Epropelled, a powertrain specialist that focuses on electric propulsion for marine vessels, has raised $15 million in Series A funding. The round was led by Lepe Partners, with participation from Cree, Invesco and Novocure. Epropelled will use the new capital to expand productioncapacity and broaden its customer base.
Epropelled’s technology is based on a brushless direct current (BLDC) motor, which the company says is more efficient than traditional propeller-driven propulsion systems. The motor is integrated into a flexible system that can be used on a variety of vessel types, from small personal craft to large commercial vessels.
Epropelled has been working with the U.S. Navy on electric propulsion technology for small vessels, and the company says its products have the potential to significantly reduce emissions and operating costs for the maritime industry.
“Epropelled’s BLDC electric propulsion systems offer a unique value proposition for the maritime industry with the potential to significantly reduce emissions and operating costs,” said Lepe Partners Managing Partner Pablo de Lira in a statement. “We are excited to lead this financing round and support the company as it commercializes its technology and expands into new markets.”