Temo to expand in US after raising €6m to develop electric engines

French electric propulsion specialist Temo has completed a €6m Series A financing round, expanding across Europe and confirming its intention to enter the American market.

The round was completed with the US impact fund At One Ventures, the Ecotechnologies 2 fund, managed on behalf of the French government by Bpifrance as part of the France 2030 programme, and business angels.

Temo, based in Brittany, France, was founded in 2018 by Alexandre Seux and Justine Perussel. It designs and markets electric motors for inboard and outboard boats.

Thanks to this first round of Series A funding, the company says it will now accelerate the development of its range. The company’s ambition is to add three new power units to its catalogue by 2027.

The funds raised will also enable the motor manufacturer to step up its international presence, particularly in the United States. Temo says the arrival of the American company At One bears witness to a strong desire for it to establish itself in the US.

“The combination of At One Ventures and Bpifrance makes an excellent investment team for Temo,” says Alexandre Seux. “They will help us grow our business internationally and continue to our vision for a carbon-free recreational boating sector.

“With the Series A funds, we will accelerate our product roadmap and distribution, including in North America.”

Temo motors continue to be manufactured very locally in France’s Pays de la Loire region. To support its growth, Temo says it plans to recruit 100 employees over the coming five years.

In August 2023, Temo launched its latest electric outboard in the UK, the Temo 1000 (pictured top). The ‘ultra-ergonomic’ Temo 1000 is a bigger, more powerful version of the Temo 450, which was a DAME innovation award-winner in 2020.

Temo’s Europe expansion

Last week, Temo also confirmed it is expanding in Europe and South America by appointing three exclusive partners in Italy, Denmark and Brazil.

In Europe, the firm has partnered with Battagli Marine Hardware in Italy and E-boating in Denmark.

Battagli Marine Hardware is located in the La Spezia region, at one of the largest marinas on Italy’s west coast.

“We are delighted to support and represent the Temo brand, whose first 450W motor has proved to be a truly innovative, unique product of excellent quality,” says co-owner Giovanni Battagli. “It’s a product that’s right up with the times for the Italian market, which is increasingly looking to this type of powertrain.”

In Denmark, E-boating, led by CEO Gert Larsen, is known for its expertise in electric motors. The company also acts as an after-sales service centre and is now looking to expand and become the country’s specialist in electric powertrains, offering a first-class service to yachtsmen.

“Temo was created by passionate sailors dedicated to the world of sailing and the seafaring lifestyle,” says Larsen. “Their vision is to promote the pleasure of sailing by creating innovative and sustainable solutions that remove limits and respect our fragile marine ecosystem. That’s why we’re delighted to be starting a collaboration with them.”

Temo is also gaining its first foothold in South America thanks to a new Brazilian distributor, the I-sea Group. I-Sea already offers several European brands, including Cristec, a French specialist in energy conversion for on-board applications.

I-Sea was present at the São Paulo Boat Show in September 2023 with a Temo 450 motor on display, and it proved a big hit with boaters.

“Temo is a revolutionary new product compared to the traditional products available here,” says Fabio Guidon, I-Sea Group’s sales director. “Instead of the traditional design, the engine appears particularly ergonomic and easy to transport. What’s exciting for us is that people are surprised when they see it for the first time.”