Voltaic Marine
Setting the Scene
Demand for electric and drone boats is rising rapidly, but the marine industry is bottlenecked by battery technology and manufacturing capacity.
Here’s why:
Battery Limitations: High-energy-density batteries designed specifically for boats are rare, forcing builders to compromise on performance and range.
Cost: Marine batteries are 2–7 times more expensive than automotive ones, making large-scale adoption difficult.
Shipbuilding Constraints: The U.S. faces severe limitations in shipbuilding capacity, driving a strategic shift toward unmanned surface vehicles.
This week’s company offers dual-use, scalable battery technology and manufacturing capacity for the marine industry.
In a Sentence
Voltaic Marine is an electric battery and boat manufacturing company that scales consumer, commercial, and DoD demands in the marine industry.
Electric Batteries: Voltaic Marine’s battery configurations offer adequate energy density to meet the performance demands of consumer, commercial, and DoD marine applications.
Boat Manufacturing: Its vertically integrated manufacturing model—built on robotic automation and modular design—enables scalable production of electric boats for both dealerships and defense contracts.
Bulleted Version:
- Similar to how Tesla manufactures both batteries and vehicles, Voltaic Marine vertically integrates energy systems and electric boats—serving both recreational users and defense applications.
The Basics
- Headquarters: Michigan
- Employee Count: 15
- Investors:
Antler, Michigan Economic Development Corporation, and Centrepolis Accelerator
- Funding amount: $600k
- Business model: Direct and dealers in consumer. Supplier to Prime’s in DoD.
- Early traction: $350k initial sale, 2 direct pre-orders, Dealer LOIs (~20 units/year each), DoD ITAR certified
Due Diligence
WHAT WE LIKE
Shifting Toward Electric: The Marine Drone Market size was valued at USD 4.4B in 2023 and is projected to reach USD 15.4B by 2031, growing at a CAGR of 15.9% during the forecasted period.
Defense Applications: By building for the recreational market first, Voltaic Marine is laying the foundation to scale into DoD contracts, massively expanding its TAM through drone boat deployments.
Patented: Voltaic Marine’s utility-patented hull and modular battery system supports both long-range recreational boats and autonomous defense vessels.
POTENTIAL RISKS
Long-Term Play: Voltaic’s defense opportunity is compelling but may take time to fully materialize—the company must navigate early-stage execution in the consumer market while balancing timelines and procurement cycles in DoD.
Tariffs and Supply Chain: Global manufacturing and sourcing introduce risk amid ongoing geopolitical instability, particularly with tariffs and materials availability.
Capital Intensity: As a hardware and manufacturing company, Voltaic Marine faces a CapEx-heavy path that will require sustained investor support and operational discipline to scale profitably.
Founder Profile
Richard Phamdo, CEO: Previously led EV, AI, and Autonomous programs at Intel Automotive.
Will Stewart, CTO: Previously drove advancements in engineering and product development at Intel, Kaiser Aluminum, and Schneider Electric.
Jonathan Yin, CPO: Previously oversaw supply chain and product management at Texas Instruments, Tesla, and Cruise Automation.
Cody Covey, COO: Previously director of parner engagment at Intel and sales manager at Zones.
Comps
Arc Boats: Backed by Andreessen Horowitz, Eclipse Ventures, and others.
Saronic: Backed by 8VC, Caffeinated Capital, Andreessen Horowitz, and others.
Why Voltaic Marine
By building dual-use battery systems and scalable boat manufacturing under one roof, Voltaic is well positioned to succeed across both consumer and defense markets—making this an electrifying opportunity.
