Vita and Evoy are to join forces to consolidate their leading positions in electric propulsion.
The integration of the two companies is anticipated to accelerate electric boat adoption in both commercial and recreational markets.
It is planned that by leveraging scale, prices will be driven down for the end user and development will be fast tracked with access to territories across Europe and North America and active operations in the UK, Norway, France, Italy, Monaco and California.
The partnership will combine Vita’s experience integrating high-performance electric propulsion into a diverse portfolio of vessels from commercial RIBs to superyacht tenders with Evoy’s plug-and-play, powertrain technology and scalable production platform.
It will allow the new group to use 14 years of the companies’ combined experience.
The companies say the announcement reflects a new era of growth in the electric marine market, with both experiencing increasing demand from operators and boatbuilders alike.
Evoy’s high-output inboard and outboard systems are currently in operation in 19 countries, and Vita’s line of electric Seal and SeaDog RIBs are being adopted by commercial marine operators in Europe, the US, the Caribbean and the Middle East.
The future of the marine industry is electric.
Leif Stavøstrand
Elsewhere, Vita is engaged in a variety of electrification projects with third parties in both commercial and recreational markets, including the propulsion system for the Tridente, a high-performance electric dayboat recently launched by Maserati.
The new group will benefit from a financing round led by existing Vita shareholders and supported by Evoy investors including Axopar.
Announcing the launch at the annual Monaco Energy Boat Challenge, Vita founder and lead investor, Stewart Wilkinson, said: “Our conversation started last year at the Yacht Club in Monaco, the leader in advanced yachting, and it’s great to be announcing this deal here.
“Our mission to decarbonise the marine industry aligns strongly with Monaco’s commitments to ocean preservation.
“I am excited to bring Vita and Evoy together to continue building the leading force in marine electric powertrain technology.”
Founder and CEO of Evoy, Leif Stavøstrand, added: “The future of the marine industry is electric, and today’s announcement is the most important milestone so far in the voyage towards marine decarbonisation.
“The combined technology and teams will represent a global leader in the marine electrification, accelerating the transition to zero-emission propulsion. We are excited that two great companies are joining forces, and I am honoured to play a part in it.”
