Copenhagen-based CleanTech startup ZeroNorth closed out 2024 on a high note, achieving its first month of positive EBITDA in December. The milestone reflects the company’s rapid growth and increasing market traction, with annual recurring revenue (ARR) reaching just under €38.5 million—a 38% jump from the previous year.
Søren Meyer, CEO of ZeroNorth, said: “Achieving operating profit is an important milestone for ZeroNorth and a reflection of the dedication of our team and the trust of our customers. Reaching this point highlights our ability to build a sustainable business model while scaling rapidly. More importantly, it reflects the critical role of data and technology as the shipping industry tackles the complexities of the energy transition. With this foundation, we are strongly positioned to accelerate our growth, and continue to enable our customers to make informed decisions, boost efficiency and cut emissions.”
Founded in 2020, ZeroNorth has been making waves in the maritime industry with its AI-powered platform that helps shipping and energy companies optimise fuel consumption and reduce emissions. With over 230 shipping and energy companies already onboard, the company aims to establish itself as a key player in the sector’s digital transformation.
ZeroNorth equips vessel owners, commercial operators, charterers, cargo owners, and bunker suppliers with the tools to achieve operational excellence, reduce emissions, and steer the industry toward a more sustainable future.
Over the past four years, the company has expanded from a team of six to 600 employees across 10 global locations and completed six strategic acquisitions—including its February 2024 merger with Alpha Ori Technologies.
Leveraging advanced AI-driven analytics, ZeroNorth has developed a unified platform that drives efficiency and sustainability at scale. In 2024 alone, it optimised 1.3 million voyages by generating 1.5 million routes, cutting more than one million metric tonnes of CO2 emissions.
As startups and scaleups face growing pressure to prioritise financial sustainability amid rising interest rates, ZeroNorth’s profitable milestone underscores its ability to balance aggressive expansion with long-term viability.
The company’s platform processes billions of data points, ensuring seamless information flow from ship to shore and throughout the entire maritime value chain.
“We’ve been able to get a vessel up and running within a week, including the whole process of getting the technical documents from the pool partner and for the first report to come in and get validated,” said Kartik Kathavate, Head of Fuel Optimisation, Maersk Tankers