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X Shore Secures $17M in Funding

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1_XShore

Sweden-based X Shore announced that it secured $17 million in funding for its Eelex 8000, a 26-foot electric boat that the company says addresses obstacles — such as range and charging — to the widespread adoption of e-power on the water.

X Shore said the Eelex 8000 has a reported range of 100 nautical miles at 6 to 8 knots, or 20 hours of run time between charges. The boat has a top end of 35 knots.

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“This funding affords X Shore the ability to take U.S. boating electric, something that very few in the industry have been able to do on a large scale,” CEO Jenny Keisu said in a statement. “With interests in sustainability and e-mobility increasing in the United States and worldwide, these investments will allow us to scale our production to keep up with the demand and drive change in the marine industry.”

The funding was led by tech holding and clean energy company Team Europe; additional investors include Navin Thurkkaram, founder and CEO of Innovation Bootcamp, and Marec Gasiun, Google’s head of automotive business.

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“X Shore is a perfect partner for our multimodal electromobility approach,” said Team Europe CEO Lukasz Gadowski.

X Shore said it plans to open a second manufacturing facility in Sweden and might open a U.S. plant next year.

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