Zen Yachts Receives $5.8 Million Funding for ZEN50 Solar Electric Catamaran Production

Inno Flores, Tech Times 01 March 2023, 10:03 pm

Zen Yachts has announced the closing of a Series A funding round, costing 5.5 million euros or $5.86 million. Ocean Zero sponsored this entirely to fund the continuation of production for ZEN50.

(Photo : JAIME REINA/AFP via Getty Images)
This photograph taken on October 20, 2021 shows the Cayman Islands flagged yacht "Zen" moored in the Bay of Santa Ponsa, on the island of Mallorca. - According to several medias, founder of Alibaba Group Jack Ma is spending time in Spain on the luxury yacht "Zen". Ma's presence in Spain -- for a "study tour of the agricultural industry and technology related to the environment" -- was reported by the South China Morning Post, which is owned by Alibaba.

Series A Funding Round

As preorders have now been secured, Zen Yachts went to a closing of a Series A funding round. According to Electrek's report, Ocean Zero LLC will be funding $5.86 million to continue production of the first batch of its ZEN50 Solar Electric Catamaran.

Ocean Zero typically invests in startup companies that work to decarbonize transportation across the world's oceans, rivers, and seas. Operating Partner Stephen Petranek stated, "Decarbonizing sea transport and recreational boating no longer requires a leap in imaginative engineering and science. It's possible right now and time is running out."

Boats produce more atmospheric CO2 each year than all the airlines in the world. While this became a massive problem, Petranek added that this has solutions that can be adopted immediately. Zen Yachts is one of the solutions, as the innovative company leads us into boat electrification.

Also Read: Silent Yachts Hits the Sea with its SILENT 60 Solar Powered Bluewater Catamaran

Zen Yachts also shared during the announcement that they have received three additional pre-orders, which makes it four solar electric catamaran reservations in total. The company invested in a series of production molds but experienced a carbon hull production delay.

Due to this, deliveries of hulls 1 and 2 are now expected to arrive in the first and second quarters of 2024 respectively.

Meanwhile, Zen Yachts is intending to debut officially at the International Multihull Show at La Grande Motte in France in April this year. From June 8 to 9, Zen planned will conduct its inaugural Community Days in Barcelona.

ZEN50

ZEN50 will help increase the popularity of zero-emission yachts and maximize their eco-friendly performance. Motor Boat reported that the company combined both wind sailing and electric propulsion with these yachts.

This is entirely self-sufficient without the use of a generator or a single drop of fossil fuel as even the tender is powered by a battery and charged by its mothership. The yacht gets its own energy from the sun and winds, making it the first truly zero-emissions 50 ft. production.

The 12-passenger yacht has two times 50kW brushless DC motors that are powered by a 160 kWh lithium iron phosphate battery pack. The main pack is supported entirely by solar panels and offers a peak power of 16 kW. This allows ZEN50 to cruise 4.5-5 knots through the sun's power alone.

The yacht designer Julien Melot prefers to describe the ZEN50 as a range speed extender, as it features ay sailing references. To him, resorting to a generator for yachts is a bit of a cop-out, especially since it requires you to carry and burn substantial quantities of fossil fuel in low conditions.