ZeroNorth achieves first operating profit amid rapid growth
ZeroNorth, a maritime technology company, has marked a significant achievement by recording its first month of positive EBITDA in December 2024. This milestone comes as the company helps its clients save over one million metric tonnes of CO2 emissions, underscoring the vital role of technology in the shipping industry’s energy transition. Founded in 2020, ZeroNorth has rapidly grown, reaching nearly USD 40 million in annual recurring revenue (ARR) for the year, a 38% increase from 2023. This success is particularly noteworthy given the current economic climate, where rising interest rates have pressured startups to focus on financial sustainability.
Growth and Impact in the Maritime Sector
Since its inception, ZeroNorth has emerged as a leader in the digital transformation of the maritime industry. The company has assisted over 230 shipping and energy firms in navigating the energy transition by providing solutions that optimize fuel consumption and reduce emissions. ZeroNorth’s workforce has expanded from six to 600 employees across ten global locations. The company has also completed six strategic acquisitions, including a partnership with Alpha Ori Technologies in February 2024.
In 2024 alone, ZeroNorth optimized 72,000 voyage legs by generating 1.5 million routes. This optimization has led to a substantial reduction of over one million metric tonnes of CO2 emissions. The company utilizes advanced AI-driven technologies developed in-house, creating a unified platform that significantly enhances sustainability and efficiency for its customers. CEO Søren Meyer emphasized that achieving operating profit reflects the dedication of the team and the trust of their clients. He noted that this milestone positions ZeroNorth to accelerate growth while enabling customers to make informed decisions, improve efficiency, and cut emissions. Looking ahead, ZeroNorth aims to maintain positive EBITDA throughout 2025 while continuing to execute its growth strategy.
