Epoch Boats
Everywhere you look in the automotive industry, you are seldom to find a car company to hold out from branding their own type of electric vehicle. Granted they do, since, if they did not participate in the recent EV trend, companies would risk falling out of favor to the eco-friendly consumer market.
There is no doubt, the electric revolution is here. But the memo has yet to fully make its way to the boating community. There is clearly a market for electric boats; the propulsion technology should be seamlessly adopted with alterations; and a world where we lessen our dependence on gas-powered engines would fare better for the health of our planet. The question is who will step up to bring an electric boat to market?
Enter Epoch Boats
Epoch Boats, pronounced /ee · pok/, is the climate-tech startup that is designing and manufacturing high performance electric boats for the retail consumer. Their climate-focused electric propulsion technology and innovative engineering in the hydrofoil hull system is designed to deliver a boating experience that is fast, efficient, and eco-friendly.
The Pennsylvania based startup is led by Tom Ward and Diane Seltzer, two marine-tech veterans with more than 20 years in the field. Most notably, they have worked as a team for the past 5 years in their previous venture, another marine startup that exited at a valuation of over $20 million. The pair’s passion and knowledge for the boating industry, understanding of the electric engine market trends, and experience in running a startup will signal to investors the company’s ability to produce a high quality product.
The combination of an electric battery and hydrofoil system
A patent pending hydrofoil system and electric battery will come to be what the boats are characterized for. Attached to a marine-grade aluminum hull that is durable and lightweight, the hydrofoil system will lift the boat at speed to reduce drag and achieve speeds of more than 30 MPH. The foils that raise the boat out of the water will also reduce the wake it leaves behind. Once the captain is ready to cruise at lower speeds, the foil mode can be deactivated and will retract for shallow waters or storage.
Allowing the boat to go faster with the hydrofoil system and lightweight of the aluminum significantly reduces the propulsion requirements on the motor. In fact, the multiple technologies enables the boat to travel 50% faster that will result in 75% less power expenditure needed.
Though the ingeniousness of the hydrofoil design lessens the burden on the motor to perform, this does not mean that Epoch’s boats will not be able to keep up with your traditional gas-powered hull. Instead, it allows for the doubly efficient electric motors to focus on light weight, low cost batteries and motors that extend range and are virtually silent. Really then, the consumer is getting a heightened performance and efficiency while saving on average $1,000 USD in fuel and maintenance costs over a year. Sounds like a classic win-win situation!
Epoch’s focus on an environmentally friendly boat
However, most importantly, the combination of novel technologies to the boat will have a drastically beneficial impact on our environment. In the increasingly dire age we live in now, more and more people are looking to lessen the harm they leave on the climate with the products they use. This sentiment does not exclude itself from maritime activities, and a fact the industry will consider in the coming years.
Epoch are setting their sights on proving that being green and building a quality boat are not mutually exclusive. Unfortunately, since the “catalytic converters found on modern automobiles don’t work in the marine environment, boat engines are legally allowed to emit about 150x more non-CO2 emissions than highway vehicles.” The electric motor, however, will cut emission 99% since remarkably less fuel will pollute local waters or be needed altogether. A quiet electric motor will contribute in helping noise pollution levels.
A model in the car industry
In envisioning the influence that Epoch will have on the boating industry, think of the impact that Tesla’s electric cars have had on the automotive world in the past decade. Epoch’s founders certainly see the future of boats being electric, and they seek to be the catalyst in revolutionizing your next summer time maritime excursion to be more environmentally safe. Look to the startup’s namesake as testimony to their vision – named after the word epoch, meaning “the beginning of a distinctive period in the history of something.”
The comparison to Tesla will seemingly go beyond the electric engine. In the details Epoch has given out, it looks as if they will emulate the model for the consumer experience with performance, efficiency, customization, and affordability in the product.
The debut, customizable Skiff Series
Epoch’s debut model, the Skiff Series, will be the first of its kind to feature the foil system and be available for purchase in the 14, 16, and 18 feet sizes. With the beam length at deck running from 74-84 inches, the total weight of the Skiff including the engine and battery will be between 475-775 lbs. depending on the size. The passenger capacity is 2-5 people, making a max weight the vessel can hold to be 700 lbs.
Staying true to the consumer being used to optionality, you will be able to customize your Skiff Series aesthetic. Along with its trademark features and standard components, the choice of 8 colors will be available. After your default model, there are additional available options that can be added such as an extended range battery pack or a shallow water anchor.
An affordable and entry-level high performance rig
The startup has focused much of their resources on efficient engineering before releasing a model to the market. In the midst of raising capital for the seed stage, their next priority will be to build a sleek design and easy user experience in order to make their boat accessible to the entry-level consumer.
Epoch’s dedication to providing a boat that can be used by the larger public is also reflected in its price. Compared to the vessels of its kind currently on the market, the starting MSRP of the Skiff Series when launched will be an affordable $35,000.
While there are boats of its size that start at price of $20,000, a speed boat of the Skiff Series’ performance will cost significantly more. Those that compete in speed and efficiency will retail at prices above $100,000.
Though the initial target market is the general consumer, co-founder Tom Ward has made it clear that the technology will be able to scale to larger boats.
Forecasting the future of the electric revolution
The world is at an inflection point with how propulsion is powered, and it certainly seems to be an exciting time to go electric. The growing science moving electric propulsion technology forward is making for a consumer base that is increasingly interested in going green to save their planet and their pockets.
President Biden’s recent announcement of over $900 million in federal funding to build EV charging stations solidifies the government’s push to incentivize electric vehicles. More legislation is expected to come with environmental regulations and climate friendly technology subsidies.
Epoch Boats is positioned well to help transform the boating industry towards electrification. The potential the company has to disrupt the way boating is done, they are likely to be key players in a large and growing market. The leisurely boating industry in the U.S. was valued at $11 billion and $42 billion globally. With disposable income increasing among more people, the entire market looks primed for healthy growth of about 4% over the next decade.
Epoch’s competitive advantage
Epoch Boats look to follow in the footsteps of Tesla to solve ecological issues plaguing boating motors while also advancing the performance. Their boats will be sought after by both experienced boaters who want increased capability and the general public who are looking for an affordable entry-level boat. They present a clear competitive advantage over existing boats with higher efficiency and lower recurring operating costs.
The debut Skiff Series is expected to come to market 6-12 months after their next investment raise, but the startup already has large traction of consumer interest through their waitlist for the boat.