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MarketStudy-OV

Market Research for Oceanvolt zero-carbon emission marine electric propulsion system

Total Cost €

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EC-Contrib. €

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Partnership

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 MarketStudy-OV project word cloud

Explore the words cloud of the MarketStudy-OV project. It provides you a very rough idea of what is the project "MarketStudy-OV" about.

reduce    solutions    months    decreasing    medium    60m    2020    submersibles    small    electrical    last    transformation    market    lower    motors    12    services    boats    successfully    phases    leader    passenger    ownership    monitoring    workboats    26    revenue    rationale    yearly    greenhouse    marine    employ    tons    efficiency    oceanvolt    emissions    which    transportation    200    sme    propulsion    electric    licensing    18    lightweight    24    regulatory    operate    boosting    found    company    countries    start    co2    six    engines    million    maintenance    outcome    effect    607    globally    patented    diesel    hundred    replace    annual    landscape    sailboats    environmental    plan    suitable    sales    undisputed    minor    conduct    modifications    alone    markets    475    comprise    competiveness    total    expenses    with    approximately    freedom    remote    free    cagr    businesses    delivered    feasibility    hybrid   

Project "MarketStudy-OV" data sheet

The following table provides information about the project.

Coordinator
OCEANVOLT OY 

Organization address
address: VETOKUJA 1
city: VANTAA
postcode: 1610
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Finland [FI]
 Project website http://oceanvolt.com/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3.4. (SOCIETAL CHALLENGES - Smart, Green And Integrated Transport)
2. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
3. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2016
 Duration (year-month-day) from 2016-11-01   to  2017-04-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    OCEANVOLT OY FI (VANTAA) coordinator 50˙000.00

Map

 Project objective

Oceanvolt has been growing with a CAGR of 475% during the last six years, the company aims to 60M€ annual revenue and to employ several hundred by the 2020. Oceanvolt’s products comprise a range patented marine electric motors, 24/7 remote management and monitoring services and hybrid propulsion solutions. These have already been successfully delivered to about 200 sailboats in 26 countries globally making it the undisputed market leader.

There are approximately 1.5 million boats with small and medium diesel engines. Oceanvolt can replace the engines with electric propulsion technology that is free of greenhouse emissions, lightweight, reliable and maintenance free. A key rationale for businesses is the lower the Total Cost of Ownership of boats with electric propulsion due to decreasing maintenance expenses, higher efficiency of electrical engines, thus directly affecting the cost of transportation and boosting competiveness. The environmental effect of this transformation is significant as it would reduce yearly CO2 emissions up to 607 000 tons in early phases alone.

The objective of the SME Phase 1 project is to conduct a feasibility study to investigate further suitable markets for Oceanvolt electric propulsion technology beyond the current market in sailboats. New significant market potential could be found in small passenger boats, workboats and submersibles. Also there could be potential for licensing Oceanvolt’s technology.

The aim of the SME Phase 1 is to find 2-3 markets which have significant growth potential and which could be addressed directly with existing products or with minor modifications. The outcome includes a specific go-to-market plan, legal and regulatory landscape and freedom-to-operate analysis. The target is to have sales in the new markets in 12-18 months from the start of SME Phase 1.

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The information about "MARKETSTUDY-OV" are provided by the European Opendata Portal: CORDIS opendata.

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