{"id":8275,"date":"2024-02-07T09:23:14","date_gmt":"2024-02-07T01:23:14","guid":{"rendered":"https:\/\/www.boatshowchina.com\/?p=8275"},"modified":"2024-02-07T09:23:15","modified_gmt":"2024-02-07T01:23:15","slug":"rad-propulsion-secures-1m-in-funding","status":"publish","type":"post","link":"https:\/\/www.boatshowchina.com\/en\/latest-news\/archives\/8275","title":{"rendered":"RAD Propulsion secures \u00a31m in funding"},"content":{"rendered":"\n

RAD Propulsion, UK developer of the RAD 40 electric outboard, has secured \u00a31m in investment from Ocean Infinity, a fast-moving marine technology firm that creates innovative robotic solutions to transform operations at sea.SHOW FULLSCREEN<\/p>\n\n\n

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The RAD outboard<\/figcaption><\/figure>\n<\/div>\n\n\n

The investment is part of a raise round to facilitate RAD\u2019s 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.<\/p>\n\n\n\n

RAD\u2019s launch customers include boatbuilders in the US, Finland, Australia, Spain, Norway and the UK.<\/p>\n\n\n\n

\u201cOur relationship with RAD Propulsion will accelerate the adoption of electric propulsion in the marine world \u2013 an important step in the transition away from reliance on fossil fuels,\u201d says Oliver Plunkett, CEO of Ocean Infinity. \u201cThe opportunity for this rapidly growing business to have a major impact on the future environmental footprint of the marine industry is truly exciting.\u201d<\/p>\n\n\n\n

Dan Hook, CEO of RAD Propulsion, says the demand for marine electrification is accelerating at a fast pace. \u201cWith 95% of new boats still consuming fossil fuels, the need is clear. Ocean Infinity identified RAD\u2019s 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.<\/p>\n\n\n\n

\u201cWe are grateful for this significant investment which will support us to deliver stand out milestones in 2024 and beyond.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

UK developer of the RAD 40 electric outboard receives funds from Ocean Infinity.<\/p>\n","protected":false},"author":5,"featured_media":8273,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[],"class_list":["post-8275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","entry"],"_links":{"self":[{"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/posts\/8275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/comments?post=8275"}],"version-history":[{"count":1,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/posts\/8275\/revisions"}],"predecessor-version":[{"id":8276,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/posts\/8275\/revisions\/8276"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/media\/8273"}],"wp:attachment":[{"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/media?parent=8275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/categories?post=8275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/tags?post=8275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}