French company to launch first electric boat motor this May

This May, French manufacturer FinX is planning to launch its first product – the Fin5, a new electric outboard boat motor which uses a flexible membrane based on fish fins instead of a propeller, according to company representatives. The development comes as the business is aiming to collect around €3m (US$3.6m) from investors to launch the motor’s serial production.

“The commercialisation of the Fin5 might begin this summer,” Alexandra Corsi-Chopin, a spokesperson for the French company. For the industrialisation phase, a new fundraising is to come, comprising Series A of €3m which will be launched this spring and closed in June/July, with our historical shareholders, Bpifrance and various business angels and venture capital firms.”

The Fin5 is a 5 CV boat motor the company describes as “100% electric, safe, and easy to maintain.” The manufacturer says it holds a portfolio of 14 international patents, and its solutions are based on some 15 years of research and development work. The 2kW motor uses a flexible membrane which allows to save 30% more energy than a traditional boat propeller. It can be fitted on small boats with weights of up to 3 tonnes, according to data released by FinX. The manufacturer says the FinX thruster does not comprise a crankshaft, a reduction gear, or a rotating joint. Only its membrane and magnets, which are in direct contact with the membrane, oscillate, according to FinX. Meanwhile, the French company is also planning to further expand its portfolio with new products.

“We will extend our range to higher powers with the upcoming design of a 100kW electric motor, equivalent to 150 CV thermal. We will also develop intermediate ranges and offer engines for other uses, such as diver thrusters or marine drones,” FinX said.

Source: IBI News