Marine Electrification Companies Vita and Evoy Merge

July 8, 2024

Bernard d’Alessandri, General Secretary and Managing Director of the Yacht Club de Monaco (center), with Leif Stavøstrand, founder of Evoy (left) and Stewart Wilkinson, Founder of Vita (right) at the Yacht Club de Monaco. (Photo credit: @Francesco Ferri / Vita)

Electric marine technology companies Vita and Evoy announced they are merging to consolidate their positions in high-power electric marine propulsion in both commercial and recreational markets.

In coming together, the companies said they plan to leverage 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 U.K., Norway, France, Italy, Monaco and California.

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.

Vita Founder and Lead Investor, Stewart Wilkinson, said, “Our conversation started last year at the Yacht Club in Monaco, 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 decarbonization. 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 honored to play a part in it.”