Boatbuilding News 16.08.24 Feat. Twin Vee PowerCats, Optima Yachts, Technohull, Forza X1 & Cristec

📰 This weeks Boatbuilding News 📰 

 ⚡️Optima Yachts will showcase its e10 prototype at the upcoming Southampton Boat Show (13-22 September 2024) and introduce its latest advancements in electric yacht technology.

Optima Yachts says the e10 features an efficient, low-resistance hull design that supports all-day cruising under battery power. It offers a range of 150 nautical miles and combines luxury and design with a focus on sustainability.

Optima will also begin accepting build orders for the Optima e14, a 14-metre yacht scheduled for production in 2025/26. The e14 incorporates advanced green technology and an electric drive system designed for quiet, efficient cruising. It also provides a 150-nautical-mile range to address concerns about range limitations.

The e14 is equipped with modern cooking facilities, including induction hobs, electric ovens or microwaves, and a dining area with seating for up to 10 guests. Large fridges, freezers, and ice-makers are integrated into the yacht’s electrical system, offering convenience without relying on gas or flammable fuels, which enhances onboard safety.

The e14 is constructed with lightweight FRP structures, natural reinforcements such as flax fibres and bio-resins, and recycled materials. Optima says the use of advanced composites like carbon fibre aims to balance performance with environmental responsibility.

The e14’s energy solutions include integrated solar panels that are compatible with existing marina infrastructure and fast DC chargers for extended cruising.

Following the Southampton Boat Show, Optima Yachts will present its electric range at the Monaco Yacht Show (25-28 September 2024), as part of the British Marine Superyacht UK stand. The brand says this exhibition offers an opportunity for it to introduce its innovations to a global audience.

🤝Twin Vee PowerCats and Forza X1 have officially agreed to a merger. In an all-stock transaction, Forza, currently a subsidiary of Twin Vee, will become a wholly-owned subsidiary of Twin Vee.

The merger is subject to shareholder and regulatory approvals but is expected to close by the end of 2024. The combined entity will continue under the Twin Vee PowerCats Co. name, and the company’s common stock is expected to continue to trade on NASDAQ under the current ticker symbol “VEEE.”

Twin Vee PowerCats, based in Fort Pierce, Florida, manufactures Twin Vee and AquaSport boats. Forza is an electric boat builder with a facility in North Carolina.

In July this year, Forza stopped selling its electric boats amid a slowdown in the marine EV market, in an attempt to conserve cash. After the announcement, the firm said it was committed to adjusting its strategy to maintain long-term success.

“Twin Vee is taking the steps necessary to drive this company forward. We believe this merger is the next logical step. We began by bringing in top talent from larger organisations that could help us achieve our growth and profit objectives."

says Twin Vee’s chairman and chief executive, Joseph Visconti, who also serves as Forza’s interim chief executive.

“Karl Zimmer, our new president, and Michael Dickerson, our new CFO, are laser-focused on leaning out waste and inefficiency, driving down our product and overhead costs, continuing the ERP implementation, and developing procedures and platforms to build the best boats possible and scale those efficiencies as we grow the business. It will take time, resources, and effort to achieve our goals, but we have assembled the right team, we have a strong balance sheet, and we have the support of a great group of shareholders to help us get there. I am so excited to bring these two companies together at this time. This merger represents the latest significant milestone for both Twin Vee and Forza X1. By combining our resources and strengths, we are creating a more competitive company that is positioned to achieve our long-term profitable growth and drive shareholder value.”

The merger will see Forza shareholders, excluding Twin Vee, receive 0.61166627 Twin Vee shares for each Forza share they hold.

🔋 Cristec, a market leader in modern high-performance, switch mode battery chargers, will introduce two new product lines later this year: the RCB+ split charge relay and the RCE+ battery isolators.

Advance Yacht Systems, a leading provider of marine equipment in the UK and Ireland, will officially launch the RCB+ and RCE+ at this year’s Southampton International Boat Show in September. A dedicated event will be held at 10:15 a.m. on September 13 at Stand J336 in Ocean Hall.

The RCB+ is a new product line from Cristec that allows users to share the charging power of an alternator between a starting battery and a service battery. The RCB+ is lithium-ready, meaning you can now use your alternator to charge lithium batteries without damaging it. It is compatible with 12VDC and 24VDC alternators and features a rotary encoder to limit the current to your service battery from 50A to 120A.

The RCE+ battery isolator is the successor to the original RCE range and has a new compact design. The RCE+ is a MOSFET battery splitter that delivers charging current from an engine alternator or other source of battery charging to separate battery banks with no volt drop. They are designed to ensure all the batteries connected to the outputs get the maximum possible charge while keeping them isolated from each other. The RCE+ is compatible with 12VDC and 24VDC voltages, allows the use of LiFePO4 (lithium) batteries and the RCE+ automatically powers up when you turn on your engine.

Both the RCB+ and RCE+ are made in France.

The RCE+ and RCB+ build off existing products in Cristec’s range, which have been part of their portfolio for over 12 years. Cristec says the new ‘plus’ range is part of its latest push over the past few years to increase the efficiencies and functionality of existing product ranges and expand into new product offerings.

Cristec says both products are suitable for boats up to 100 feet in length in the leisure market and smaller commercial vessels.

There aren’t currently any new launches on the public roadmap for 2024; however, Cristec says it is constantly investing in R&D and working on new products, as well as increasing the efficiencies of existing products.

🇬🇷 Technohull has completed the next phase of expansion at its boatbuilding facility in Lavrio, Greece.

The Greek RIB manufacturer says the new site will allow it to meet growing demand for its boats and allow it to take on increasingly challenging projects.

Technohull first unveiled its 50-acre factory in 2021. The site cost €20m to build, according to Technohull. The firm has since added a further 20 acres to make 70 acres in total, while the covered manufacturing area has more than doubled from 12,000 square metres to over 25,000 square metres, with two new buildings also added.

The new Technohull facility includes a new building for GRP production, several automotive-style painting booths, the larger one 25 metres long, a new space dedicated to CNC machines, and a new carpentry and decking manufacturing building.

“After three years in our new facility and as our range develops – including new, challenging projects we are undertaking – our production needs are continually increasing. This has meant the need for immediate expansion with additional facilities.”

says Gerasimos Petratos, chief executive of Technohull

The firm says the site is “one of the most modern and technologically advanced shipyards in the world” for this market category.

Complementing the range of industrial equipment, spanning everything from small-scale milling machines and 20-metre-long 5-axis CNC unit to fully controlled spray booths and post-curing ovens, the expanded facility now includes another 6.500 sqm building for GRP production, automotive-style painting booths, a 25-metre painting booth, a building dedicated to carpentry and decking manufacturing and 1,500sqm dedicated space for new CNC machines.

“The whole production site is perfectly organized for every step of the production process from concept development, design and prototyping to final production, engineering and fitting. This enables lean and environmentally friendly production processes to ensure the highest boatbuilding quality and, most importantly, the capacity to complete even the most demanding projects.”

says Petratos.

Technohull says its production in 2024 will be 55 per cent higher than in 2022, with 155 units built. The number of employees has increased from 120 to more than 220 over the same period, and the firm’s turnover has increased by approximately €10m each year.

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