GlobeNewswire by notified

Vita and Evoy unite to become Europe’s leader in high-power electric marine propulsion for inboard and outboard applications, just one year after their first meeting at the Yacht Club de Monaco

Share

MONACO, July 05, 2024 (GLOBE NEWSWIRE) -- At the Monaco Energy Boat Challenge, organised by the Yacht Club de Monaco, electric marine technology experts, Vita and Evoy, announced today that they are joining forces to consolidate their leading positions in the high-output space.

The integration of two of the most mature companies in electric propulsion is anticipated to accelerate electric boat adoption in both commercial and recreational markets by leveraging scale to drive down prices for the end user, fast tracking development, and providing immediate access to territories across Europe and North America with active operations in the UK, Norway, France, Italy, Monaco and California.

The combination of Vita’s experience integrating high-performance electric propulsion into a diverse portfolio of vessels from commercial RIBs to superyacht tenders with Evoy’s best-in-class, plug-and-play, powertrain technology and scalable production platform will allow the new group to leverage fourteen years of combined experience. Together, Vita and Evoy are positioned to deliver market-leading products — building on the shared belief that high-output systems with DC-charging capability present the most robust solutions for the widest range of marine applications.

The announcement reflects a new era of growth in the electric marine market, with both companies experiencing increasing demand from operators and boatbuilders alike. Evoy’s high-output inboard and outboard systems are currently in operation in 19 countries, supported by an established dealership network and strong use cases in commercial segments such as aquaculture and tourism. Meanwhile Vita’s line of fully electric Seal and SeaDog RIBs are being adopted by commercial marine operators in Europe, the US, the Caribbean and the Middle East. Elsewhere, Vita is engaged in a variety of electrification projects with third parties in both commercial and recreational markets, including the propulsion system for the Tridente, a high-performance electric dayboat recently launched by Maserati.

The new group will benefit from a financing round led by existing Vita shareholders and supported by Evoy investors including Axopar.

Announcing the launch at the annual Monaco Energy Boat Challenge, Vita Founder and Lead Investor, Stewart Wilkinson, said, “Our conversation started last year at the Yacht Club in Monaco, the leader in Advanced Yachting, and it’s great to be announcing this deal here. Our mission to decarbonise the marine industry aligns strongly with Monaco’s commitments to ocean preservation. I am excited to bring Vita and Evoy together to continue building the leading force in marine electric powertrain technology.”

Founder and CEO of Evoy, Leif Stavøstrand, said, “The future of the marine industry is electric, and today’s announcement is the most important milestone so far in the voyage towards marine decarbonisation. The combined technology and teams will represent a global leader in the marine electrification, accelerating the transition to zero-emission propulsion. We are excited that two great companies are joining forces, and I am honoured to play a part in it.”

Notes to Editor

For more information:
Press Office LaPresse - ufficio.stampa@lapresse.it

About Vita

Vita is a marine technology company that develops and integrates high performance electric powertrains for commercial and recreational marine applications. One of the highest performance powertrains on the market, Vita Power systems integrate the latest technology with proprietary control software to deliver peak power between 100hp and 600hp. Vita Power was the first electric powertrain to be compatible with high-speed DC charging and is among the fastest charging on the market, supercharging from 10%-80% in under an hour.
www.vita-power.com

About Evoy

The shift to electric boating is happening now, powered by Evoy. Evoy is the market leader in performance inboard and outboard electric boat motor systems – delivering 120-400 continuous hp. We develop and deliver high-output, 100% electric, plug-and-play systems for boats sized 20-50 feet. With a mission to reduce boating emissions without compromising on power or ease of use, Evoy builds the technology of tomorrow, today.
www.evoy.no

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/757b303f-bb2b-48ba-b27f-adb672e6f2ca

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release

Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a

DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release

Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68

Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release

Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.

Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release

AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us

Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release

VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin

HiddenA line styled icon from Orion Icon Library.Eye