ACEL Power and Gospel Boat Forge Pioneering Agreement to Deliver 1,000 Electric Propulsion Units Over Five Years, Accelerating Marine Industry Innovation.

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VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan 22, 2025--

ACEL Power Inc. has signed a landmark agreement with Gospel Boat, a leading Chinese boat manufacturer known for craftsmanship and innovation, to advance electric propulsion solutions in the marine industry. Gospel, producing 1,400 boats annually—including pontoons, pro-fishers, catamarans, and center cabins—takes a significant step toward sustainability with this partnership.

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Aligned with global zero-emissions initiatives, Gospel has committed to purchasing 1,000 electric propulsion units from ACEL over five years under a binding Letter of Intent.

A Clear Roadmap to Sustainability

Gospel has outlined a plan to electrify its product line, starting with at least 10% of its boats using electric propulsion in the first year and growing to 20% by the fifth year. This initiative reflects Gospel’s commitment to sustainability, meeting the demands of eco-conscious consumers and regulations in Europe, Australia, and North America. The first batch of electric boats is slated for export by mid-2025.

A Vision for a Cleaner Future

“We are excited to partner with ACEL Power to lead this transformation in the marine industry,” said Jack Li, Managing Director of Gospel Boat. “Innovation is the future of boating, and this collaboration is key to redefining sustainable marine experiences worldwide.”

Anthony Liu, CEO of ACEL Power, added, “This partnership highlights our shared commitment to sustainability and innovation. At ACEL, we’re electrifying the marine industry, driving digital transformation, and creating seamless user experiences.”

ACEL Power’s Electric Propulsion Technology

ACEL Power’s Intelligent Electric Series, launched in 2024, includes the IE50 (50HP) and IE75 (75HP) models. These systems feature Electric Outboards, Battery Packs, Intelligent Power Supply, Smart Chargers, Digital Throttles, and Onboard Computers. With 95.8% powertrain efficiency and AC/DC fast-charging capabilities, the system ensures real-time performance monitoring through proprietary software.

About Gospel Boat Builders

Founded in Qingdao, China, Gospel Boat Builders specializes in the design, manufacturing, and export of premium aluminum boats. Dedicated to crafting exceptional vessels, Gospel empowers customers worldwide to create unforgettable experiences on the water.

About ACEL Power

ACEL Power, headquartered in Vancouver, Canada, is a pioneering manufacturer of electric outboard propulsion systems, leading the marine industry in innovation and sustainability. Noted for introducing the world's first mass-produced 50 and 75 HP electric motors, ACEL Power is committed to shaping a sustainable future through the creation of a smart electric eco-system. With a forward-looking vision, ACEL aims to offer a comprehensive range from 1HP to 650HP, establishing new benchmarks for marine propulsion in performance, safety, and longevity. Leveraging patented technology and integrated software solutions, ACEL Power is driving change towards a cleaner, more efficient boating experience.

For more information, visit www.acelpower.com.

Watch ACEL's electric outboard motors in action: https://www.youtube.com/watch?v=9rQU2OeNGXk&ab_channel=TwoGuysandaRide

View source version on businesswire.com:https://www.businesswire.com/news/home/20250122475332/en/

CONTACT: Media Inquiries:

Gospel Boat Builders

Email:[email protected]

ACEL Power Inc.

Natasha Chawla, VP Sales & Marketing

Email:[email protected]

KEYWORD: UNITED STATES NORTH AMERICA CANADA

INDUSTRY KEYWORD: HARDWARE GREEN TECHNOLOGY MANUFACTURING SUSTAINABILITY TECHNOLOGY FINANCE PROFESSIONAL SERVICES BATTERIES OTHER TRANSPORT ENVIRONMENT MARITIME TRANSPORT OTHER TECHNOLOGY OTHER MANUFACTURING SOFTWARE

SOURCE: ACEL Power Inc.

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PUB: 01/22/2025 02:00 PM/DISC: 01/22/2025 02:00 PM

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