About the Startup:
The company's primary focus is enabling technologies for improving port infrastructure.
The first product in the line includes shore-to-ship connection systems for charging both conventional and electric marine vessels.
Since the electrification of ferries is expanding quickly, our first product is an automated system for connecting e-ferries to charging stations.
At about 40% of their costs, our solution provides a more reliable connection than competing products in flexibility and adaptability.
Business Stage:
This is at launch/pre-seed/seed level.
Management Team:
We are 4 co-founders. Half of the team has about 15 years of experience in the field of automation machinery.
Others have experience in marine electrification and power electronics.
Our CEO, Mert Doganli has founded startups and sold products and services to well-known international clients. 3 out of 4 of the team members have or will soon have their Ph.D.s in their respective fields.
We plan to grow the team with rising talent from commercial and technical backgrounds.
Problem and Opportunity:
International maritime organization is establishing maximum emission levels in coastal regions which accounts for 90% of all maritime emissions.
Because the first electric ferry operation in 2015 saved almost one million liters of fuel and 2700 tons of CO2 annually, ferry operators decided to switch to electrification. The total amount saved during the lifetime sums up to 15.4 million Euros.
As a result, new ferries with electric propulsion are being ordered. However just 1% of all ferries have been built so far.
The fulfillment of the remaining new orders is a significant opportunity and the infrastructure should be able to handle this change.
An essential component of an electric port ecosystem is the shore to ship connection system.
Our first product offers the best option for the ports due to its modular design and easy-connect features.
What makes our startup unique?
We believe that a company's culture and values are what make it unique.
Founders develop this culture from the beginning.
The answers to what makes us unique lies in the following sentences:
1) With knowledge becoming more accessible and democratic, the status quo in long-established sectors might not keep up with the shift.
Because of this, we prefer to create solutions that are affordable and use our expertise in related industries to manufacture efficient hardware using the fewest resources.
2) The value is not just in scaling, but also in helping the transition with well-thought-out solutions that could one day stop millions of people from becoming emission related refugees.
Elon Musk said: "If something is significant enough, you should attempt even if the odds are against you."
3) We have a strategy for our product line which we are attached to. This product is a niche entry to the market. Then we intend to expand the product line with hardware-enabled software, an area where we are very experienced at.
Our go-to-market plan:
Initially, we plan to sell the machines to the ports and ferry operators. Since ports and operators work closely together, we need to include both in the purchasing decision. Also, we need to include the grid companies and work with them to deliver "energy as a service" in order to reduce the upfront investment costs.
Over the medium term, with the introduction of our data analytics solutions, we will present analysis results as valuable insights to existing customers using the data collected in battery charging process and help them with performance optimization.
Traction & Milestones:
Elkon, an electrical integrator for the shipbuilding industry, made a down payment for the development of the product. They have been involved in several electric ferry projects and wanted to provide a turnkey solution with the help of REGBES.
So far, we have developed two prototypes, the first to develop image processing algorithms and the second to test operational reliability at ports. Recently we discussed with multiple ports for a potential POC.
Funding:
In discussion with couple of potential investors.
Raising:
Now- 475.000 Euros
