Evoy is making waves in the electric marine industry with the recent announcement of a €16 million grant from the EU’s innovation fund. This funding will help establish a new headquarters and production facility in Florø, Norway, marking a pivotal step in its mission to revolutionize sustainable boating.
As one of only eight Norwegian companies selected for this substantial support, Evoy is set to enhance its production capabilities and drive innovation in electric marine technology. This investment not only highlights confidence in Evoy’s business model but also enables the company to better serve a growing number of boating enthusiasts and businesses looking to go green.
“We are deeply honored and grateful to receive this grant in support of our mission to accelerate the transition to sustainable, emission-free boating,” said Leif Stavøstrand, CEO of Evoy. “This recognition reinforces our commitment to reducing maritime pollution through innovative electric motor systems and brings us one step closer to decarbonizing the industry. We extend our heartfelt thanks to all our partners and stakeholders who have supported us on this journey.”
The funding will significantly benefit the Florø community by securing existing jobs and creating new opportunities, thereby boosting the local economy. The new facility will focus on producing Evoy’s cutting-edge electric motor systems, which cater to both commercial and recreational boating applications. With horsepower ranging from 120 to 400, these systems deliver high performance while minimizing environmental impact.
Beate Therese Solheim-Grønnevik, CFO of Evoy, expressed gratitude for the support from Kinn Municipality, which played a crucial role in the application process. She also thanked Nordic Innovators for their assistance and iVest for exploring various design opportunities for the facility.
In addition to building the factory, the funding will contribute to lowering global CO2 emissions by supporting every system sold. Evoy’s electric motors are designed for seamless integration, providing plug-and-play solutions that make transitioning to electric boating easier than ever.
Evoy is also a significant part of Evoy Vita, a collaboration that combines Evoy’s electric motor systems with Vita’s expertise in electric commercial workboats. Vita’s fully electric RIBs are perfect for port, marina, Coast Guard, and sport club operations. Together, they are setting a new standard in electric boating with some of the fastest charging systems available, capable of recharging from 10 percent to 80 percent in less than an hour.
As Evoy continues to lead the charge in electric marine technology, this funding marks a major milestone toward a sustainable future on the water.
