RIVE Private Investment, an independent investment firm specialized in real assets, has taken a stake in the Norwegian company Hyke, which designs and sells next-generation electric ferries to develop river transport in cities and reduce congestion and pollution from road traffic.
Joining the historical investor Eker Group, RIVE acquires a minority stake in Hyke. As a shareholder, RIVE will support Hyke’s development in Europe, particularly in France. Furthermore, RIVE will offer financing solutions to Hyke customers (local authorities, private players, etc.), leveraging its proven expertise in operational leasing of transport assets.
Decarbonizing urban river mobility
Based in Oslo, Norway, Hyke offers a comprehensive and innovative urban river mobility solution with a connected, 100% electric ferry that consumes 85% less energy than traditional urban ferries, and a dock that integrates a charging infrastructure. Hyke markets its solution to boat operators and collaborates with its sister company Hydrolift to develop large-scale production.
Listed by Time magazine in 2022 as one of the 200 most important inventions that are changing the way we live, Hyke aims to expand in Europe, especially in France. The Norwegian company has signed an agreement with the Olympic Committee to provide 4 electric ferries to transport passengers on the Seine during the Olympic and Paralympic Games in summer 2024. Furthermore, Hyke is in advanced discussions with several French local authorities to deploy this decarbonized mobility solution.
RIVE’s core strategy: positive impact and real asset financing
Specialized transport is a strategic asset class for RIVE, which has been investing in it for over 10 years. This transaction, the 15th through RIVE Transportation Assets Income Fund (RTAIF), aligns with RIVE’s strategy of building transport equipment leasing platforms. Investing in Hyke also embodies a positive impact approach, central to RIVE’s strategy, both in its transport assets activity (RTAIF fund) and in its dedicated infrastructure for the energy transition (RIIF fund).
« Hyke offers an innovative, decarbonized transport method that optimizes urban mobility by maximizing the use of waterways, with the ability to pool needs (tourism, logistics, etc.). Beyond the obvious environmental benefits, its ferries also play a social role as a daily transport mode connecting major cities. These positive impacts were decisive in our choice to support Hyke’s development in a rapidly growing market that promises exciting prospects for an investor. »
Camille Brunel, Partner at RIVE Private Investment
« We are pleased to welcome Rive Private Investment onboard to accelerate the development of waterborne mobility in cities around Europe and beyond. »
Bård Eker, Founder and Executive Chairman of Hyke
« Together with Rive, we can supercharge our value proposition to operators and cities, delivering a complete, financed solution including vessels, piers, and software. »
Bjørn Utgård, CEO of Hyke
