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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.

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

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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