Oceanvolt aims to transform marine propulsion both globally and in the EU by introducing a real, viable alternative to engines burning fossil fuels. Oceanvolt’s products comprise a range of axel and sail drive (SD) patented marine electric motors, which can replace current combustion engines with a high-torque, permanent magnet AC electric motor. The end result is a zero-carbon emission, noiseless propulsion system that requires nearly zero maintenance. Oceanvolt’s technology will help EU to achieve its clean energy and sustainable environment targets by reducing CO2, NOx, PM and other greenhouse gas emissions. In addition, replacing diesel engines with electric motors has other positive environmental effects, such as reduction of leakages of oil and fuel to the sea and prevention of small particle releases from diesel to air.
Compared to diesel engines, Oceanvolt provides their customers added value in several ways.
1) Significant and permanent reduction of CO2, NOx, PM and other greenhouse gas emissions.
2) Lower cost of transporting goods and people due to the higher efficiency of electrical engines.
3) Lower Total Cost of Ownership (TCO) of boats by negligible operative and maintenance expenses, directly affecting the cost of transportation and boosting competitiveness. Payback time for Oceanvolt product is 12-24 months.
4) Improved reliability of transportation: electric motors are more reliable than combustion engines.
5) Longer lifetime of propulsion systems. Electrical motors have a significantly longer (usually 3x) lifetime than diesel engines.
6) Reduction of noise and vibrations generated by boat engines by as much as 95%, leading to less noise pollution in urban areas.
Oceanvolt’s technology and products are able to replace a significant percentage of the diesel engines sold currently worldwide. The environmental impact of the replacement of just 120,000 diesel engines to electric propulsion systems would reduce the carbon emissions up to 607 000 tons/year, equal to the pollution from over 160,000 cars annually. This is because electric propulsion produces zero carbon emissions.
Oceanvolt has been growing with a CAGR of +475% during the last six years, and the company aims to 60M€ annual revenue and to employ several hundred by the 2020. Oceanvolt’s products comprise a range patented marine electric motors, 24/7 remote management and monitoring services and hybrid propulsion solutions. While a major part of markets resides outside the EU, Oceanvolt will be enhancing EU’s export structure, as well as manufacturing within EU. Oceanvolt will employ hundreds of new people in the EU in both white & blue collar roles and maintain EUs competitive position in the global market. Oceanvolt will also make travelling for commuters safer, more reliable and quieter in inland waterways and cities, which is the fastest growing market for marine propulsion.
