RAD Propulsion, UK developer of the RAD 40 electric outboard, has secured £1m in investment from Ocean Infinity, a fast-moving marine technology firm that creates innovative robotic solutions to transform operations at sea.SHOW FULLSCREEN

The investment is part of a raise round to facilitate RAD’s rapid operational scale up as its RAD 40 electric drive goes into mass production. This is a pivotal year for RAD which sees its products become available to OEM partners around the world as it capitalises on the demand in this US$12bn rapidly growing market, with new product development underway too.

RAD’s launch customers include boatbuilders in the US, Finland, Australia, Spain, Norway and the UK.

“Our relationship with RAD Propulsion will accelerate the adoption of electric propulsion in the marine world – an important step in the transition away from reliance on fossil fuels,” says Oliver Plunkett, CEO of Ocean Infinity. “The opportunity for this rapidly growing business to have a major impact on the future environmental footprint of the marine industry is truly exciting.”

Dan Hook, CEO of RAD Propulsion, says the demand for marine electrification is accelerating at a fast pace. “With 95% of new boats still consuming fossil fuels, the need is clear. Ocean Infinity identified RAD’s unique, tech focussed approach which ideally positions us to deliver boatbuilders, commercial operators and high-end leisure users, the solutions they need to reduce their carbon footprint.

“We are grateful for this significant investment which will support us to deliver stand out milestones in 2024 and beyond.”