ACEL Power, designs and manufactures electric outboard engines has raised oversubscribed Series A round with US$10M in funding led by Tau Capital, an Abu Dhabi-based private venture capital firm committed to supporting advancements in science and technology for a positive impact on the world.

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With the funds raised from the funding, ACEL plans to launch higher-power solutions as well as expand its mass production capacity. The money will be used to advance sales prospects, scale operations, and conduct innovative R&D. The high-performance Intelligent Electric Series IE 50 (50 HP) and IE 75 (75 HP) electric outboard motors are currently being mass produced by ACEL. In the autumn of 2024, the IE 150 (150 HP) and IE 250 (250 HP) motors will go on sale.

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“The closure of this funding round enables ACEL to accelerate its growth strategy to meet the growing market demand for marine electric solutions,” says Anthony Liu, CEO and Co-Founder of ACEL Power. “At ACEL, we are not just electrifying the marine landscape, we are digitalizing it, reimagining boating experiences with cutting-edge digital capabilities.”

“With the shift in environmental regulations and growing demand for sustainable solutions, ACEL is exceptionally positioned to meet the market needs. We are impressed by ACEL’s patented technology, manufacturing capability, hardware-software integration and experienced leadership. We are excited to partner with ACEL in delivering the future of marine mobility providing a cleaner solution to both recreational and commercial boating,” said Brad Allen, Managing Director at Tau Capital.

Brad Allen, a seasoned start-up entrepreneur with multiple exits and decades of experience in global finance, also joins ACEL as a board director. Brad is committed to using the most recent technological advancements to create businesses that have an impact on the environment and society.

About ACEL Power

ACEL Power international team of passionate experts are charting the voyage to carbon neutrality. It design and engineer Intelligent Electric comprehensive systems, software and infrastructure that empower the forward-thinking explorers of today with the propulsion products of tomorrow. A new age in maritime power has dawned, and we are proud to be at its helm delivering world-leading electrification technologies.