Please select your home edition
Edition
RS Sailing 2021 - LEADERBOARD

TEMO raises €6 million to develop its range of electric propulsion solutions

by Temo 18 Jan 23:09 PST
TEMO raises €6 million to develop its range of electric propulsion solutions © TEMO France

TEMO, the French specialist in electric motors for boats, has completed a €6 million Series A financing round with the US impact fund At One Ventures, the Ecotechnologies 2 fund, managed on behalf of the French government by Bpifrance as part of the France 2030 programme, and business angels.

Acting on the change of scale

TEMO, based in Vannes, in Brittany, France, and founded in 2018 by Alexandre Seux and Justine Perussel designs and markets electric motors for inboard and outboard boats.

In 2020, the company launched its first patented product onto the market, the TEMO 450, achieving sales of over 5,000 units across 15 countries. Renowned for its light weight and innovative ergonomic design, the TEMO 450 has won numerous awards and accolades from the marine industry. Building on this success, TEMO launched its second product in 2023, the TEMO 1000, which has generated impressive pre-sales orders.

Thanks to this first round of Series A funding, the company will be able to accelerate the development of its range. The company's ambition is to add three new power units to its catalogue by 2027, so that the entire fleet of small sailing yachts and recreational craft can be powered electrically. TEMO's cutting-edge technology enables boaters to enjoy clean, quiet, smooth sailing, while complying with current and future regulations.

Looking ahead internationally

The funds raised will also enable the motor manufacturer to step up its international presence, particularly in the United States. The arrival of the American company At One bears witness to a strong desire for TEMO to establish itself on the other side of the Atlantic.

Alexandre SEUX, CEO of TEMO, is delighted to join forces with investors with a global impact to begin this new The combination of At One Ventures and Bpifrance makes an excellent investment team for TEMO. They will help us grow our business internationally and continue to our vision for a carbon-free recreational boating sector. With the Series A funds, we will accelerate our product roadmap and distribution, including in North America."

TEMO motors continue to be manufactured very locally in France's Pays de la Loire region, and almost 70% of the components used in the motors come from national suppliers.

To support its growth, TEMO plans to recruit 100 employees over the coming five years.

Making a positive impact on tomorrow's boating

TEMO, At One and Bpifrance share a strong CSR policy in which decarbonisation and the reduction of harm to the marine environment are key priorities.

Laurie MENOUD, co-founder of leading investor At One Ventures, is convinced that TEMO's electric motors will have a significant positive impact on the boating industry and that they will drive a global At One is convinced of the benefits of electric power for boating and we are delighted to support TEMO in accelerating this transition and helping to protect the oceans. We were very impressed by TEMO's innovations and the dynamism of its team."

Alexandre WAGNER, Investment Director of the Ecotechnologies 2 fund managed on behalf of the French government as part of France 2030 initiatives is delighted to support a solution to enable carbon-free TEMO motors seemed to us to be a highly appropriate solution for meeting the growing challenge of zero direct emissions in the boating sector. The company's products stand out from the competition thanks to their low weight, ergonomic design and innovative use."

Blueprint Partners, a firm specialising in fundraising, and law firms Goodwin Procter, Chammas & Marcheteau, and Oratio avocats supported TEMO in this round of financing.

Related Articles

24/7 On-Water TowBoatUS at Tenkiller Ferry Lake
The boating community welcomes the new service Just three years ago Steven Rhoades, a U.S. Marine Corps veteran and former real estate agent with an admitted "boating affliction" became the owner of his first TowBoatUS location on Grand Lake. He followed up in 2022 opening TowBoatUS Fort Gibson Lake. Posted on 22 Jun
NMMA Canada receives Federal Funding
To support export opportunities for manufacturers To help bolster Canada's recreational boating industry, specifically in the global marketplace, NMMA Canada announced it was approved for $140,084 in funding from Global Affairs Canada through its CanExport Associations program for the 2024-25 term. Posted on 21 Jun
Vision Marine Technologies partners with JetRide
This alliance marks Vision Marine's expansion in the burgeoning electric boat rental market Vision Marine Technologies, Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"),a pioneer in electric marine propulsion, is thrilled to announce its partnership with JetRide Holding, LLC, a Florida members-only boat club. Posted on 21 Jun
Horizon Yacht USA West Coast Office Grand Opening
Located in Seattle, Washington in the Salmon Bay Yachting Center Horizon Yacht USA is excited to announce the grand opening of the new West Coast Office located in Seattle, Washington in the Salmon Bay Yachting Center. Posted on 20 Jun
America's Boating Club offer on-the-water training
Recent recreational boating statistics reveal boating education is vital to preventing accidents America's Boating Club announced today that as revealed in the recently released U.S. Coast Guard's Recreational Boating Statistics, 75% of on-the-water fatalities were on vessels where the operator did not receive boating safety instruction. Posted on 20 Jun
2024's "Best Harbors" in the U.S. Contest
Winning harbors include several surprises: harbors appearing first time on the “Best Harbor” list US Harbors, has announced the winners of their 5th annual contest to find the "Best Harbor" in the U.S. This crowd-sourced contest, open to the public for voting, is held online each year. Posted on 20 Jun
ACR Electronics introduces the Bivy Stick MESH
Revolutionizing remote satellite communication ACR Electronics, a leader in safety and satellite communication devices, proudly announces the launch of the Bivy Stick MESH. Posted on 20 Jun
Environment issues and boat show updates feature
A summary of news relevant to marine businesses across North America Last week, members of Congress questioned NOAA Administrator Dr Richard Spinrad on the agency's proposed expansion of the 2008 North Atlantic Right Whale Vessel Strike Reduction rule. Posted on 19 Jun
US expansion for yacht equipment manufacturer
Powys-based Makefast Group designs and manufactures equipment for the marine and safety industries A Welsh marine equipment manufacturer has achieved a $5 million boost in export revenue after opening a dedicated international base in the US, thanks to support from the Welsh Government. Posted on 19 Jun
ePropulsion Offers ultimate MFD compatibility
The new Smart Gateway is easy to use and install ePropulsion, a global leader and market innovator in marine electric propulsion systems and services, announced today the ultimate multifunction display (MFD) compatibility with the new ePropulsion Smart Gateway. Posted on 18 Jun
Allen Dynamic 40 FooterMaritimo 2023 S-Series FOOTERJ Composites J/45