Flux Marine, a developer of electric outboard motors and battery systems for watercraft, has raised $15.5 million in an oversubscribed Series A funding round led by Ocean Zero. The company will use the new funding to expand manufacturing, recruit additional talent, and continue to develop its technologies.
Flux Marine says its outboard motors “reflect years of proprietary engineering in solid-state components, thermal systems, and battery technology,” and provide “unmatched acceleration, optimal range and zero maintenance without increasing the overall weight of a boat.”
Boaters can now preorder the company’s 15 hp, 40 hp and 70 hp standalone electric outboards, or choose from electric boat packages with up to 100 hp. A Flux Marine 100 hp outboard mounted on a 22-foot dual-console hull delivers top speeds nearing 35 knots and a range of more than 75 nautical miles.
According to Flux Marine, recreational boats, which are not required to have catalytic converters in the US, release vast amounts of particulates into the atmosphere, and discharge as much as 150 million gallons of unburned gasoline into rivers, lakes and oceans annually. Flux Marine’s mission is to seriously reduce the release of these pollutants.
Flux Marine says its electric outboards also eliminate the maintenance grief of standard combustion engines: impeller replacement, spark plugs, hoses, filters, lubrication systems and winterization.
“Our innovative ground-up design is an entirely new efficient electric propulsion system, rather than a retrofit of electric vehicle components into a typical outboard casing,” said Ben Sorkin, CEO of Flux Marine. “By reimagining the outboard motor, we’re delivering the performance boaters expect, while eliminating the pollution and minimizing the noise and maintenance owners have come to accept from traditional outboards.”
“Ocean Zero invests in innovative young companies that can make a breakthrough difference in decarbonizing transportation on the world’s oceans, rivers and seas,” said Stephen Petranek, Operating Partner for Ocean Zero. “Flux Marine can make a significant impact on climate change if even a fraction of the 800,000 outboard engines sold each year can be replaced by fully electric motors.”
Source: Flux Marine