 million Series A round led by Obvious Ventures, with participation from Maersk Growth, 8090 Industries, and existing backers including Breakthrough Energy Ventures, Y Combinator, Benson Capital, Shorewind, and others. The company also announced the opening of a new manufacturing and research-and-development facility in Houston, Texas, intended to serve as its headquarters and production hub.
The financing will be used to expand manufacturing of Fleetzero’s Leviathan™ hybrid and electric marine propulsion system, which the company says is being deployed globally on commercial ships. Fleetzero’s Houston site includes an initial production line capacity of 300 MWh per year for marine energy storage systems, along with a marine robotics and autonomy lab and a marine propulsion R&D center. Fleetzero said it plans to scale the Houston operation to as much as 3 GWh per year over the next five years.
Fleetzero’s Leviathan™ system is designed for both newbuild and retrofit applications, enabling vessels to operate in hybrid or fully electric configurations. The company positions the platform as a way to reduce total cost of ownership for large commercial ships through lower maintenance requirements and fuel savings, while also enabling broader decarbonization efforts across the maritime sector.
In addition to propulsion electrification, Fleetzero is developing unmanned cargo vessel technology and argues that electrification is a key enabler for marine autonomy. The company also framed its industrial expansion as part of a broader effort to rebuild U.S. and European shipbuilding capacity after decades of decline.
Fleetzero is led by co-founders Steven Henderson, chief executive officer, and Mike Carter, chief operating officer. The company is headquartered in Houston, with operations and partners globally.
KEY QUOTES:
“Hybrid and electric propulsion systems are simply cheaper, safer, and cleaner than traditional systems, and the shift in the industry towards electrification is inevitable.”
Steven Henderson, Co-Founder And CEO, Fleetzero
“Houston has the people who know how to build and operate big hardware – ships, rigs, refineries, and power systems. We’re pairing that industrial DNA with modern batteries, autonomy, and software to bring back shipbuilding to the US.”
Mike Carter, Co-Founder And COO, Fleetzero
“We believe that electrification will be an important part of the mix on our journey to reach net-zero. We’re proud to support innovative companies such as Fleetzero. Their ambitions that go from battery technology to broader infrastructure make them a great partner for Maersk.”
Morten Bo Christiansen, Head Of Energy Transition, A.P. Moller-Maersk
“Fleetzero is making robotic ships a reality today. The team is moving us from dirty, dangerous, and expensive to clean, safe, and cost-effective. It’s like watching the future today. We backed the team because they are mariners and engineers, know the industry deeply, and are scaling with real ships and customers, not just renderings.”
Andrew Beebe, Managing Director, Obvious Ventures
“Fleetzero is bringing back maritime technology leadership to this country. We invested in Fleetzero because we feel they are uniquely positioned to take shipbuilding from a series of custom construction projects to truly high-volume manufacturing…and this is crucial to building back seapower to the US.”
Rayyan Islam, Co-Founder And General Partner, 8090 Industries
