Electric cars will soon be the chosen type of transportation for much of the population as the internal combustion engine slowly fades away just like the horse and buggy did so many years ago. But what about electric boats?
Quad Marine has a concept boat that is a catamaran powered by solar. As Tesla rocked the automobile world, CEO and founder Steve Salani wants to do the same to the motor yacht community. As part of this vision, Quad Marine is crowdfunding on StartEngine seeking up to $1 million under Reg CF.
So what exactly is the Quad Marine concept?
Described as the culmination of a 10 year R&D effort, the 44 foot catamaran design is said to provide much larger accommodations space, a more comfortable passage in rough weather, improved performance while eliminating diesel reliability issues. All of this with two battery powered screws, a host of solar panels and plenty of cabin room.
So what are the shortcomings?
First of all, this is only a CAD designed concept and little beyond that. There is no prototype which to test the performance assumptions and like electric cars there will be challenges with range and, of course, running out of battery power mid-ocean. According to the campaign page the creators envision several options to mitigate these looming issues, like adding an optional sail or providing additional batteries to extend the range. As the design stands now, you are expected to get about 50 nautical miles of battery range so don’t expect to cross the Atlantic.
If you are interested in learning more about the offer you may view the campaign page here on StartEngine or read the Offering Circular here. If you decide to invest you are purchasing common equity at a valuation of $4 million for a company that most certainly will need additional funds at some point in the future. The minimum raise of $10,000 won’t get the project far at all. The million dollar max amount is predicted to be sufficient to assemble and test the first boat.
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