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General Motors has acquired a 25% stake in Pure Watercraft, a Seattle-based startup specializing in electric boats and outboard motors.

GM will provide Pure Watercraft with direct supply chain and manufacturing support and access to its parts catalog and electric vehicle components, as the company partners to build a line-up of all-electric marine products and applications. Specific product offerings from GM’s collaboration with Pure Watercraft will be disclosed at a later date.

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“For more than a decade, Pure Watercraft has positioned itself as a leader in sustainable electric marine propulsion technology,” a GM spokesperson said in a statement to Granthshala Business. “The collaboration between the two enterprises will advance the shared vision of a cleaner and more sustainable planet for future generations and reflects the holistic approach needed for widespread EV adoption.”

The deal is valued at $150 million, which includes paid-in-kind commitments and invested capital. However, the companies are not disclosing the distribution between cash and payment-in-kind at this time.

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Pure Watercraft, founded in 2011, has raised approximately $37.5 million in total Series A funding as of December 2020 and is valued at approximately $600 million.

The company’s Pure Outboard Motor system, which uses a lithium battery and starts at $16,500, provides clean, quiet propulsion that’s equivalent to a 50 horsepower gas or diesel outboard motor and requires zero maintenance, according to Is. Website,

The outboard motor can charge from half to full in 90 minutes at a 240-volt outlet, or in as quickly as five hours per pack at a 120-volt outlet. Pure Watercraft’s charger allows multiple batteries to be charged simultaneously. The company stresses that the Pure Outboard can support fishing trips of about four hours, 20 miles with a 15% charge.

CEO of Pure Watercraft, CEO of Pure Watercraft, said, “Many others are selling electric boat motors, but none have done as complete end-to-end development as we did. Most are system integrations, which are easy to develop, But misses out on the opportunity for game-changing efficiency gains.” Andy Rebelle told Granthshala Business. “Our system delivers more than twice the propulsion per pound of our best competitors.

Rebelle said deliveries of Pure Outboard will begin “imminently.”

In addition, Pure Watercraft has partnered with major boat manufacturers on electric boat packages, which range from as high as $16,500 to as high as $37,500 depending on the type of boat and the amount of battery packs included. Its offerings, which also require a $500 refundable deposit, include a pontoon barge, fishing boat, and two rigid inflatable boats.

GM CEO Mary Barra previously hinted LinkedIn post in October That the automaker’s Altium battery platform and Hydrotech fuel cell platform will give the company the ability to “build planes, trains, automobiles and even boats into zero-emissions products.”

GM, which is investing $35 billion in electric and autonomous vehicle technology by 2025, predicts that the transition to an all-electric future could double its annual revenue by 2030.

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According to National Marine Manufacturers AssociationOutboard engine retail sales grew for the ninth year in a row in 2020 to total 330,000 units, the highest annual sales volume in 20 years and an increase of 18% compared to 2019.

According to Rebelle, there are approximately 15.7 million powerboats in the US and 80 million powerboats worldwide.

“Covid has accelerated boating in a way we haven’t seen since World War II,” he said. “Almost all car companies are committed to going electric, and with 95% of boat fuel at automotive gas stations, you can see how boats would do that. It will become the default way to operate boats.”