Periodic Reporting for period 2 - Electric Voyage (100% electric high-power and intelligent propulsion system for new and used boat)
Reporting period: 2021-12-01 to 2023-02-28
Small fast boats are responsible for generating 10-15 times more CO2 than land vehicles for the same distance traveled, which is equivalent to the total amount of CO2 produced by domestic flights in Norway. This not only poses significant harm to marine ecosystems but also to the health of individuals working in close proximity to fossil-fuel-powered boats. Consequently, it is essential to transition from fossil fuels to all-electric boating, particularly for professional users in aquaculture and ecotourism sectors.
However, current all-electric boats face significant performance issues and are expensive and time-intensive to electrify compared to their internal combustion engine (ICE) counterparts, which have better speed and range. E-G2, a revolutionary electric marine propulsion package for boats up to 50ft long, offers a game-changing solution that addresses these issues. It allows professional and recreational boat users to travel faster and longer than any other electric boat, achieve autonomy and class-leading efficiency, and save over €400,000 compared to fossil fuel engines for voyage-intensive professional boat users over the lifetime of their vessel.
E-G2's roll-out is expected to create jobs and drive electrification in the maritime industry, similar to how Tesla has impacted the car industry. This will strengthen Europe's position in both the maritime industry and green transport while also contributing to achieving the Green Deal objective of accelerating the shift towards sustainable and smart mobility. Evoy's system is expected to slash the carbon emissions from the marine transport system by 97%, which is equivalent to 283,000 tons of CO2 by 2027.
During the product maturing phase, Evoy has achieved successful optimization of the E-G2 system, achieving a harmonious balance between energy content, power output, charging abilities, cost and significantly reducing the overall system weight. Furthermore, Evoy has carried out a large-scale piloting phase and conducted a meticulous analysis of the E-G2 system, which has solidified the company's confidence in the system's potential in the market. This has laid an essential foundation for Evoy's updated business plan.
However, current all-electric boats face significant performance issues and are expensive and time-intensive to electrify compared to their internal combustion engine (ICE) counterparts, which have better speed and range. E-G2, a revolutionary electric marine propulsion package for boats up to 50ft long, offers a game-changing solution that addresses these issues. It allows professional and recreational boat users to travel faster and longer than any other electric boat, achieve autonomy and class-leading efficiency, and save over €400,000 compared to fossil fuel engines for voyage-intensive professional boat users over the lifetime of their vessel.
E-G2's roll-out is expected to create jobs and drive electrification in the maritime industry, similar to how Tesla has impacted the car industry. This will strengthen Europe's position in both the maritime industry and green transport while also contributing to achieving the Green Deal objective of accelerating the shift towards sustainable and smart mobility. Evoy's system is expected to slash the carbon emissions from the marine transport system by 97%, which is equivalent to 283,000 tons of CO2 by 2027.
During the product maturing phase, Evoy has achieved successful optimization of the E-G2 system, achieving a harmonious balance between energy content, power output, charging abilities, cost and significantly reducing the overall system weight. Furthermore, Evoy has carried out a large-scale piloting phase and conducted a meticulous analysis of the E-G2 system, which has solidified the company's confidence in the system's potential in the market. This has laid an essential foundation for Evoy's updated business plan.
During the product maturing phase, Evoy has successfully optimized the E-G2 system to achieve a perfect balance between energy content, power output, charging abilities, and cost while greatly reducing the overall system weight. The new generation has undergone a large scale piloting period to validate and demonstrate its maturity, positioning it as an E-volution for the electric boat market. The system is a plug & play, easy to install, and a powerful motor that can fit any kind of boat, including retrofits. It is best suited for fast boats ranging from 20 to 50ft and offers up to 800 hp at peak, along with world-leading speed and range capabilities, making it the fastest electric motor available in the market and THE solution for making the shift to more sustainable boating possible. Additionally, the new cooling system allows the motor to navigate into warmer seas such as the tropics or Middle East.
Moreover, the next generation of the Hurricane Electric Inboard has been re-designed, making it more compact and easier to install. The electric system is robust and designed for +1000 hours per year, and with open API and SaaS fleet management software, one can monitor their fleet in real-time, predict maintenance capacities, and have OTA-over the air software updates and remote maintenance from the Evoy team.
Evoy has engaged in various activities to exploit the project results, such as creating and marketing new products and services based on technology developments, collaborating with industry partners to integrate our technology into their products, sharing knowledge and skills through workshops and training programs, and utilizing data to inform further research activities both within and outside the project. Furthermore, we have contributed to public policy agenda setting and policy formulation, as well as supported standardization activities.
Evoy have developed roadmaps to guide future development and implementation of technology and created prototypes to demonstrate the feasibility and potential applications of our innovations. Updating the business plan and focusing on the commercialization of the E-G2 system will allow us to fully exploit the innovative technology developments resulting from the project, generate new revenue streams, establish partnerships with other companies, and maintain our competitive edge in the industry.
Evoy's goal is to position themselves as the market leader of high-output electric motor systems, educate people about electric boating, drive traffic, and sales. Their marketing efforts include PR, sharing content on social media, and being present at conferences and events. These efforts have resulted in a 57% increase in traffic YoY.
Moreover, the next generation of the Hurricane Electric Inboard has been re-designed, making it more compact and easier to install. The electric system is robust and designed for +1000 hours per year, and with open API and SaaS fleet management software, one can monitor their fleet in real-time, predict maintenance capacities, and have OTA-over the air software updates and remote maintenance from the Evoy team.
Evoy has engaged in various activities to exploit the project results, such as creating and marketing new products and services based on technology developments, collaborating with industry partners to integrate our technology into their products, sharing knowledge and skills through workshops and training programs, and utilizing data to inform further research activities both within and outside the project. Furthermore, we have contributed to public policy agenda setting and policy formulation, as well as supported standardization activities.
Evoy have developed roadmaps to guide future development and implementation of technology and created prototypes to demonstrate the feasibility and potential applications of our innovations. Updating the business plan and focusing on the commercialization of the E-G2 system will allow us to fully exploit the innovative technology developments resulting from the project, generate new revenue streams, establish partnerships with other companies, and maintain our competitive edge in the industry.
Evoy's goal is to position themselves as the market leader of high-output electric motor systems, educate people about electric boating, drive traffic, and sales. Their marketing efforts include PR, sharing content on social media, and being present at conferences and events. These efforts have resulted in a 57% increase in traffic YoY.
Driven by our vision of eliminating boating emissions globally, E-G2 is the result of our extensive research into current professional and recreational boater’s operations, including the all-electric pathway as a serious, industrially relevant propulsion candidate. The E-G2 design has been carefully crafted to meet the performance, environmental, economic, and ease-of-use criteria of boating operations both today and in the future.
The E-G2 system represents a significant breakthrough in maritime propulsion technology and is a firm world's first candidate to replace classic maritime ICE propulsion. By doing so, it unlocks fuel and operational cost savings of up to 80% when compared to ICEs. Moreover, the E-G2 system can reduce CO2 emissions by up to 97% on average, providing virtually silent boating that will greatly benefit professional boat operators and people living in areas adjacent to boat connections. The E-G2 system has the potential to create new jobs within the European cleantech and maritime sector, contributing to Europe's position at the forefront of both the maritime industry and green energy.
The E-G2 system represents a major advancement beyond the state of the art in maritime propulsion technology. As the project concludes, the E-G2 system is fully optimized and ready for large-scale commercialization, with the potential to revolutionize the maritime industry and drive the transition to more sustainable forms of boating. The socio-economic impact of this project is significant, as the widespread adoption of the E-G2 system has the potential to create new jobs within the cleantech and maritime sector, while also reducing costs and emissions for boat operators. Moreover, the wider societal implications of this project are immense, as the E-G2 system can contribute to the fight against climate change by significantly reducing greenhouse gas emissions in the maritime sector.
In conclusion, the E-G2 system represents a major breakthrough in maritime propulsion technology and has the potential to revolutionize the industry. By eliminating emissions and reducing costs for boat operators, the E-G2 system can contribute to the fight against climate change while also creating new jobs within the cleantech and maritime sector. This project is a prime example of Europe's leadership in the green energy and maritime industries, and its impact will be felt for years to come.
The E-G2 system represents a significant breakthrough in maritime propulsion technology and is a firm world's first candidate to replace classic maritime ICE propulsion. By doing so, it unlocks fuel and operational cost savings of up to 80% when compared to ICEs. Moreover, the E-G2 system can reduce CO2 emissions by up to 97% on average, providing virtually silent boating that will greatly benefit professional boat operators and people living in areas adjacent to boat connections. The E-G2 system has the potential to create new jobs within the European cleantech and maritime sector, contributing to Europe's position at the forefront of both the maritime industry and green energy.
The E-G2 system represents a major advancement beyond the state of the art in maritime propulsion technology. As the project concludes, the E-G2 system is fully optimized and ready for large-scale commercialization, with the potential to revolutionize the maritime industry and drive the transition to more sustainable forms of boating. The socio-economic impact of this project is significant, as the widespread adoption of the E-G2 system has the potential to create new jobs within the cleantech and maritime sector, while also reducing costs and emissions for boat operators. Moreover, the wider societal implications of this project are immense, as the E-G2 system can contribute to the fight against climate change by significantly reducing greenhouse gas emissions in the maritime sector.
In conclusion, the E-G2 system represents a major breakthrough in maritime propulsion technology and has the potential to revolutionize the industry. By eliminating emissions and reducing costs for boat operators, the E-G2 system can contribute to the fight against climate change while also creating new jobs within the cleantech and maritime sector. This project is a prime example of Europe's leadership in the green energy and maritime industries, and its impact will be felt for years to come.