ePropulsion secures substantial funding to further advance research and development in innovative technology


Dec 6, 2021

ePropulsion, a global leader and market challenger in marine electric propulsion systems and services, has announced that it has secured hundreds of millions RMB (Chinese Yuan) in B+ Series funding, equating to tens of millions of U.S. dollars.

The funding was acquired from investors including Lightspeed China Partners, and other existing shareholders who believe in the potential of ePropulsion and its industry-leading innovations. ePropulsion has now sold over 12,000 units and achieved an annual sales growth of 150% this year. The company anticipates sales to double again in 2022.

ePropulsion will use the acquired funds to increase its investment in technology development and innovative research as well as:

• Improving and upgrading the existing product line

• Developing larger horsepower electric propulsion systems which meet the rapidly growing market demand

• Developing autonomous boating technology and the ‘Internet of Boats’ to strive to introduce a smarter boating experience to the world

• Increasing investment in the expansion of domestic and international markets, conducting in-depth exploration in the already-reached markets, and rapidly expanding in and seizing emerging markets

• Increasing investment in worldwide employee acquisition to attract outstanding talent and ensure organizational and operational efficiency and effectiveness

“We are incredibly excited about the funding that’s been secured and the technological advancements and innovations this will support,” said Danny Tao, co-founder and CEO of ePropulsion. “Driven by the increasing global environmental protection and carbon-neutral demand, the electric marine market is developing rapidly and is the future trend. We want to be at the very forefront of the industry and through continuous innovation, research and development, and market expansion, we hope to apply environmentally-friendly, efficient and intelligent ePropulsion products to more waters, and provide more users with a great experience.”

“The electrification of shipping and boating power systems has become the new focal point in the green economy as the industry strives for carbon neutrality and sets strategic goals for carbon peaking,” said James Mi, founding partner of Lightspeed China Partners. “With years of outstanding research and development, ePropulsion is a market leader in the field of electric marine power systems, making a significant impact to the green and low-carbon development of the entire industry. We are very optimistic about ePropulsion making further breakthroughs moving forward and contributing to the global mission of carbon neutrality.”

Jia Zhu, partner of Lightspeed China Partners, added, “Marine transportation is responsible for contributing to global carbon emissions, and as a result the electrification of shipping and boating power to offset carbon is crucial. ePropulsion’s low-energy, quiet, and pollution-free electric outboard motors are widely acclaimed in the European and American markets especially, and its business scale is growing explosively. The company continues to innovate in artificial intelligence and marine networking technology, and we are very optimistic about ePropulsion becoming the global leader in the field of new-energy marine power system.”

2022 is set to be an exciting year for ePropulsion, which celebrates its 10-year anniversary and the launch of its new vision to empower people with clean and intelligent technology that reconnects them with the aquatic environment, in tandem with its clear new mission to spearhead the coming electric and intelligent boating revolution. ePropulsion’s continued success is paving the way for more sustainable boating and a growing number of conscientious boat owners converting from petrol to electric propulsion outboards since its first product launch.

For more information on the ePropulsion or its revolutionary electric motors and accessories, please visit www.ePropulsion.com.


Related Posts

NMMA Canada’s Day on the Hill event hits a new high in 2024


While the Day on the Hill lobby session has been a key activity for NMMA Canada for many years now, I feel that the event hit a new high in the 2024 session in Ottawa on May 27 and 28th.

Lead by Executive Director Marie-France MacKinnon and executed by her team and their public affairs firm, BlueSky Strategy Group, the results were impressive. The NMMA Canada Board of Directors were organized into teams with business interests and special skills matched up to politicians and senior bureaucrats to most effectively present the marine industry’s agenda of issues. 

Read More

Need to Catch up on News This Week?

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you’re looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here.

The Hydrobike, a key concept that embodies a vision for the future

DECATHLON, determined to erase the boundary between land and water, introduces its latest forward-thinking concept: the HydroBike. This innovation from the French sports giant aims to democratize access to nature while staying ahead in the transformation of their business model. 

The initial assessment: paddle sports are often inaccessible to less experienced individuals, assuming the acquisition of paddling skills.

Read More

Compass works when electronics don’t

Hubbell-Marine Stainless steel outlet covers

Even in the event of an onboard power failure, a Ritchie Navigation SuperSport Helmsman SS-1002 magnetic compass still works. Plus, when the vessel is moving slowly in fog or while trolling, it can do something a GPS can’t: show the actual heading in real time. As a back-up to modern electronics, it’s a vital navigational tool that belongs on every commercial and recreational boat.

Read More