Arc & Pure Watercraft Attract New Investments In Electric Boating

0
27
Arc & Pure Watercraft Attract New Investments In Electric Boating

I’m a sailor. One of the joys of letting the wind be your power source on the water is the silence. My fellow sailors always refer to petrol or diesel powered boats as “stinkpots”. They make noise and follow a miasma of dirty air in their wake. Electric boats, on the other hand, are quiet and non-polluting.

GM takes 25% of the shares in Pure Watercraft

As the world of transportation shifts to batteries and electric motors, interest in electric boats is increasing. This week, General Motors agreed to invest $ 150 million in Pure Watercraft, a manufacturer of electric outboard motors. According to CNBCGM’s investment will be partly in cash and partly in kind. GM will be a supplier of components to Pure Watercraft, a co-developer of new products, and will provide engineering, design and manufacturing expertise to help startups establish new factories, the companies said. CNBC. The new partnership with GM should help the Pure team navigate supply chain issues as the company grows, says CEO Andy Rebele.

The outboard engine market reached $ 3.4 billion last year, according to the National Marine Manufacturer’s Association, limiting 9-year market growth. “The boat market is growing like it has not done since after World War II,” says Rebele. “During the pandemic, people would do things with their families, with their pods. Going out on the water is one of the ideal things to do.”

The growing market is also on GM’s radar. In a LinkedIn blog post in October, CEO Mary Barra wrote: “We provide hardware platforms that will help put everyone in an electric vehicle – even beyond our own vehicles. Our Ultium battery platform and HYDROTEC fuel cell platform give us the potential to make aircraft , trains, cars and even boats for zero-emission products. “

Pure Watercraft

Image credit: Pure Watercraft

Pure Watercraft sells outboard motors and waterproof battery packs. As many as 10 battery packs can be connected for maximum range. The company also collaborates with a number of boatmakers to sell ready-to-drive electric boats in various shapes and sizes. One is the RIB Classic Deluxe 380 (pictured above), created with Highfield Boats. It comes complete and ready for water for $ 29,000.

If you think it’s a lot of money, you have not priced new boats lately. You also did not buy gas at a boatyard recently or paid to have an outboard winterized. The cost of maintaining an electric boat is significantly less than it is for a boat with a conventional gas or diesel engine, just as an electric car is cheaper to own than a conventional car.

Arc is completing a $ 30 million funding round

Arc Boats

Image credit: Arc Boats

Pure Watercraft has been pursuing electric outboard motors for a decade. Arc is a one-year-old startup co-founded by former SpaceX engineer Ryan Cook, who plans to bring technology from aviation to boat building. Electric propulsion is at the heart of this initiative. According to TechCrunch, the company focuses on the design and development of a custom-built hull and battery packs. Its first boat – the Arc One – has a 24-foot aluminum hull and an electric powertrain that provides 475 horsepower. It comes with a 200 kWh battery, which provides enough power for up to 5 hours of sailing on a single charge.

Arc is focused on delivering Arc One, a ski boat priced at $ 300,000 each. It plans to build 25 of them first, but Arc has bigger plans, once it has established itself as a manufacturer of high-tech electric boats, it will also offer other designs. The company has attracted investment from such high-profile individuals as Will Smith, Kevin Durant and Sean “Diddy” Combs. This latest round of funding was led by Greg Reichow, a former Tesla CEO who is now a partner at Eclipse Ventures.

Takeaway

An electrification of the world of transport, from locomotives to construction equipment, aircraft for boats and cars and trucks, is taking place, and the transition is accelerating almost daily. Dodge is on its way out of the Hellcat industry. Electric pickup trucks come from the Detroit Big Three. Now the interest in electric boats is increasing.

When 2030 comes here, the transformation will be almost complete and those who did not see the future coming will stand in the way. This is good news for fans of electrification. Despite no-sayers and fudsters, it is happening and faster than we dared hope.

Do you appreciate the originality of CleanTechnica? Consider becoming a CleanTechnica member, supporter, technician or ambassador – or patron of Patreon.


Advertising



Do you have a tip for CleanTechnica, would you like to advertise, or would you like to suggest a guest to our CleanTech Talk podcast? Contact us here.

LEAVE A REPLY

Please enter your comment!
Please enter your name here