BlueNav is a leading innovator providing alternative propulsion solutions to the maritime industry. The company has accomplished remarkable growth by recognising that the journey towards a sustainable boating future is long and challenging. They have established various solutions to help ease the transition.
Creating a better future
‘Electrification’ is a popular buzzword, but this energy transition comes with its challenges – not all boats can continue down the path of all-electric propulsion easily, and some consumers are not ready to move towards fully electric alternatives. BlueNav understands this and has created viable hybridisation solutions to facilitate and drive positive change.
The products can not only be integrated into new builds but are also perfect for retrofitting – simultaneously helping work towards the issue of reducing the existing fleet’s emissions.
Products to bridge the gap
BlueNav offers an efficient and sustainable solution, allowing boat owners to easily convert their vessels into hybrids. This approach eliminates the complexities associated with retrofitting boats initially equipped with internal combustion engines.
The technology, known as BlueSpin, introduces a robust electric motor that seamlessly complements conventional combustion engines, making it suitable for a wide range of medium-sized boats spanning 8 to 15 meters long. This innovative system offers three integration options: It can be installed directly into the boat’s hull or easily mounted under the hull or attached to the boat’s transom, providing flexibility and simple installation options.
By integrating BlueNav electric motorisation systems, users can enjoy the combined benefits of traditional combustion engines and electric propulsion. With a simple press of a button, they can switch between the two propulsion options, optimising their boating experience. This innovation enhances versatility and convenience, making it a user-friendly solution for boat enthusiasts.
Over the past year, the company has experienced exceptional growth, solidifying its position being a key driver of positive change within the industry through its cutting-edge solutions.
Aside from revenue, they have also grown their team of experts in marine technologies. They aim to experience a 110% growth in staff by the end of 2023 to meet the company’s increasing production targets for 2024. Boasting a background in engineering and sailing, BlueNav’s team is passionate and determined to continue facilitating a new era of environmental responsibility.
Various funding rounds and strategic investments injected into the company have further enhanced this growth trajectory and success. They have attracted significant attention from investors recognising the potential need for these alternative products.
The previous funding round in August 2022 resulted in their €1.3 million seed round, led by the Blue Ocean Fund of SWEN Capital Partners – which invests directly in unlisted, innovative start-ups working to support Ocean health regeneration. The seed round provided financial resources for their growth to fuel enhanced product development and validate their vision to ease this vital transition. They are currently looking to close an additional growth round by Q3 this year.
The growth in revenue and funding has, in turn, enabled esteemed partnerships to develop between BlueNav and industry stakeholders, manufacturers, and distributors. They have collaborated with a range of renowned boatbuilders with examples such as Dubourdieu, JPK, Narwhal Inflatable Craft, Catmarina, Millikan Boats and Ocean Voyager.
In addition to manufacturers, BlueNav has forged partnerships with distributors across multiple regions. Their alliance with Exalto Emirates has given them a significant presence in the UAE, Jordan, The Maldives and Saudi Arabia. This network extension has provided BlueNav access to new markets and clientele in the Middle East – a region currently experiencing a substantial growing demand within the maritime industry. Their collaboration with AS Labruna has also facilitated their entry into the Italian market.
BlueNav has built a robust integration network for a seamless distribution and sales process with 28 resellers across Central Europe. This network has played a crucial role for them to reach an increased customer base.
This vast range of strategic alliances has bolstered their growth by helping them strengthen their market presence in both established and new markets and enabling them to leverage increased expertise and knowledge.
Aside from partnerships, BlueNav is attending various upcoming exhibitions and shows throughout the boat show season to showcase its latest innovations and product launches: Cannes Yachting Festival in September, IBEX in October, Metstrade in November and Boot Dusseldorf in January 2024.
“Our international expansion is fueled by a deep passion for creating a positive impact on the boating industry and the environment. We firmly believe in the potential of electric propulsion technology to revolutionise how boats operate and are committed to making it the new standard in the marine world. We aim to be a catalyst for meaningful change and progress. As we expand globally, we are excited to collaborate with like-minded partners and engage with industry stakeholders who share our vision and values. Together, we can showcase alternative propulsion systems’ incredible benefits and possibilities, including the enhanced efficiency, lower emissions, and improved performance they bring to boats. We take pride in being at the forefront of innovation and sustainable solutions. By leading by example and spreading awareness about the advantages of hybrid electric propulsion, we hope to inspire a positive shift in the global boating industry, promoting a more eco-friendly and responsible approach to enjoying our waterways.” – Mathilde Gombeaud, managing director of BlueNav
A promising future
The company has experienced significant growth through a combination of funding and investment, huge team growth and an ever-increasing global network.
BlueNav envisions extensive potential not only for hybrid/electric boats but also for innovative functionalities that will form part of the “smart boating experience”, thanks to artificial intelligence and machine learning. To achieve this, BlueNav has initiated a multi-year development program in collaboration with various international partners, universities, and research centres.
Future plans will focus on the upgraded software, combining advanced data integration and user-friendly interfaces, to support their expanding product range and launch an app to complete their hardware and software integration.