Latest news with #MitchLee
Yahoo
an hour ago
- Automotive
- Yahoo
Boeing Engineers Turn Startup Arc Into Marine Powerhouse With New $168K Electric Boat That Outpaces Gas Competitors
Arc, a California-based startup founded in 2021 by former Boeing (NYSE:BA) engineers Mitch Lee and Ryan Cook, announced on May 15 its third all-electric boat model, the Arc Coast, priced at $168,000. The new 24-foot vessel follows the sold-out Arc One and the still-available Arc Sport, originally priced at $300,000 and $268,000, respectively, and offers a more affordable entry point for recreational boaters. According to Electrek, this new model is aimed at broader recreational markets, offering simplified design and reduced material costs while still delivering the power and performance of its predecessors. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can Arc Coast features a high-voltage 226 kWh battery, the same system used in the Arc Sport, which, according to Electrek, gives the boat a top speed of 50 miles per hour and a cruising time of four to five hours on a single charge. Instead of the large outboard engines common in traditional boats, Arc says it uses a compact sterndrive system. The open deck accommodates up to 10 passengers, creating more room for fishing, relaxing, or swimming without the bulk and noise associated with combustion engines, Electrek reports. Arc said in a statement that the center console format has long been used for fishing and sandbar outings, offering flexible movement and social space. The Arc Coast was designed from scratch to deliver quiet electric performance, streamlined software, and a simplified ownership experience compared to traditional gas-powered boats. The design also enables Arc to simplify the layout and reduce material costs. Trending: Invest where it hurts — and help millions heal:. 'People love center consoles, but the experience hasn't improved,' Lee said in the statement. 'The Arc Coast is what you get when you start from scratch: all the benefits of quiet and powerful electric performance, powered by advanced software, and paired with an ownership experience free from many of the headaches common with today's gas boats.' According to the Environmental Protection Agency, diesel-powered boats contribute significantly to marine pollution through oil leaks, ground-level ozone, and toxic emissions that impact coastal ecosystems. Electric boats offer a cleaner alternative because they are quieter, require less maintenance, and can be charged with energy from renewable sources, Arc says. Even when factoring in the environmental cost of lithium-ion battery production, a 2016 report suggests that electric marine transport remains more sustainable than extracting and burning billions of tons of fossil fuels each year. Arc says it reused its existing battery system to reduce development time and expects to bring the Arc Coast to market in less than one year from prototype to the $168,000 price tag still places the Arc Coast in the premium category, the cost is significantly lower than previous Arc models. The new model fits into a broader trend of electrification in transportation, where marine sectors are now undergoing rapid shifts toward battery-powered mobility, according to a 2025 report from Grand View Research. Interested buyers can reserve the Arc Coast directly through the company's website, with deliveries expected to begin in 2026. Read Next: Here's what Americans think you need to be considered wealthy. Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? BOEING (BA): Free Stock Analysis Report This article Boeing Engineers Turn Startup Arc Into Marine Powerhouse With New $168K Electric Boat That Outpaces Gas Competitors originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
2 hours ago
- Automotive
- Yahoo
Boeing Engineers Turn Startup Arc Into Marine Powerhouse With New $168K Electric Boat That Outpaces Gas Competitors
Arc, a California-based startup founded in 2021 by former Boeing (NYSE:BA) engineers Mitch Lee and Ryan Cook, announced on May 15 its third all-electric boat model, the Arc Coast, priced at $168,000. The new 24-foot vessel follows the sold-out Arc One and the still-available Arc Sport, originally priced at $300,000 and $268,000, respectively, and offers a more affordable entry point for recreational boaters. According to Electrek, this new model is aimed at broader recreational markets, offering simplified design and reduced material costs while still delivering the power and performance of its predecessors. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can Arc Coast features a high-voltage 226 kWh battery, the same system used in the Arc Sport, which, according to Electrek, gives the boat a top speed of 50 miles per hour and a cruising time of four to five hours on a single charge. Instead of the large outboard engines common in traditional boats, Arc says it uses a compact sterndrive system. The open deck accommodates up to 10 passengers, creating more room for fishing, relaxing, or swimming without the bulk and noise associated with combustion engines, Electrek reports. Arc said in a statement that the center console format has long been used for fishing and sandbar outings, offering flexible movement and social space. The Arc Coast was designed from scratch to deliver quiet electric performance, streamlined software, and a simplified ownership experience compared to traditional gas-powered boats. The design also enables Arc to simplify the layout and reduce material costs. Trending: Invest where it hurts — and help millions heal:. 'People love center consoles, but the experience hasn't improved,' Lee said in the statement. 'The Arc Coast is what you get when you start from scratch: all the benefits of quiet and powerful electric performance, powered by advanced software, and paired with an ownership experience free from many of the headaches common with today's gas boats.' According to the Environmental Protection Agency, diesel-powered boats contribute significantly to marine pollution through oil leaks, ground-level ozone, and toxic emissions that impact coastal ecosystems. Electric boats offer a cleaner alternative because they are quieter, require less maintenance, and can be charged with energy from renewable sources, Arc says. Even when factoring in the environmental cost of lithium-ion battery production, a 2016 report suggests that electric marine transport remains more sustainable than extracting and burning billions of tons of fossil fuels each year. Arc says it reused its existing battery system to reduce development time and expects to bring the Arc Coast to market in less than one year from prototype to the $168,000 price tag still places the Arc Coast in the premium category, the cost is significantly lower than previous Arc models. The new model fits into a broader trend of electrification in transportation, where marine sectors are now undergoing rapid shifts toward battery-powered mobility, according to a 2025 report from Grand View Research. Interested buyers can reserve the Arc Coast directly through the company's website, with deliveries expected to begin in 2026. Read Next: Here's what Americans think you need to be considered wealthy. Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? BOEING (BA): Free Stock Analysis Report This article Boeing Engineers Turn Startup Arc Into Marine Powerhouse With New $168K Electric Boat That Outpaces Gas Competitors originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Automotive
- Yahoo
Startup founded by former Boeing engineers causes shockwaves with new electric boat: 'What you get when you start from scratch'
Electric boat startup Arc has just announced its newest model, the Arc Coast: a center console boat with features from its predecessors but at a significantly lower price. Mitch Lee and Ryan Cook, both former Boeing engineers, founded the company in 2021 and have already launched two previous models: the Arc One and Arc Sport, according to Electrek. Those models were priced at $300,000 and $268,000, respectively, but the new 24-foot, all-electric Arc Coast is aimed at a more casual market and is already available for presale starting at $168,000. Center console boats place the captain at the center, freeing up more space around the edges of the vessel for fishing and relaxation. The company noted that although the form factor remains popular, it hasn't evolved much, continuing to rely on loud, pollution-spewing engines and cluttered layouts. "People love center consoles, but the experience hasn't improved," said Mitch Lee, co-founder and CEO of Arc, in a statement. "The Arc Coast is what you get when you start from scratch: all the benefits of quiet and powerful electric performance, powered by advanced software, and paired with an ownership experience free from many of the headaches common with today's gas boats." Since these types of vessels tend to have less luxurious upholstery, less protection from the elements, and fewer seating options, the company was able to save money on materials and offer a better price point, Electrek explained. Boats commonly use diesel to power their engines, but that dirty fuel can contribute to harmful ground-level ozone pollution and lead to fuel spills and oil leaks, which endanger marine environments. Electrified marine vessels are cleaner and quieter, require less maintenance, and eliminate harmful emissions. Plus, their batteries can be charged with electricity from renewable sources and recycled at the end of their lifecycle. If you were going to purchase an EV, which of these factors would be most important to you? Cost Battery range Power and speed The way it looks Click your choice to see results and speak your mind. Even when you factor in the 30 million tons of minerals mined annually for lithium-ion batteries, electric vehicles are still better for the environment than mining 16.5 billion tons of fossil fuels to power gas-guzzlers. The Arc Coast seats up to 10 people on its open deck, and its 226kWh battery should provide approximately four to five hours of cruising at speeds of up to 50 miles per hour, the report detailed. The battery powers a compact sterndrive rather than the bulky outboards typically used on these vessels, allowing for more room to swim or lounge in the sun. By reusing the same high-voltage battery system as the Arc Sport, the company says it's bringing the Coast from concept to production in just under one year. It's expected to release by 2026, and interested buyers can reserve one on the company's website. Join our free newsletter for weekly updates on the latest innovations improving our lives and shaping our future, and don't miss this cool list of easy ways to help yourself while helping the planet.
TechCrunch
16-05-2025
- Automotive
- TechCrunch
Arc's new 24-foot electric boat is its cheapest yet
Electric boat startup Arc has a new model that is its cheapest and most approachable watercraft yet. The new boat is called the Arc Coast, and it will start at $168,000. The company is taking preorders now and says the Coast will ship in 2026. The Coast is what's known as a 'center console' boat, which is often used for fishing. It's the company's third model, following the limited edition $300,000 Arc One and the $268,000 Arc Sport (which I got to pilot earlier this year). That's despite coming out of stealth just four years ago. Arc also recently announced it's working on an electric tug boat to be used at the Port of Los Angeles, as the startup tries to make good on founder and CEO Mitch Lee's ambitious promise to electrify all watercraft. The company says the Coast is powered by the same 226kWh battery pack Arc designed for the Sport and is roughly the same size. That battery should last for hours — four to five, or even more, depending on how much drivers use the 400 horsepower on offer — and power the Coast up to around 50 miles per hour. Up to ten people can ride on board. The big difference between the Coast and the Sport, other than price, is the layout. True to its name, the 'console' or helm of the boat is situated in the center, allowing for freer movement around the edges. It appears to have the same fit and finish of Arc's other boats, which looked superb even on the production-intent Sport I drove in January. Arc has also put a lot of work into the software on the center console's screens, which are minimalist yet rich with information. Add in all the other upsides over gas boats like no fumes, no winterization, and less noise, and it's possible to imagine people justifying what is still an eye-watering price tag when it hits the market next year.
Forbes
17-04-2025
- Automotive
- Forbes
Port Of L.A. To Get First Electric Tug Via Diesel Conversion
Diesel tug boat being converted to an electric vessel by Arc Boat Company and Divisified Marine Inc. ... More at the Port of Los Angeles. A diesel-powered tug boat chugging as it guides ships in the Port of Los Angeles will soon be doing its duties with an emission-free electric motor after a dramatic makeover, making it the first electric tug in the nation's busiest port. Together with shipbuilder Diversified Marine Inc., L.A.-startup Arc Boat Company is converting a 26-foot diesel-tug into a battery-powered electric vessel, as the Port of L.A. seeks to be zero-emission by 2030. Primarily a builder of recreational electric boats, the tug conversion marks Arc's first foray into commercial marine, but likely, not the last. 'It's too early to speak to our specific roadmap, but I acknowledge that there's interest in going electric across a variety of commercial vessels,' said Arc co-founder and CEO Mitch Lee, in an interview. 'You already see interest in electric ferries, for example, and our goal is to help modernize the entire industry.' Indeed, the electric boat industry has grown over the past few years including industry leaders Navier, Forza X1 Inc. and Candela Technology AB. Last year Navier launched shuttle service for employees of financial infrastructure platform company Stripe in the San Francisco Bay Area using its electric hydrofoil vessels. Tech startup Navier is launching a hydrofoil transit program with financial platform company Stripe ... More in the San Francisco Bay Area to transport Stripe employees from Marin County to company headquarters in South San Francisco. Arc currently produces two recreational electric boats, the Arc One and Arc Sport. The electric tug boat conversion now underway is designed to offer both the cost and performance advantage electric propulsion provides. '50% of the operating costs being maintenance and fuel is what we're specifically targeting with a solution like this,' said Kofi Asante, vice president of business development at Arc. 'From a commercial operator perspective we're delivering a tug that is very familiar,' added Lee. 'It is staffed the way that you typically staff these things, except you get more torque, except that you don't have these diesel engines that are kind of generating a lot of fumes.' In addition, while it might take a crew of five or six individuals to operate a diesel-powered tug, only one person is required to operate an electric tug and that person does not have to be a licensed captain, according to Asante. Adding momentum to Arc's move into the commercial sector is the establishment of the White House Office of Shipbuilding, created by Pres. Donald Trump in an executive order signed on April 5. The office is designed to stimulate the domestic shipbuilding and provides financial incentives to support the industry. 'We actually think that now, more than ever, is a really special time to be introducing innovative solutions that can get to market quickly, have great operating costs and then have high performance, because that's how you actually continue to kind of level the playing field on a global level, with commercial ship building,' said Asante. 'So we think that the new ship building White House department is going to be a catalyst for a lot of this.' It will be a few more months until Arc's electric tug will be ready to begin guiding ships in the busy Port of Los Angeles, but it's a project with a sense of urgency, according to Frank Manning, president of Diversified Marine. 'As the backbone of port logistics, workboats are a crucial component to the shipping industry. It's time to bring them into the modern age,' said Manning, in a statement. 'With a partner like Arc, we will now be able to set the bar for the future of American ports, and truly show the benefits of what clean maritime technology can achieve.' It all starts with this first electric tug, said Arc's Lee, who sees the company's commercial growth floating far beyond the Port of L.A. 'We're starting with workloads, and we have big aspirations here,' said Lee. 'We think that's critical infrastructure, critical capabilities for the U.S., but our aspirations are certainly larger than that.'
