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

Total Cost €


EC-Contrib. €






 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.

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

Project "MarketStudy-OV" data sheet

The following table provides information about the project.


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
 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


Take a look of project's partnership.

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


 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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