February 10, 2023
A year ago, we attended the Miami International Boat Show largely to scope the scene, better understand the show layout and exhibitors, and to really get a sense of what was happening within the electric boating and next gen technology sector. It was an intoxicating environment, and we were energized by the recent partnership and funding support from our lead climate tech investor, Third Sphere, that we had just closed.
We had spent months in customer R&D and investor conversations, and we were convinced of the growing need for intelligent, high-powered outboard electric motor systems. The tourism, transportation, and mariculture sectors continued to emerge and present themselves as natural and ideal use cases.
It’s hard to believe that next week, just a year later, we’ll return to Miami with a working product (our P300 prototype) for sea trials at the marina and a strong Photon booth presence in the convention center. What a year it’s been!
We’re excited about the customers, investors and partners who will join us to experience the technology on the water firsthand. The marine sector clearly lags behind land EV adoption; however, that is shifting. Skyrocketing gas prices, fatigue and frustration with existing gas-powered motor maintenance - and an increased understanding and acceptance of the climate crisis - is shifting hearts and minds to consider the transition.
For commercial customers, the math pencils out fairly quickly (most of our customers will recoup their investments within one to three years). The total cost of ownership for electric motors is significantly lower through the life of the motor.
We’re committed to leading the commercial marine sector to healthier alternatives, and we’d love for you to join us. Come see us in Miami or sign up for our newsletter on the website. We’re grateful for your support of the Photon journey!