Periodic Reporting for period 1 - Full Electric Boats (New full-electric propulsion system, completely submerged in water, for zero-emissions navigation)
Reporting period: 2016-06-01 to 2016-09-30
The goal of our project is to launch on the boating market a zero-emissions propulsion system that can be installed on boats up to 10-12 meters long. This goal will be reached by developing an electric propulsion system that is completely submerged in water. With its wide range of power (10-25-50 Kw) and high endurance (over 2 hours), it will be able to be installed on both pleasure craft and passenger boats.
The freedom to operate analysis has confirmed that there is not any existing patent that could interfere with the implementation of the new propulsion system.
Some important shipyard companies were contacted to let them play the role of early adopters, explaining to them the project vision and the advantages the new propulsion system can bring.
They have been identified all potential risks which can affect the advancement of the project, their consequences and the probability they could happen. It has been defined a list of risk-mitigation measures.
The business planning has allowed us to define with precision all the economic elements involved in our project and the related investment needs. The projections developed in the business plan are positive, therefore they encourage us to continue the project.
Other advantages include lower operating costs, completely silent operation and the ability to travel in protected areas in seas, lakes and rivers where boats with internal combustion engines are prohibited.