How funding will help boat fishing take another leap forward in engine development
Boat fishing may have taken another step forward in the development of electric engines following the successful closure of a funding round totaling $37.5m by electric motors manufacturer, Pure Watercraft.
The funding was led by L37, a venture capital and private equity firm whose Managing Partner, Randall Ussery, joins the Pure Watercraft board. The Seattle company’s first product is an electric outboard motor system with the propulsion equivalent of up to 50HP gas outboards.
Its long-life lithium-ion battery has the most energy for weight of any battery pack in marine – about the same as that of a Tesla Model 3, according to Pure Watercraft. “The quiet power offers a big advantage to catch more fish,” says TV host and pro bass angler, Troy Lindner.
Complete package fishing and pontoon boats are available from Bass Pro Shops, while drop-in replacement outboard motor systems or complete packages can be bought directly.
“Investors and consumers alike appreciate electric boating innovation like never before,” said Pure Watercraft CEO, Andy Rebele. “This investment will help us grow our team and deliver game-changing products starting next year to meet growing demand.”
Ussery said his firm was inspired by Pure Watercraft’s vision for the future of electric boating. “They are redefining the entire customer experience, starting with the largest, most popular power class globally. We’re thrilled to invest in a company whose significant innovations, capabilities and efficiency can also be applied in other powersports categories where electrification has lagged.”
Founded in 2011, Pure Watercraft is focused on making quieter, more environmentally-friendly boats for better fishing and socialising.