New company named Seacap was launched on May 26, aiming to simplify the process for ports investing in green and future-ready infrastructure. Supported by a European investment fund that has allocated over 300 million for this purpose, Seacap is being recognized as the world’s first global capital partner solely focused on sustainable port development.
Based in Norway, Seacap was founded by Robert Svendsen, Styrk Bekkenes, and Torvald Ulland Reiestad. The company's primary goal is to enhance both new and existing port facilities through investments in shore power systems and other zero-emission infrastructures. Seacap intends to tackle the biggest challenge ports face when trying to transition to green practices—access to funding.
The founders pointed out that many ports, especially those owned by municipalities, often operate with tight budgets and must prioritize urgent public needs like schools, hospitals, and transportation. As a result, investments in green port initiatives frequently get postponed or even canceled.
The Seacap team has developed a financial model that offers long-term stability and straightforward structures. This means that ports won’t have to use their own equity or take on excessive investment risks. Seacap aims to serve as a long-term partner for ports looking to reduce emissions and modernize their infrastructure.
The company’s approach includes support for large-scale and phased developments, such as infrastructure upgrades, port expansions, and the integration of clean energy systems. This strategy allows ports to start making progress immediately rather than waiting 5 to 10 years to secure funding.
Seacap has noted a rising demand from ship operators and port users for cleaner operations, with many European ports ready to make the shift. However, the lack of financial resources continues to hinder their growth. The company aims to bridge this gap and assist ports in leading the global transition toward zero-emission shipping.
Initially, Norway will serve as the starting point for this venture, with Seacap planning to expand throughout Europe soon. The founders believe Norway is uniquely positioned to lead this initiative due to its strong national policies on electrification and environmental sustainability.
The Norwegian government has already pledged to reduce greenhouse gas emissions by 70-75% by 2035 compared to 1990 levels, building on its previous goal of a 55% decrease by 2030 under the Paris Agreement. Additionally, the country has mandated that all ferries operating along its coast must transition to electric propulsion by 2030.
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