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Genevo Marine, an Electric Vehicle Startup, is Poised to Construct Australia’s Inaugural High-performance Electric Boat

Entrepreneurs Damon Rahmate and Andrew Davey, known for their work in the renewable energy and solar industry, are expanding their eco-conscious efforts to the maritime sector. Their new venture, Genevo Marine, aims to pioneer electric boat manufacturing in Australia by introducing the country’s first high-performance electric motor yacht.

Collaborating with Gold Coast-based Mahi Boats, led by Dan Williams, Genevo Marine is set to unveil its inaugural model, the E8, an 8.2-meter luxury motor yacht. This partnership combines Rahmate and Davey’s expertise in renewable energy with Mahi Boats’ proficiency in custom boatbuilding and composite materials.

In addition to revolutionizing Australia’s boating industry, Genevo Marine is committed to sustainability. The company is developing a proprietary recycled composite in collaboration with Deakin University, Melbourne, to minimize environmental impact. This innovative approach is expected to significantly reduce the carbon footprint of boat manufacturing.

Rahmate emphasizes the company’s dedication to environmental conservation and the long-term health of marine ecosystems. With a focus on both domestic and international markets, Genevo Marine aims to align with evolving sustainability regulations, particularly in Europe.

Both Rahmate and Davey bring extensive experience in boating and renewable energy to the table. Rahmate’s background includes familial ties to boatbuilding, while Davey transitioned from boatbuilding to solar energy.

Currently, Genevo Marine is seeking seed investments to accelerate the development of its prototype, with plans for completion by year-end. The company anticipates market availability of the E8 by mid-next year, offering a competitive pricing model comparable to conventional petrol sports boats.

Designed by renowned superyacht designer Misha Merzliakov, the E8 boasts meticulous engineering for optimal performance and range. With a 400kW electric drive train and a 132kWh lithium-ion battery, it promises high speed and minimal maintenance costs.

Genevo Marine’s vision extends beyond boat manufacturing, with plans for a fast-charging network to support electric vessels. Rahmate emphasizes the importance of owning and servicing this network to ensure efficiency and minimize downtime.