Big Law

General Motors Acquires Stake in the Electric Boating Start-Up Pure Watercraft

General Motors, which has billed itself as “all in on electrification” this year, has acquired a 25% stake in Pure Watercraft, a Seattle start-up that makes electric outboard motors for boats, the companies told CNBC.

Pure Watercraft motors use lithium ion batteries and replace 40- to 50-horsepower outboard motors that burn gas or diesel. Traditional fuel-powered boats contribute to environmental problems including noise pollution, smog, and water pollution that is plainly visible floating on the water in their wake. Pure’s systems are much quieter and cleaner.

For Pure Watercraft CEO Andy Rebele, a lifelong fishing and boating enthusiast and former rowing coach, a personal drive to solve those problems lined up with a massive market opportunity.

Read the source article at cnbc.com

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