Arc Lite Power LLC, a San Diego-based marine hybrid systems company, signed an agreement to purchase National City, Calif., shipyard Knight & Carver Maritime, the companies announced.
The $30 million investment will expand the capabilities of the combined companies to serve the emerging “green marine” market.
Knight & Carver, a provider of marine construction and maintenance services, will continue its traditional offerings and add the operations of a hybrid superyacht conversion and certification center. An interim operating agreement will allow combined operations to begin immediately, the companies said.
“The future has arrived for hybrid marine power,” Knight & Carver chairman Sampson Brown said in a statement. “We have reached the point where ‘going green’ isn’t simply a fad. It’s now a certifiably smarter, more efficient and more cost-effective way to operate a vessel.”
Arc Lite Power and its affiliated company, EnergyTech Marine, have captured a leading position in hybrid marine propulsion with the power core system, which obsoletes and replaces the standard marine diesel engines, generator sets and lead-acid battery banks found in the vast majority of vessels, according to the statement.
Arc Lite’s systems will be made in Knight & Carver’s 100,000-square-foot indoor bayside facility.
“We would like to reverse the trend of companies like ours choosing to build overseas,” Jack McCoy, chief executive of Arc Lite Power and EnergyTech Marine, said in a statement. “We intend to add hundreds of new jobs for this enterprise right here in America, building everything from our half-million [mega] watt-hour Arc Lite lithium-ion propulsion batteries to our line of 83-foot EnergyTech full hybrid sailing yachts.”