Hanwha Acquires Seam for About $195M

Hanwha Group has completed its acquisition of Seam, a Norway-based provider of low- and zero-emission automation and propulsion systems for marine applications. The deal was originally signed Dec. 19, 2025 and is valued at approximately $195 million.

Hanwha Engine will integrate its internal combustion engine manufacturing expertise with Seam’s electric propulsion portfolio to target dual-fuel propulsion for mid- to large-sized vessels and electric or hybrid systems for smaller vessels. Seam will continue to operate with engineering, production, and customer support based in Norway, and Austevoll Elektro, acquired by Seam in 2024, will be merged into Seam as part of the transaction.

Seam’s portfolio includes energy storage systems, electric motors, and proprietary power management and automation software.