Finland’s Normet has bought a minority stake in Swiss e-mobility start-up, Motics.
Co-founder of the latter, Christoph Fassler, said the investment opened up “significant growth opportunities”.
“With Normet’s support we can expand our technological expertise, scale our electrification solutions, and tap into new markets, driving our company’s growth,” Fassler said.
“This partnership will propel Motics forward, enabling us to reach more customers and accelerate the adoption of sustainable and innovative electric driveline solutions.”
Normet sees Motics aiding its development of “cleaner and more sustainable underground mining and tunnelling” equipment.
Aliva Equipment, acquired by Normet in 2022, has a connection with Motics going back to 2020.
The Swiss firm developed an electric powerline for Aliva’s 520 concrete sprayer.
“The investment is part of our strategy to expand our offering in electrification in mining and tunnelling,” Normet CEO Ed Santamaria said.
Normet employs about 1700 people and turned over €439 million last year.