Progress Tech Transfer, the fund launched by MITO Technology and aimed at enhancing technologies in the field of sustainability, announces that it has made an investment in Sealence, an innovative scale-up that is bringing the innovative DeepSpeed to the market.

Sealence has developed and patented the world's first all-electric jet for ship propulsion, a revolutionary technology that enables embarkation to be cleaner, quieter and more energy-efficient than traditional propeller ship propulsion systems. Progress Tech Transfer will be the lead investor in a round that will see the participation of other investors.

Sealence Spa SB, based in Buccinasco (Milan), now employs 45 people, including the team of eDriveLab, the spin-off of the University of Parma recently joined the group with the mission of developing a technologically advanced e-powertrain composed of batteries, range-extenders and electronic control systems to support DeepSpeed propulsion.

Alberto Calvo of Progress Tech Transfer said: "We are proud to be the first institutional investor to investin the company and we intend to enthusiastically support the Sealence project. We strongly believe in the development of innovative solutions proposed for the benefit of a market that will have to radically change its operating models to accommodateincreasingly sustainable mobility paradigms; there is therefore full harmony with the industrial and technological vision of the company, an essential requirement for our activity as investors".

"We are pleased with the decision of Progress Tech Transfer for their long-term vision and above all for the great harmony that has been created on fundamental issues for us such as technological innovation as a tool for accelerating the energy transition and reducing our footprint on this planet" said William Gobbo, founder of Sealence SpA SB.

"Sealence's extreme innovativeness and global reach in terms of markets, scalability and ESG impact, make it a perfect target forinvestors interested in capital markets and alternative investment solutions" - said Alessandro M. Lerro, managing partner of AVVOCATI.NET, the law firm that followed the investment operation.