We are excited to announce our investment in Photon Marine based in Portland, OR. Founded in 2021, Photon builds high-performance (300 HP) electric propulsion systems and fleet intelligence software for commercial marine fleets. The company aims to accelerate the marine industry’s transition to sustainable transportation, offering a cleaner, quieter alternative to gasoline and diesel engines.
Marcelino Alvarez, CEO and Co-Founder of Photon, is a Duke University alumnus, an experienced entrepreneur, and a lifelong boater. Our initial meeting with Marcelino was at a Duke event this past winter, where his vision, passion, and expertise immediately stood out to us. In April, we witnessed the technology firsthand during a test ride on a 28′ foil-assisted catamaran. Powered by Photon’s electric motor, the ride was remarkably quiet and smooth—truly a game-changing experience.
Photon is the only U.S.-based player focused on the (electric) commercial high-power niche targeting workboat operators. They have achieved impressive early momentum with over $5M in revenue, and national and international interest. The company has targeted ports, marinas, yacht clubs, water taxis, tourism, and aquaculture as initial customers.
“Photon is a great example of our support for founders who have strong ties to North Carolina. We are delighted to be a part of the company’s journey to electrify commercial harborcraft.”
– Stephanie Simon, Founding Partner, Blueridge Climate Ventures
“We are excited to partner with Blueridge Climate Ventures to help accelerate our growth and strengthen our connection to North Carolina. Along with our batteries being manufactured in state, we are actively building partnerships with boat builders in North Carolina.”
– Marcelino Alvarez, CEO and Co-Founder, Photon Marine
Blueridge Climate Ventures invests in early-stage startups in North Carolina and the surrounding region, and in founders with strong ties to the region. If you would like to invest in great companies like Photon Marine, join our investor network as an angel investor. Contact us to learn more.