Electric motor manufacturer launches crowdfunding campaign

Finnish electric motor manufacturer Oceanvolt is launching a crowdfunding campaign in which participants receive equity through the online investor platform Invesdor. The company is offering its shares at a minimum investment of six shares, at a share price of €88.12 per share. It hopes to raise €0.6m-€2M in exchange for equity between 8.45% and 23.52%.

Oceanvolt is a leading manufacturer of clean electric power and propulsion systems for boats. The company makes electric drives for sailboats, motorboats, harbour ferries and other commercial vessels, as well as an interface that can connect any Oceanvolt system to the internet and be monitored and managed in real-time.

Proceeds of the funding round will be used to further develop software and to extend the hydrogeneration feature to cover all systems. The campaign, which started on May 28, is already well past the minimum €600,000 at more than €800,000. It ends on June 27, 2019.

Oceanvolt has picked up several awards since Janne Kjellman founded the company in 2004, including a 2013 Pittman Innovation Award for its SD Saildrive and a 2017 DAME Award for its patented variable pitch Servoprop.

Oceanvolt also supplied the electric propulsion system for Conrad Colman’s IMOCA 60 for his 2016 Vendee Globe challenge and is now working with Alex Thomson Racing to equip his Hugo Boss race boat for the 2020 Vendee Globe round-the-world race.