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Flux Marine gears up with $15.5M to electrify boating experience

Flux Marine
Image credits: Flux Marine

Flux Marine, a Bristol-based electric marine propulsion system provider, announced that it has raised $15.5M in an oversubscribed Series A fund led by Ocean Zero LLC. 

Other investors, including Boost VC, Winklevoss Capital, and existing seed and angel investors, joined the round.

How will the funding be used?

The company will use funds to expand manufacturing, recruit additional talent, and continue to develop its advanced technologies. 

“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. 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,” says Ben Sorkin, CEO of Flux Marine. “We are excited by the support of Ocean Zero and all of our investors as we continue to expand our team and manufacturing facility at our new headquarters in Bristol, Rhode Island.”

Recreational boating, which still does not require catalytic converters, releases vast amounts of particulates into the atmosphere and discharges as much as 150M gallons of unburned gasoline into rivers, lakes, and oceans annually. 

And that’s what US’s Flux Marine aims to change through its sustainable technology.

Flux Marine: What you need to know

Founded by Benjamin Sorkin, Daylin Frantin, and Jonathan Lord in 2018, Flux Marine develops advancing electric marine propulsion technology to deliver zero-emissions performance without cutting any corners. 

The company has developed electric outboard motors and battery systems that deliver power and reliability, eliminating the CO2 emissions and pollution that plagues gasoline and diesel-powered boats.

Flux Marine says by completely redesigning the outboard motor to deliver zero-emissions power its electric outboards exceed the performance of fossil-fuel engines.

Currently, the company offers – 15HP, 40HP, 70HP, and 100 HP electric outboard models. According to the company, 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 on a single charge.

Besides its ecological benefits, the company’s electric outboards eliminate the maintenance process of standard combustion engines, such as impeller replacement, spark plugs, hoses, filters, lubrication systems, and winterisation. 

The company publicly debuted its line of all-electric outboards at the 2021 Newport International Boat Show where it was twice recognised with best new products awards. 

Boaters can preorder Flux Marine’s 15HP, 40HP, and 70HP electric standalone outboards or choose from multiple electric boat packages with up to 100HP. 

“The Northeast is a fantastic place for Flux Marine to grow – both Rhode Island and Connecticut have been powerful allies as we begin to scale our operations,” says Sorkin. “We recently secured tax incentives from the State of Rhode Island that will help us grow our team in the Ocean State, we’re working closely with Connecticut’s AdvanceCT to inshore manufacturing, and we partnered with the RCI Group to be part of a world-class destination center on Steelpointe Harbor.”

Investor

Ocean Zero, LLC makes inflection point investments in innovative technology companies that can help eliminate fossil fuels from our waters globally.

“Ocean Zero invests in innovative young companies that can make a breakthrough difference in decarbonizing transportation on the world’s oceans, rivers, and seas,” says Stephen Petranek, Operating Partner for Ocean Zero LLC. “Commercial shipping by sea and recreational boating produce more CO2 emissions each year than all the world’s airlines combined. 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. Electrification of recreational boating will make a remarkable reduction in the ridiculous amounts of pollution produced by internal combustion outboard motors.” 

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