Pure Watercraft, Inc.

Pure Watercraft, Inc. specializes in innovative electric boating solutions, focusing on the development of electric-powered pontoon boats that promote sustainable recreational boating. Founded in 2011 in Seattle, US, Pure Watercraft, Inc. designs and manufactures electric pontoon boats powered by their proprietary Pure Outboard systems.

The company, under the leadership of CEO Andy Rebele, has completed 4 deals to date, with a significant pivot towards electric solutions driven by market demand. In November 2021, General Motors Co. acquired a 25% stake in the company for USD 150 mn. The total amount raised by the company stands at USD 150 mn.

Pure Watercraft specializes in the development and manufacturing of electric pontoon boats powered by their proprietary Pure Outboard systems. Their flagship product, the Pure Pontoon, is designed for comfort and efficiency, offering options for single or twin outboard configurations. These boats deliver a seamless cruising experience, featuring integrated technology that includes a companion smartphone app for real-time diagnostics and updates. The targeted end users are recreational boaters looking for a sustainable and quiet alternative to traditional gas-powered boats.

Pure Watercraft's products are marketed primarily in North America, specifically targeting regions with significant boating activities such as the Great Lakes and coastal areas where eco-friendly boating solutions are gaining traction. Pure Watercraft generates revenue through direct sales of their pontoon boats and associated products, with pricing starting at USD 75,000 for single-outboard models and USD 95,000 for twin-outboard models. The company utilizes a pre-order system that allows customers to place refundable deposits, securing their order and indicating strong interest before finalizing the transaction. This model fosters a direct-to-consumer relationship, allowing Pure Watercraft to engage with individual customers rather than relying on a network of retailers or wholesalers.

The company's focus on innovative electric boating solutions positions it favorably within a growing market segment, and the transaction structure is designed to enhance customer loyalty through its commitment to quality and customer service. Pure Watercraft plans to leverage its recent funding to expand its product offerings and geographic reach. The company is currently designing new electric boat models and aims to launch these products in the next 18 months. Additionally, Pure Watercraft is looking to penetrate new markets, particularly in Europe and Asia, by the end of 2023.

The recent funding from General Motors Co. will support the development of these products and facilitate entry into these new regions.