Evoy receives €16m for new headquarters and factory
Norwegian electric boat manufacturer Evoy has been awarded €16m as part of a funding initiative from the EU’s innovation fund.
The funding will be used to establish the company’s new headquarters and production facility in Florø, Norway. Evoy is one of eight Norwegian companies to receive support from this initiative, which the firm says will enhance its production capacity and support further innovation in electric marine technology.
“We are deeply honoured and grateful to receive this grant in support of our mission to accelerate the transition to sustainable, emission-free boating,” says 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 decarbonising the industry. We extend our heartfelt thanks to all our partners and stakeholders who have supported us on this journey.”
Beate Therese Solheim-Grønnevik, CFO of Evoy, adds: “We would like to acknowledge the valuable support from Kinn Municipality. Their guidance and input on site potential, along with the developed plans, have significantly strengthened our application. We would also like to thank Nordic Innovators, who assisted with the applications, and iVest, who helped us look into different design opportunities for each of the locations that have been considered in the process.”
Evoy team
Evoy’s high-output inboard and outboard systems are currently in operation in 19 countries, supported by an established dealership network. The firm recently announced a merger with marine technology company Vita.
The new facility will focus on producing Evoy’s electric motor systems, which are designed for both commercial and recreational use. Evoy believes it’s the market leader in performance inboard and outboard electric boat motor systems, delivering 120-400 continuous hp. It develops and delivers high-output, 100 per cent electric, plug-and-play systems for boats sized 20-50 feet.
The investment is also expected to secure existing jobs in Florø and create new employment opportunities in the region.
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