We're building a fleet of solar-powered logistics ships.
Clean, self-sufficient vessels that carry cargo across the open ocean on sunlight alone.
Connecting the 500 million people who live on islands and remote shores with logistics that are clean, reliable and cheap.
Check out what we're building
That code isn’t right. Try again.
The case, in short
A 15 m solar boat carrying 4 tonnes — cheaper than the diesel boats islanders rely on, on free sunlight.
1 · The problem
Island freight is brutally expensive
20–30% of an item's cost (vs ~8% on the mainland) — mostly diesel.
2 · Cost edge
Same crew, upkeep and capital as a diesel boat — minus the fuel.
.png)
3 · Unit economics
What each boat earns
The numbers
We charge 10% below diesel; our ~$23/t cost is far lower, so we keep the gap. One boat moves ~880 t/yr.
| Revenue / boat / yr | ~$48k |
|---|---|
| Profit / boat / yr | ~$33k |
| Payback on the $50k boat | ~1.5 yr |
| Cash costs (crew, upkeep, insurance — $0 fuel) | ~$15k |
4 · At scale
Each $50k boat adds ~$33k a year.
By region
Price to village, ~10% under diesel.
| Region | Route | Diesel | Ours | Profit/yr |
|---|---|---|---|---|
| Indonesia | Makassar – Spermonde | $60 | $54 | ~$33k |
| Philippines | Cebu – Camotes | $55 | $49 | ~$29k |
| Malaysia | Semporna archipelago | $50 | $45 | ~$25k |
| Mediterranean | Naxos – Small Cyclades | $75 | $68 | ~$37k |
| Caribbean | St Vincent – Grenadines | $85 | $77 | ~$45k |
5 · Who we serve
Two buyers — both already paying for these routes.
Governments & lenders (ADB, World Bank, Greece, Indonesia already fund these routes) and islanders & business who pay freight directly and feel every hike.
Government budgets
| Spain — Baleares & Canarias | ~€1.5B |
|---|---|
| Italy — Bay of Naples PSO | ~€97M |
| Malaysia — Sabah/Sarawak | ~RM250M |
| Indonesia — Tol Laut | ~$33M |
| Greece — island transport | ~€22M |
| Bahamas — mailboat | >$12M |
Why downtime won't break us
A boat out of service — weather, repairs or a slow week — never threatens the business: cheap redundancy, contracted revenue, and a low break-even.
The stress test
Break-even at about one-third of planned volume.
De-risking downtime
Cheap redundancy, contracted revenue, a low break-even.
Six ways we de-risk
- Redundancy, not big bets — cheap $50k boats; one hull down, cargo shifts to the next.
- Contracted revenue — government franchise / PSO pays for the service, not just per-tonne.
- Weather-chosen routes — only protected archipelago waters, picked for year-round passability.
- Battery & shore buffer — oversized packs run before dawn, after dusk and through cloud.
- Simple drivetrain — electric motor, far fewer parts; less breakdown, cheaper repairs.
- Fast payback — ~1.5-yr payback; spare hulls and parts cheap to pre-position.
Idle sunlight → revenue
Surplus solar mines crypto when shipping is soft.
.png)
Hardware & caveats
When shipping is soft the solar doesn't sit idle — two onboard Equihash ASICs turn surplus sunlight into crypto. ~92 kWh/day of solar covers the ~72 kWh the pair draws, so it earns most exactly when shipping is slow.
| Two ASIC miners (840 kh/s, ~3 kW) | $6k |
|---|---|
| Gross at full run on free solar* | ~$40/day |
| Counter-cyclical revenue floor | ~$7–15k/yr |
We treat it as a hedge, not core revenue: mining income is volatile, and marine heat, ASIC depreciation and crypto regulation are real — all manageable for a small, fast-written-off bonus stream.
Revenue scenarios
Even the downside clears the ~$15k cash cost.
How the scenarios are built
Probability-weighted, that's ~$54k revenue per boat per year. Downside (35% likely) assumes weak demand and modest mining; reach (20%) assumes full routes plus strong mining.
Capital & battery
Debt- and lease-financed, with the battery pre-funded.
Battery economics & financing
| 100 kWh LFP pack — the one big wear item* | ~$15–18k |
|---|---|
| Sinking fund reserved from day one | ~$2.5k/yr |
| Pack cost recovered via second-life resale* | ~30–40% |
- Asset-backed, not dilutive — debt, dev-finance and lease-to-own inside per-region SPVs.
- Battery reserve from day one — ~$2.5k/yr accrued so the year-6 swap is pre-funded.
- Long cycle life — LFP 3,000–6,000 cycles; first pack lasts 6–8 yrs.
- Second-life resale — retired pack keeps ~70–80% capacity for stationary use.
- 10-year TCO is funded — capex, cash cost and pack swap all in the model.
- Standardised, refinanceable — uniform fleet is easy to refinance as the record builds.
Assumptions & sources
Researched estimates for an early private model, not quotes — boat, maintenance and solar costs are real; crew, utilisation, distances, market rates, mining and battery figures are illustrative and move with prices. *Battery / resale figures assume a 100 kWh LFP pack at ~$150–180/kWh, 3,000–6,000-cycle life.
Sources: ECLAC / World Bank LPI 2024; UNCTAD; Ship & Bunker 2026; Sustainable Ships & Kongsberg Maritime 2025; Fiji Times 2024. Government spend: Spain Min. de Transportes, EU Commission 2024, Malaysia KPDN, Indonesia Tol Laut, Greece, Bahamas Min. of Transport 2025/26, MARINA LAYAG 2026, CalMac / Scottish Government, ADB.