Electric propulsion manufacturer Evoy has announced that it will receive a €16 million ($17.3 million) grant from the EU Innovation Fund. The financing will help establish a new production facility and headquarters in Flo, Norway. This marks an important milestone in its commitment to advancing electric boat technology.
This funding will not only secure existing jobs, but will also create new opportunities for Floro, thereby strengthening the local community and economy. The new plant will focus on the production of Evoy’s advanced electric engine system, which is designed for commercial and entertainment applications with outputs ranging from 120 to 400 horsepower, providing superior performance while minimizing environmental impact.
Evoy is now an integral part of Evoy Vita, and Evoy and electric propulsion manufacturer Vita announced a strategic partnership in July to consolidate their position in the field. Evoy Vita is a leader in the newly established field of Marine electrification applications. Evoy offers high performance inboard and outboard engine systems with outputs from 120 to 400 HP, providing a plug and play solution for the mass market.
