A new way to own, drive and maintain a boat

Project Information

Ghost Boat

Grant agreement ID: 775333

DOI

10.3030/775333

Project closed

EC signature date 1 May 2017

Start date 1 May 2017

End date 31 August 2017

Funded under

• SOCIETAL CHALLENGES - Smart, Green And Integrated Transport

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

D&A EXPERIENCES OY
Finland

Periodic Reporting for period 1 - Ghost Boat (A new way to own, drive and maintain a boat)

Reporting period: 2017-05-01 to 2017-08-31

Summary of the context and overall objectives of the project

G-Boats™ is the creation of a personal need. There was no boat in the market which had been designed and optimised for electric propulsion. So we created one. During this exciting process we were surprised where it took us. More than just building a beautiful boat with optimised hydrodynamics, we created a game changing boating experience of tomorrow. The lines of G-Boats™ speak of heritage but the unique driving experience and the details speak of future.

G-Boats™ makes leisure boating for the new generations easier to practice and affordable. Moreover, our unique product requires little maintenance, has excellent maneuverability and control, is safer in waters and is environmetally friendly and very quiet.

To the society our innovation changes the boating experience breaking the cost barrier through new ownership models and onboard technologies, while endorsing heritage as a core value.

The objective of this project was to evaluate the feasibility of our business. Our findings show that G-Boats™ is feasible, possible, viable, profitable and sustainable. Our overall objective is to get the prototype to a commercial product and sell it in an international market.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

Task 1 – Operational and Technical Feasibility

We have assessed the costs of design of G-Boats™ from prototype to commercial product. We have tested and verified technical features and found the optimal design for the final product.

We have evaluated organisational gaps and determined ways how to fill these gaps in the most viable way, either by recruiting or by making strategic partners/alliances.


Task 2 - In-depth Market Assessment and Commercial Feasibility

We conducted a thorough market analysis in order to determine the need for further cost optimisation. We assessed target markets and customer behavior.

We have investigated the market risks in depth and established corresponding mitigation strategies. We have assessed the current IPR status, “freedom to operate analysis” and identified knowledge protection strategies.

We evaluated our business model and pricing strategy against competition.


Task 3 – Financial Feasibility

We have evaluated and determined the costs and returns of the investment. Following the investment requirements study, we have assessed the financial risks and established mitigation strategies for financing.

We have created a 5 year cashflow forecast based on market studies and growth predictions.


Task 4 – Partners Search

We have identified external strategic alliances needed to commercialise G-Boats™ in the target markets.


Task 5 – Risk Assessment

We investigated the technical risks and business risks in depth and established corresponding mitigation strategies.


Task.6 – Work Plan

We have created a 2-year implementation work plan to get the prototype into a market-ready product.


Task 7 – Elaborated Business Plan

All findings of Tasks 1 - 6 were used to create a Business Plan. This document is a living document and will be updated

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

We have created a boat that is optimised for electric propulsion, that is environmentally friendly, easier and safer to sail and affordable and accessible to many.

This project confirmed the feasibility and viability of this product to our business. We will continue pursuing this business opportunity by raising more funds to minimise financial risk and grow faster.

Impact on society:
High economic impact
Safer and exciting boating experience for users with modest boating experience
Completely carefree boating with no yearly hauls and servicing
Access Economy based models

G-Boats novel electric boat