Pure Watercraft: Is the startup going public & can you buy its stock?

3 min read | November 23, 2021 04:26 AM EST | By Raza Naqvi

Pure Watercraft: Is the startup going public & can you buy its stock? — Image source: © Prykhodov | Megapixl.com

Is Pure Watercraft publicly traded?

Founded in 2011 in Seattle, Pure Watercraft continues to remain a private company and has not announced an initial public offering (IPO) plan yet. So far, Pure Watercraft has reportedly raised US$ 189.6 million through different funding rounds.

Pure Watercraft stock

After General Motors' announced investing US$ 150 million in Pure Watercraft, potential investors are searching for the company's public debut plans. Those interested in the Pure Watercraft stock will have to wait until the company goes public.

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The latest move of investing into the electric boat startup reflects the increasing interest of General Motors in electric vehicles (EVs), including boats. The company reportedly aims to invest US$ 35 billion in electric and innovative technologies through 2025.

The top US automaker expects to double its revenue by 2030 and become an EV leader in the country. However, General Motors has not disclosed any upcoming products in partnership with Pure Watercraft.

Under the deal, Pure Watercraft is expected to get access to the carmaker's components and manufacturing assistance. As climate change remains a major issue across the world, General Motors is making efforts to make marine products with zero emissions.

Bottom line

Using innovative technologies, Pure Watercraft produces all-electric outboard motor systems which can be used to replace 25 to 50 horsepower gas-powered motors in boats.

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The electric boat startup has also collaborated with boat makers to sell all-electric boats, including a fishing boat, pontoon barge and inflatable boats.

A Research and Markets report valued the global electric boat and ship market at US$ 4,581.3 million last year and it is expected to reach up to US$ 9,010.5 million by 2026. During this period, the industry will likely register a compound annual growth rate (CAGR) of 12.7 per cent.

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