$1.5m for Naut to develop electric boat engines
Northland firm Naut has secured $1.5 million in funding to expand its electric boat business.
The money from Hillfarrance Venture Capital will enable Naut to develop its electric propulsion products for the marine industry, the New Zealand Herald reports.
Naut has partnerships with the likes of Ngai Tahu Tourism, which includes Shotover Jet, to do a feasibility study for an electric jet boat fleet.
In 2022 Naut launched a second demonstrator electric-powered boat called the Beachcomber.
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