We are thrilled to announce that Naut has secured significant funding of $500,000 in the eighth round of the esteemed Low Emission Transport Fund. Administered by the Energy Efficiency and Conservation Authority (EECA) on behalf of the Government, this grant recognizes Naut's dedication to revolutionizing the way we approach transport and reducing the marine industry’scarbon footprint through the electrification of marine transportation.
EECA (Energy Efficiency and Conservation Authority) announced this morning the latest recipients of co-funding through the prestigious Low Emission Transport Fund (LETF), and we are thrilled to announce that Naut has successfully secured $500,000 worth of funding.
Naut, a pioneering electric propulsion technology company, plans to leverage this funding to demonstrate a 150 HP electric outboard propulsion system on a 7m vessel, that enables the propulsions system to be mass manufactured. Through this groundbreaking project, Naut aims to continue in its journey to showcase the tremendous potential of sustainable transport solutions and drive the transition towards a greener and more eco-friendly future.
The Low Emission Transport Fund reflects the New Zealand government's unwavering commitment to encouraging greener and more sustainable forms of transportation. By endorsing and investing in innovative businesses like Naut, who are bravely challenging the status quo, the government is paving the way for a cleaner and more sustainable future.
This significant injection of funding will undoubtedly propel Naut to establish its position as a leading player in the marine electrical market. Naut is dedicated to innovation and a vision for a sustainable future, Naut is poised to revolutionize the maritime industry and make a lasting impact on how we navigate our waters.
Expressing her gratitude, Naut's CEO Fiona Bycroft stated
"Naut is thrilled to be supported and acknowledged by EECA in this way and we look forward to shaping the future of marine propulsion in NZ and globally"
These words reflect the excitement and determination of the Naut team as they embark on this transformative journey towards sustainable maritime transport.
The co-funding from the Low Emission Transport Fund is a testament to the remarkable work being done by Naut and other forward-thinking companies striving to shape a sustainably focused future. We commend the vision and dedication of the New Zealand government in supporting ventures that challenge norms and lead the way towards a low-emission future.
About Naut
Naut is a leading electric propulsion technology company from Northland, New Zealand.
We design and make electric motors for the marine industry using our unique proprietary battery system, our talented engineers have years of experience innovating in electric propulsion around the world.
We believe that propulsion should be done radically better and we want to make electric transport the norm. Naut is a company of boat-loving challengers and innovators. We are driven by our pursuit of excellence and our commitment to leave clean air and water behind us as we go.
For media inquiries or more information, please contact:
Fiona Bycroft