Arc & Pure Watercraft Attract New Investments In Electric Boating

I am a sailor. Silence is one of the joys of letting the wind be your strength over the water. My fellow seafarers always refer to petrol or diesel boats as “smelly pipes”. They are annoying and follow a swamp of polluted air in their wake. On the other hand, electric boats are quiet and unpolluted.

General Motors owns a 25% stake in the pure watercraft

As the transportation world moves to batteries and electric motors, interest in electric boats is growing. Just this week, General Motors agreed to invest $150 million in Pure Watercraft, the maker of electric outboard motors. according to CNBCGM’s investment will be partly in cash and partly in kind. GM will become a supplier of components to Pure Watercraft, a co-developer of the new products, and provide engineering, design and manufacturing expertise to help the startup build new plants, the companies said. CNBC. The new partnership with GM should help the Pure team deal with supply chain issues as the company grows, CEO Andy Ripley says.

The outboard motors market reached $3.4 billion last year, according to the National Marine Manufacturers Association, capping 9 years of market growth. “The boat market is growing like it hasn’t since after World War II,” says Ripley. “During the pandemic, people wanted to do things with their families, with their horns. Getting out into the water is one of the perfect things to do.”

This growing market is on GM’s radar, too. In a LinkedIn blog post in October, CEO Mary Barra wrote, “We are providing hardware platforms that will help put everyone in an electric vehicle — even outside of our cars. The Ultium battery platform and HYDROTEC fuel cell platform give us the ability to build planes and trains cars, and even boats in zero-emissions products.”

Image credit: Pure Watercraft

Pure Watercraft sells outboard motors and weatherproof battery packs. Up to 10 battery packs can be linked together for maximum range. The company also cooperates with a number of boat makers to sell ready-made electric boats in different shapes and sizes. One is the RIB Classic Deluxe 380 (pictured above) jointly built with Highfield Boats. Comes complete and ready to water at $29,000.

If you think that’s a lot of money, you haven’t been pricing new boats lately. Nor have you recently purchased gas from a boatyard or paid to winterize an outboard engine. The cost of maintaining an electric boat is much lower than the cost of maintaining a boat with a conventional gas or diesel engine, just as the cost of owning an electric vehicle is less than that of a conventional vehicle.

Arc completes $30 million financing round

bow boats

Image credit: Arc Boats

Pure Watercraft has been following electric outdoor panels for a decade. Arc is a year-old startup co-founded by former SpaceX engineer Ryan Cook and plans to bring technology from aeronautics to boat building. Electric propulsion is at the heart of this initiative. according to Take CrunchThe company focuses on the design and development of purpose-built structures and batteries. Its first boat – the Arc One – has a 24-foot aluminum hull and an electric powertrain that produces 475 horsepower. It comes with a 200 kWh battery that provides enough power for up to 5 hours of boating on a single charge.

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

Takeaway

The electrification of the transportation world, from locomotives to construction equipment and aircraft to boats, cars and trucks, is happening, and change is accelerating almost daily. Dodge is out of the Hellcat business. Electric pickup trucks come from the Big Three in Detroit. Interest in electric boats is now growing.

By the time 2030 comes, the transformation will be nearly complete and those who didn’t see the future coming will be left behind. This is good news for electricity lovers. Despite the naysayers and scammers, it’s happening and faster than we dared hope.

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