Knight & Carver Acquired by Hybrid Firm

Sunday, October 09, 2011

Arc Light Acquisition Adds Capabilities to Marine Compnay's Existing Services.

 

San Diego marine hybrid systems pioneer Arc Lite Power, LLC has signed an agreement to purchase National City shipyard Knight & Carver Maritime, the companies announced today. The $30 million total investment will expand the capabilities of the combined companies to serve the emerging “green marine” market.  Knight & Carver, a leading provider of marine construction and maintenance services since 1971, will continue its traditional offerings in addition to adding the operations of the world’s first global hybrid superyacht conversion and certification center.  An interim operating agreement will allow combined operations to begin immediately.

 

“The future has arrived for hybrid marine power,” said Sampson A. Brown, Knight & Carver’s Chairman of the Board. “We have reached the point where ‘going green’ isn’t simply a fad, it’s now a certifiably smarter, more efficient and more cost-effective way to operate a vessel.” Michael O’Leary, Knight & Carver Maritime President/CEO added “Knight & Carver’s team couldn’t be more delighted with the new opportunities presented by the acquisition; we look forward to providing this cutting-edge technology along with an aggressive pricing strategy to our clients.” Arc Lite Power and its affiliated company, EnergyTech Marine, have captured a leading position in hybrid marine propulsion with the Power Core® system, which obsoletes and replaces the standard marine diesel engines, generator sets and lead-acid battery banks found in the vast majority of vessels.  The firm’s technology has received industry honors as this current year’s “Environmental Innovation Product of the Year” at the prestigious IBEX (International Boatbuilders’ Exposition) held in Louisville, Kentucky. 

 

Arc Lite’s advanced systems will be manufactured in the Knight & Carver indoor 100,000 square foot bayside facility. “We would like to reverse the trend of companies like ours choosing to build overseas” said Jack McCoy, CEO of Arc Lite Power and EnergyTech Marine.  “We intend to add hundreds of new jobs for this enterprise right here in America, building everything from our half-million (mega) watt-hour Arc Lite lithium-ion propulsion batteries to our line of 83- foot EnergyTech full hybrid sailing yachts.” EnergyTech Marine designed and built the world’s first full-hybrid superyacht known as the 83 HD-X.  The 83-ft vessel launched at the Knight & Carver docks several years ago, and has since undergone sea trials, testing an array of hybrid systems on San Diego Bay.

 

Martin Turock, San Diego Clean Tech environmentalist and former GE international division manager, now COO of Arc Lite Power, explained, “We chose San Diego Bay in California not because of the ease of environmental compliance or the lowest taxes, but because of the amazing availability of workers accomplished in everything from master carpentry to aerospace electronics skills to build world-class luxury vessels along with our high-tech hybrid command and control systems.  The perfect synergy of this acquisition will enable both Arc Lite Power and Knight & Carver to immediately scale-up to fulfill the demand for hybrid propulsion systems in their combined customer pipelines.”

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Environmental

NOAA: US to See More Floods from Sea Level Rise

Most of U.S. coast may see 30 or more days a year of floods up to 2 feet above high tides. By 2050, a majority of U.S. coastal areas are likely to be threatened

Interview: Oil Spill Repsonse Insights from MSRC's Benze: Steven T. Benz, President and CEO, Marine Spill Response Corporation (MSRC)

As President and CEO of MSRC, Steve Benz presides over the largest oil spill response company in the United States (and worldwide). In that position since January 1996,

Optimarin ,Goltens Ink BWT Retrofit Agreement

Ballast Water Treatment (BWT) specialist Optimarin and Goltens, a provider of engineering and installation solutions for the shipping industry, have signed a nonexclusive

Fuels & Lubes

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

Wärtsilä to Begin Building LNG Terminal in January

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland.

Italian Shipbuilder Pleads Guilty to Environmental Crimes

An Italian shipping firm based in Genoa, Italy, pleaded guilty to violating the Act to Prevent Pollution from Ships by falsifying required ships’ documents to hide

Marine Power

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

Multraship Buys Three More Tugboats from Damen

Multraship and Damen Shipyards Group agreed on three new ASD (Azimuth Stern Drive) Tugs, all for delivery to Multraship in 2015. After delivery in Vietnam, scheduled

Waterjet-propelled Crewboat Delivered to Petrobras

BS Camburi, a 36-meter Monohull Crewboat built in Brazil by Arpoador Engenharia to the Petrobras type P2 specification has been launched and delivered.   Designed by Incat Crowther,

Mergers & Acquisitions

Teekay Tankers to Acquire 5 Tankers

Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million.

DP World: Shareholders Back EZW buy, London Delisting

Shareholders of DP World have approved buying Economic Zones World from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange,

Vard Wins Farstad's OSCV Contract

Vard Holdings Limited (“VARD”) has secured a contract for the design and construction of one Offshore Subsea Construction Vessel (“OSCV”) for Farstad Shipping (“Farstad”).

Wind Power

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

Nordic Yards Delivers 'Wind Server'

Nordic Yards officially handed over the offshore service vessel to the Danish company DBB Jack-Up Services A/S. During the handover ceremony, the ship was named ‘WIND SERVER’.

Dutch Container Terminal Signs on for Wind Power

APM Terminals Signs Contract for Wind-Power Generated Electricity for Maasvlakte II Terminal   APM Terminals has signed a two-year, €5 million ($6.23 million)

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1742 sec (6 req/sec)