Clean Energy | November 29, 2021

Arc secures $30 million to electrify boats

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 29 — Watercraft in the U.S. are responsible for over 40 million metric tons of carbon per year. L.A.-based Arc aims to electrify the whole fleet, starting with watersport boats.

Arc One, a 24-foot aluminium boat, can run for up to five hours and carry 10 people – for $300,000.

Arc’s Series A round was led by Eclipse Ventures’ Greg Reichow, a former Tesla executive who will join the company’s board. Other investors include Andreessen Horowitz, Lowercarbon Capital and Abstract Ventures.

EV race

General Motors is looking to become the No. 1 U.S. EV maker (for context, see “The EV race is on as GM and Ford move to overtake Tesla). The company acquired a 25% stake in Pure Watercraft, a Seattle-based company that makes electric boat engines.