Glas Ocean Electric
Electric boat energy storage for community power grids.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $2.0m | Seed | |
| Total Funding | 000k | ||
Glas Ocean Electric is focused on integrating electric boats with community energy systems to advance clean energy in coastal areas. Founded in 2017 by Sue Molloy, the company is headquartered in Dartmouth, Nova Scotia, Canada. Molloy, with a background in ocean engineering and over two decades of experience, including a Ph.D., leads the company's efforts to commercialize technologies that support the decarbonization of the marine sector.
The core of the business is a patented technology that enables electric boats to function as mobile energy storage units. This system allows vessels to not only draw power from the grid but also to supply energy back, a concept known as bidirectional charging or vehicle-to-grid (V2G) technology. This capability helps stabilize local electrical grids by providing power during peak demand (peak shaving) or emergencies and absorbing excess renewable energy when it's available. The company retrofits existing boats, such as fishing vessels, with electric propulsion systems and their proprietary energy management technology. A notable project involved the conversion of a 26-foot lobster boat, which served as a successful demonstration of their system.
Glas Ocean Electric's business model involves retrofitting vessels and providing the associated hardware and software for energy management. The company targets marine operators and coastal communities looking to transition to cleaner energy and improve grid resilience. By making electric boats an active component of the energy infrastructure, they create an additional value stream for boat owners, who can potentially earn revenue by providing grid services. The company has received support and funding from various Canadian government and innovation programs, including the Ocean Startup Challenge and the Government of Canada's IDEaS program.
Keywords: marine electrification, energy storage, vehicle-to-grid, clean energy, coastal communities, electric boats, grid services, marine technology, vessel retrofitting, ocean engineering