Leo Motors Inc Takes Lead in Green Marine Propulsion

By Joseph R. Fonseca
Wednesday, July 02, 2014
Leo Greentier Marines is the premier Korean E-outboard developer and manufacturer

 

Leo Motors Inc. (LEOM) has acquired by merger 100% of its affiliate company, Leo Greentier Marines (LGM) through a share exchange.

LGM is the premier Korean E-outboard developer and manufacturer. They bring LEOM an effective fossil fuel alternative to conventional boats dramatically reducing CO2 and a variety of other water pollutants.
 

Initially intended to support Korea's commercial fishing fleet, LGM developed a high quality performance electric power system for boats that will revolutionize the marine market sector. The motor is lower in noise, vibration, and fuel consumption. LGM's e-Power system also reduces maintenance costs.

The new e-boat gives fishermen significant reduction in energy costs. For each 100,000 km, traveled, an internal combustion engine $40,000 in fuel while the e-boat spends approx. $4,000, a 90% reduction in operating cost.

LGM has 7 patents and 15 patents pending. These patents include the remarkable Cartridge Battery Systems (CBS) technology.. CBS consists of 15-30 cartridges in a battery power pack. Such batteries are lightweight and can be recharged and replaced easily.
 

Maintenance costs are reduced by having only one tenth of the moving parts of standard motor boats. Lifespan of the outboard is doubled by the use of aluminum based corrosion resistant components.
 

Coping with the global trend toward Green Management, the International Maritime Organization (IMO) has imposed regulations to decrease carbon dioxide emissions from boats by more than 30 percent. The Korean government initiated a pilot project converting 40 fishing boats into e-boat in 2014.

Government subsidized approx. $30,000 per boat in this pilot project. Government expects to convert at least 10 percent of fishing boats below 3 tons over the next 10 years. (Converting approximately  5,500 boats.)
 

In addition to addressing the $2 billion Korean small e-fishing boat market, the merger stages LEOM to be the leading company in the $55 billion global ocean leisure market.
 
 


 

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

Marine Propulsion

Harnessing the Wind for Auxiliary Propulsion

Finnish marine engineering company Norsepower Oy Ltd. announced that it will bring to the commercial maritime market an auxiliary wind propulsion solution aimed

MAN Extends High Speed Power Range

MAN announced it will present a newly developed 12-cylinder V-engine for use in working vessels at the SMM 2014 trade fair in Hamburg, Germany. The German engine

Engine Performs in Roll Over Test

Engines customized for new Dutch search-and-rescue lifeboat vessels keep running after full rotation on axis. In thrashing, unforgiving seas, a capsized rescue vessel used to be a symbol of defeat.

Environmental

Hyde Marine Makes BWTS Installation Agreements

Hyde Marine, Inc., a wholly owned subsidiary of Calgon Carbon Corporation, says it has established two partnership agreements for installation of the chemical-free

BHP Billiton Pledges A$6 mi to Bush Blitz II Project

Alongside partners the Australian Government and Earthwatch, BHP Billiton Sustainable Communities today announced a A$6 million contribution to the second stage

Sunken WW II Ship Oil Leak Plugged

Atlantic Coast Marine Group, Inc. successfully responds to World War II era motor tanker leaking massive cargo of oil into the Atlantic Ocean's waters. Beaufort,

News

USCG Rescues Woman from Detroit River

The Coast Guard rescued a 30-year-old woman from the Detroit River late Sunday evening after she was reported to have fallen overboard when the vessel she was on was struck by another boat's wake.

Sanjam Gupta helps Launch WISTA in Sri Lanka

Within two years of the launch in India in 2012, the Women’s International Shipping and Trading Association (better known as WISTA), Ms. Sanjam  Sahi  Gupta,

General Dynamics Launches Morgan County NextGen-911

General Dynamics Information Technology, a business unit of General Dynamics, has implemented a NextGen-911 emergency service solution for Morgan County, Ohio.

Vessels

COSCO Corpn. Secures Contracts of $300 mi

COSCO Corporation (Singapore) Limited announced that shipyards, which are subsidiaries of the Company’s 51% owned subsidiary COSCO Shipyard Group Ltd, have secured

Kleven Shipbuilding Wins IES Pioneer Contract

Norway’s Kleven announced it has signed a shipbuilding contract with Malaysian based joint venture company IES Pioneer Ltd. The vessel is of Norwegian design

Eastern to Build Offshore Vessel for Harvey Gulf

Eastern Shipbuilding announced that on, Wednesday July 16, 2014, Harvey Gulf International Marine, Inc. (HGIM) and Eastern Shipbuilding Group, Inc. (ESG) entered

Mergers & Acquisitions

Sembawang Shipyard to Convert 2 FPSOs for Kaombo Project, Angola

Sembcorp Marine’s wholly-owned subsidiary Sembawang Shipyard has secured a Floating Storage Production Offloading (FPSO) conversion contract worth about S$600 million from Saipem SA,

ICBC Financial Leasing Purchase 2 CIMC Raffles Drilling Rigs

ICBC Financial Leasing Company Limited signed a leasing project with Schahin of two ultra-deepwater drilling rigs during China-Brazil Business Council-Annual Meeting 2014 on 17th July 2014.

Wärtsilä and CSSC in 2-stroke engine JV

Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed an agreement to establish a joint venture, which will take over Wärtsilä’s 2-stroke engine business.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Port Authority Salvage Ship Electronics Ship Repair 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: 0.1532 sec (7 req/sec)