ePropulsion, a global leader and market challenger in marine electric propulsion systems and services, is opening an office in Hong Kong to strengthen its research and development (R&D) capabilities. The new facility will support ePropulsion’s growth as an elite innovator that is introducing a smarter boating experience to the world.
The new R&D capabilities in Hong Kong complement ePropulsion’s Dongguan headquarters and manufacturing facilities as well as Shenzhen lab and marketing team. As a company based in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), ePropulsion is able to leverage the region’s strengths and synergies in science and innovation, high-tech manufacturing and professional services.
Backed by ePropulsion’s strong engineering culture, architecture and processes, the Hong Kong research team will focus on the development of autonomous ship technology and Internet of Boats (IoB). Researchers will work closely with their ePropulsion colleagues on the Mainland and have access to advanced software simulation tools and miniaturized prototypes as well as real-world testing opportunities.
Furthermore, the new office puts ePropulsion at the heart of Hong Kong’s innovation ecosystem and further strengthens its R&D relationship with the Hong Kong University of Science and Technology, where it was founded and incubated in 2012.
Danny Tao, CEO of ePropulsion, said: “ePropulsion is proud to be charting a greener future for the boating community worldwide from the Greater Bay Area. We are investing in Hong Kong because we believe in its future as an R&D centre within the world-class innovation and manufacturing hub that is the GBA.”
As one of ePropulsion’s early investors, Beyond Ventures’ Co-Founder and Managing Partner Lap Man congratulated the company on its latest developments and continued success. Man said: “ePropulsion is democratizing access to green boating and we are delighted to be a part of this transformational journey. We are proud to see them evolve into a global brand with continuous innovation that is transforming the electric propulsion market.”
“Besides offering support to the ePropulsion since her early days at HKUST, I am happy witnessing the growth and grow of this technology startup and feel proud of her great achievements with many HKUST alumni working together in the company. ePropulsion is a good example and outcome of HKUST’s approach in nurturing next generation of entrepreneurs.” Said Mr. Donny Siu, Acting Director and Head of the HKUST Entrepreneurship Center.
ePropulsion sales revenue grew 60% in 2020, with an uptick in interest in eco-friendly recreational boating in Europe and North America, its main markets. The company is forecasting 100% growth in 2021, propelled by new and evolving outboard motor product lines and upcoming innovations such as an ergonomic tiller and safety wristband.