WaVeS #7: Electric boat news and updates

Plugboats WAVES (Watts, Amps, Volts, Electrons) is an occasional collection of electric boat news and electric boating items that we have written about before and are updating, or items we are going to write about but are waiting for more information / developments – or items that are just tidbits you might find interesting.

So without further ado, here is WAVES #7, with electric boat and boating news about:

• electric boater leaves a police officer with a smile
• X Shore raises additional capital, moves toward profitability
• Greenline retires iconic and pioneering Greenline 33
• Gussies winner MobyFly exceeds expectations with Lake Geneva trial
• Gussies winner Navalt takes home best global start-up award
• Vision Marine Technologies gets a new Chairman

Electric boater has close call with the local lake legal authorities.

Scott Masterson is the owner of Stealth Electric Motor and he received an amusing photo and anecdote from one of his customers. “Scott T from Maryland took out his Stealth 50HP today for the first time.” Masterson wrote on the Stealth facebook page. Scott T had purchased a Stealth 50 to power his Triton SP175,  a 17′  17″ (5.6m) fibreglass bass boat with a dry weight of 1120 lbs (508 kg).

“I had a very successful first trip,” Scott T from Maryland wrote, “but it was not without some drama. Mind you that the average speed on our electric-only lakes is 5 mph  (8 kmh) and after running some slow speed maneuvers I tested the max speed with the Stealth and got to 26.2 mph, which people are not used to seeing!  Johnny Law was called and the officer was P—ED right up until he found out it was electric and that I was lake compliant. We both left with a smile.”

X Shore raises $28M to scale up production and US growth.

Swedish e-boat manufacturer X Shore has announced another successful funding round, this time of approximately SEK 300 million ($28.4M / €26,2M).

The lead investor was SEB Investment Management AB, one of the leading asset management companies in the Nordics. The investor said “SEB Investment Management is committed to help funding the transition to net zero and we are very pleased to be able to support X Shore in their vital work of decarbonising the global boating industry”. Some existing and several new shareholders also participated in the round.

X Shore will use the proceeds to scale production and reach profitability, predicted during 2024. The proceeds will also be invested in X Shore’s North American market operations, which accounted for the majority of 2022 sales.

In September the company launched the new X Shore 1 with an affordable price point to broaden the market of electric boat buyers.  At the Miami Boat Show in January, X Shore CEO Jenny Keisu said the company has already sold out its entire manufacturing capacity for 2023.

Speaking of the new investment, Keisu said: “Our mission is a crucial one – to lead the transition to electric vessels, in the process of decarbonizing an industry which must transition to net zero in our lifetime. We are grateful for the support of the investment community, and I am excited for the future.”

Trailblazing Greenline 33 being retired to make way for larger eco-conscious yacht demand.

Electric hybrid boat pioneer Greenline Yachts is ending production of the Greenline 33 to allow the luxury Slovenian boatbuilder to focus resources and production space on its larger models. Orders placed up to summer 2024 will be fulfilled.

Launched in 2008, the Greenline 33 set a new benchmark in environmentally conscious boating and was the first production hybrid boat. Almost 500 units of the revolutionary 33ft family cruiser have since been delivered in more than 50 countries worldwide.

Greenline Yachts’ owner, Vladimir Zinchenko, says: “We are immensely proud of the success and heritage of the Greenline 33 and how it shaped the market for eco-conscious family boating. Winning more than 30 awards is no small feat, especially in such a competitive sector of the market. Due to the increased demand for larger yachts, the time is right for us to optimise our space and capacity for larger models.”

“There is growing appetite in the market for a more sustainable way of boating” said Luca Raumland, Chief Sales & Marketing Officer. “This marks a new and exciting chapter for Greenline Yachts as we build upon our successes and expand our dynamic fleet.”

2022 Gussies Winner successfully tests hydrofoiling watertaxi/ferry

MobyFly, winner of the 2022 Gussies in the category Electric Commercial Passenger Vessels: In Development, has now successfully tested its prototype zero-emission hydrofoil boat on Lake Geneva.

This was the first real life on water trial for the 10-meter, 12 passenger ferry and the company’s patented retractable foil system. The results exceeded expectation, recording lower than expected energy consumption that results in greater range.

A maximum speed of 74 km/h (45 mph / 40 kt) was recorded, and the tests showed the hydrofoil’s design was more efficient than expected, consuming nearly 20% less energy than initially planned. This will allow the boat to have an increased autonomy of about 140 km.

“It was an absolute joy to witness,” said MobyFly Director Su Putallaz. “not only to see the MBFY10 ‘fly’ above the surface of Lake Geneva, but to do so using far less energy than expected. The test was a huge success, but this is just the beginning. MobyFly will now firmly commit to making emission-free water transport part of everyone’s future.”

Gussies winner takes home best global start-up award

Navalt Solar and Electric Boats, which won the 2020 Gussies for Commercial Paying Passenger boats and the 2022 Gussies for Electric Workboats, has won another award – the ‘World’s Best Start-Up’ under the Mobility and Transportation category at the 2023 Berlin Start-up Energy Transition (SET) Awards.

The SET Awards is a worldwide competition for entrepreneurs with brilliant ideas that can have an impact on global energy and climate change. The Jury included Andreas Kuhlmann, CEO of dena, the German Energy Agency; Dr. Angela Wilkinson, Secretary General and CEO of the World Energy Council; and Dr. Antje Danielson, Research Director of the MIT Energy Initiative.

Jury Chair Kuhlman says “Start-ups and their innovations are indispensable for achieving the ambitious goal of climate neutrality. The SET Award 2023 shows everything that distinguishes the international start-up landscape in energy transition and climate protection: strong visions, forward-looking technologies and progressive commitment.”

Congratulations to Navalt Founder and CEO Sandith Thandasherry and the entire Navalt team!

Vision Marine Technologies appoint new Chair – Carter Murray

Vision Marine Technologies, manufacturers and developers of the E-Motion 180e electric outboard drive train, has appointed Carter Murray as Chairman of the Company’s board of directors.

Mr. Murray is recognized as a dynamo in the advertising industry, where he transformed multinational agency FCB back into a world-renowned global force. Under his leadership, FCB won numerous accolades, including being named the world’s most innovative agency, the best place to work, and the number one agency in the world.

He will work directly with Vision Marine’s Chief Executive Officer Alex Mongeon to continue transforming recreational boating through innovation, technology and superior performance.

“Vision Marine is led by a CEO who is delivering against his vision, and I am thrilled to join the board of this forward-thinking company,” said Murray, ” it is the most innovative marine technology company in the market today when it comes to boating.”

The Vision Marine E-Motion 180e is the outboard of choice for the new Four Winns He2 electric powerboat and other leading boat manufacturers. A Hellkats speedboat powered by twin E-Motion 180e’s holds the world speed record for electric boats at 104 mph (167 kmh) and Mongeon has said he is set on beating the mark in 2023.