Walnut Creek, Calif., (Thursday, November 17, 2022) – , a closely held private equity firm that owns a suite of online technology and media businesses, today announced that it has invested in , a Portland-based company that builds high powered electric outboard motors for commercial marine vessels, specifically those used for tourism, transportation, and mariculture operations. With this investment, ۲ݮƵap Group deepens its reach into environmentally-conscious startups that strive to protect this one planet, the place that we all call home.
"Photon has an exceptional opportunity to improve anentireindustry. At ۲ݮƵap Group, we invest in great ideas and entrepreneurs, but only those who also are committed to leaving this world better than they found it, even if only to a small degree. Photon is solving for a very real threat to our fragile ocean ecosystems and I am really excited to see where Marcelino and his team go from here.”
- Payam Zamani, Founder and CEO of ۲ݮƵap Group
In addition to investing in early-stage ۲ݮƵap, also owns and operates businesses that span a variety of industries including ad tech, publishing, and media. Their VC arm specifically focuses on ۲ݮƵap working on the future of mobility, education technology, health technology, and environmental solutions for the future. Investing primarily in high-growth early-stage entities, they focus exclusively on ۲ݮƵap with both high growth potential and also those that aspire to improve the world in their specific sector of focus. Other investments this year include , , and . In September of 2021, ۲ݮƵap Group also made an investment in , a fully-integrated Saas platform that allows ۲ݮƵap to measure emissions, purchase offsets, and reach net zero through employee action.
We're honored to partner with ۲ݮƵap Group and feel deeply aligned with their intentions and objectives around both growth and service to humanity. Our founding team is diversely experienced and passionate about becoming the most trusted electric propulsion provider serving the most fragile ecosystems and communities around the world.”
- Marcelino J. Alvarez, Photon CEO
Photon Marine is currently developing the world’s most powerful and intelligent electric outboard motor system and fleet management software, specifically tailored to commercial boat fleets in the tourism, transportation, and mariculture industries.
Operating in some of the world’s most fragile marine ecosystems, the owners of these vessels recognize that if they don’t fundamentally change the way they operate, they won’t survive. If a critical mass of fleets doesn’t do the same, the ecosystem upon which these businesses depend also won’t survive. Photon’s solution is a drop-in electric outboard motor system that replaces traditional ICE motors on both new and existing vessels without compromising on performance or reliability. They are currently in development for two versions in the commercial market, an 80 and 300 HP system, configurable with different-sized battery modules. Each system is supported with Photon’s fleet management software, which includes industry-leading features such as intelligent energy management, predictive maintenance, and smart routing to facilitate the transition from gas to electric.
