Nordic startup launches new electric boat company

Frydenbø Marine and SES-X Marine Technologies have jointly established a new electric leisure boat company, which the firms say has “global ambitions”.

Frydenbø Marine is one of the largest boat producers in the Nordics with its own factory in Poland, covering brands such as Nordkapp, Sting, and Airborne boats, in addition to being a distributor for Zodiac.

Norway-based SES-X Marine Technologies is a fast-growing marine technology startup delivering energy-efficient technology for boats. As of 13 January 2023, Frydenbø Marine and SES-X have entered into an agreement to launch a new company that will design and build next-generation long-range electric boats for the recreational market.

Knut Herman Gjøvaag, owner of Frydenbø Group, says: “Sustainability is a core strategic priority for Frydenbø, and we are pleased to announce this new company as it will help us offer products that contribute to a sustainable future whilst simultaneously position us for the future of boating.”

One of the main challenges for electric transportation (on land, water or air) is to achieve long enough range. Planing boats are particularly prone to this challenge, as water provides high resistance when moving through at speed. And as battery-electric boats are heavier than fossil-fuelled boats, they need even more energy to go at high speeds. That is the core problem that SES-X says it solves with its unique hull technology that “greatly increases” energy efficiency, and enables long-range electric boats.

Glen Ole Rødland, chairman of the board at SES-X, comments: “SES-X is developing cutting-edge marine technology that we are certain is part of the future of electric boating. We are very excited about the new company as it marks a major milestone in SES-X’s quest to accelerate the transition to zero-emission boating. We could not have found a better partner in Frydenbø, and by combining SES-X’s technology expertise and Frydenbø’s market knowledge and market position, this collaboration creates the best starting point for successful growth.”

The new company will focus on production of high-quality crafted boats that integrates SES-X’s systems and technology.

Arve Fresvik, the chairman of the board, says: “Frydenbø is a market leader within the recreational boating market in the Nordics. Combining their experience with SES-X’s patented hull technology, we will be able to produce boats with significant performance benefits. We look forward to working together to unlock the potential of combining these businesses. The timing could not be better for both parties as we envision great opportunities in a growing market for electric boating.”

The structure for the company is established, and the focus is now on finding the right CEO to complement the existing management. The company is also considering the possibility of partnering up with a selected group of external investors during spring 2023. More information about the company and the product will be revealed in subsequent market launches later in 2023.