Vita and Evoy Unite to Become Europe’s Leader in High-Power Electric Marine Propulsion

Monaco – July 5, 2024 – Electric marine technology experts, Vita and Evoy, are joining forces to consolidate their leading positions in the high-output space.

The integration of two of the most mature companies in electric propulsion is anticipated to accelerate electric boat adoption in both commercial and recreational markets by leveraging scale to drive down prices for the end user, fast tracking development, and providing immediate access to territories across Europe and North America with active operations in the UK, Norway, France, Italy, Monaco, and California.

The combination of Vita’s experience integrating high-performance electric propulsion into a diverse portfolio of vessels from commercial RIBs to superyacht tenders with Evoy’s best-in-class, plug-and-play, powertrain technology and scalable production platform will allow the new group to leverage fourteen years of combined experience. Together, Vita and Evoy are positioned to deliver market-leading products — building on the shared belief that high-output systems with DC-charging capability present the most robust solutions for the widest range of marine applications.

The announcement reflects a new era of growth in the electric marine market, with both companies experiencing increasing demand from operators and boatbuilders alike. Evoy’s high-output inboard and outboard systems are currently in operation in 19 countries, supported by an established dealership network and strong use cases in commercial segments such as aquaculture and tourism.  Meanwhile Vita’s line of fully electric Seal and SeaDog RIBs are being adopted by commercial marine operators in Europe, the US, the Caribbean, and the Middle East. Elsewhere, Vita is engaged in a variety of electrification projects with third parties in both commercial and recreational markets, including the propulsion system for the Tridente, a high-performance electric dayboat recently launched by Maserati.

The new group will benefit from a financing round led by existing Vita shareholders and supported by Evoy investors including Axopar.

Announcing the launch at the annual Monaco Energy Boat Challenge, Vita Founder and Lead Investor, Stewart Wilkinson, said, “Our conversation started last year at the Yacht Club in Monaco, and it’s great to be announcing this deal here. Our mission to decarbonise the marine industry aligns strongly with Monaco’s commitments to ocean preservation. I am excited to bring Vita and Evoy together to continue building the leading force in marine electric powertrain technology.”

Founder and CEO of Evoy, Leif Stavøstrand, said, “The future of the marine industry is electric, and today’s announcement is the most important milestone so far in the voyage towards marine decarbonisation. The combined technology and teams will represent a global leader in the marine electrification, accelerating the transition to zero-emission propulsion. We are excited that two great companies are joining forces, and I am honoured to play a part in it.”