Business Type: Boat Builder
UK & International Business Sales and M&A News
Electric marine technology firms ZeroJet and Tectrax, both based in New Zealand, have announced their merger, expected to be finalised next month.
The merger will see a sharing of expertise in the electric vessel arena, with both brands continuing to develop, with the aim of becoming a global leader in next-generation electric drives and amphibious boat systems.
Based in Auckland, ZeroJet builds high performance, low weight EV boats housing low-voltage electric jet boat propulsion systems. What originated from designing and building a recreational electric jet board, the system was quickly reconfigured as a ‘plug and play’ electric jet system for small boat manufacturers.
Since 2023, ZeroJet’s powertrain continues to showcase its technological strength, such as its incumbent 18kW (25hp equivalent) outboard – the highest power-to-weight electric outboard available.
Neil Mans, Co-founder of ZeroJet, said:
“There’s so much development in electric marine. We’re showing how a company in New Zealand can lead the way.
“We’ve seen it before with companies like Rimac Automobili in Croatia – they’re amazing, completely redefining electric performance in vehicles. I see the same drive, the same level of engineering and innovation in this new company as I do in Rimac’s workshop, except we’re doing it all in marine.”
Neil Mans – Co-founder of ZeroJet
Tectrax was founded in 2017, launching its first-generation All Wheel Electric Drive (AWEDTM) electric amphibious system. Over the following years, it launched amphibious boats with several reputable New Zealand boat builders.
In 2022, Auckland-based Tectrax bought in additional investors led by Movac Venture Capital, leading to further industry-leading research and development. Last year the company launched its second-generation, fully electric amphibious system – the world’s first hydraulic-free electric solution.
Mark Robotham, ZeroJet CEO, said:
“This merger establishes a powerful platform for innovation and resilience, positioning us to become one of the largest suppliers of electric marine systems globally.
“By merging, ZeroJet and Tectrax will leverage shared technologies, supply chains, and sales channels, creating a multi-product company poised for accelerated growth and strengthened resilience in today’s challenging global economy.”
Mark Robotham – ZeroJet CEO
Both ZeroJet and Tectrax already work in partnership with several boatbuilders and OEMs in New Zealand and internationally. By uniting ZeroJet’s 48V electric propulsion technology with Tectrax’s advanced electric amphibious solutions, the new entity will offer a significantly expanded product portfolio.
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