Cavotec to invest €20m in clean tech for ports
Shore power specialist Cavotec will invest €20m (US$24m) in technology, engineering and business development in clean tech over the next five years, focusing on the electrification and automation of ports.
Its global team will grow by an estimated 320 people, an increase of 60%, with two thirds being engineers.
In recent years, Cavotec has equipped some 600 of the world’s container ships as well as hundreds of ports around the world with its shore power systems, although it believes this market is transitioning from a niche interest to the mainstream.
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