Aqua superPower and Tritium announce partnership to power electric boats on global waterwaysAqua superPower has partnered with Tritium, a global leader in DC fast-charging hardware and software, to expand the charging network for electric boats. Aqua superPower is said to be the world’s first fast-charging network operator for marinas, boatbuilders and boat owners, bringing electric power to the water and reducing the impact of boating on marine ecosystems. The company has been rolling out its network of marine fast-chargers with recent installations along the Cote d’Azur and the Italian Riviera, another in Venice, and a further 150 chargers planned next year, with substantial deployment growth to come thereafter.
Vision Marine to initiate stock repurchase program
The repurchase program will be funded using the company’s working capital. The Board of Directors of Vision Marine Technologies, maker of the E-Motion electric outboard powertrain, has authorised a stock buyback of up to 10% of the company’s common shares via privately negotiated transactions and open market purchases.
BAR Technologies and Spirit Yachts to launch new electric foiling yachtUK builder Spirit Yachts and BAR Technologies, the marine engineering consultancy, are collaborating to deliver a fully electric, fully foiling 35ft motoryacht. Commissioned by the owner of the Spirit 111 sailing superyacht, the project will, according to Spirit, ”exemplify BAR’s high-tech efficiency and sustainability while maintaining a classically beautiful aesthetic.” The foiler has 6 seats in open cockpit configuration quickly converting to a 2-seater spider configuration.
Electric Outboards at METSTRADE 2021Two years of COVID-19-pent-up marine-product introductions burst forth on the world’s largest marine-equipment stage — METSTRADE — two weeks ago in Amsterdam. Most significant were 10 electric outboard motors with stated horsepower from 1 to 267. None of the electric motors on display was from the U.S., as European electrical engineers and entrepreneurs dominated the show. The future of boating is undeniably electric — the only question is when. Take a look at Part I of our two-part video report on electric outboard motors displayed at METS to see what the pioneers are doing. We think you’ll be surprised.
More electric boat investments – Arc Boats $30M Series ‘A’ roundThe electric boat investments world keeps heating up. One day after GM announced that it will be investing $150M in electric boating company Pure Watercraft, Arc Boats has announced a successful $30M Series A fundraising round. This comes in the wake of (pun intended) high profile investments in the all-electric wakeboarding towboat by Will Smith, Kevin Durant and Sean ‘Diddy’ Combs. Arc’s development team includes a number of experts from Space X, and some of the original investors in Arc were Silicon Valley titans Andreesen Horowitz and Lowercarbon Capital, who invested early in companies like twitter, Uber and Instagram.
ePropulsion secures substantial R&D funding
Asian electric outboard manufacturer receives tens of millions of US dollars’ worth of B+ Series funding. ePropulsion, the Asian marine electric propulsion company, has secured hundreds of millions of RMB in B+ Series funding, equating to tens of millions of US dollars. The funding was acquired from investors including Lightspeed China Partners and other existing shareholders. ePropulsion has now sold over 12,000 units and achieved an annual sales growth of 150% this year, which is still growing at a pace with sales expected to double again in 2022.