BanyanTree has invested in Navalt Green Mobility, India's leading electric boat manufacturer, to support its growth and enhance sustainable maritime transport solutions.

Information on the Target

Navalt Green Mobility Private Limited, located in Kochi, India, is a leading innovator in the design and manufacturing of electric vessels. Headed by naval architect Sandith Thandasherry, the company has established itself as a pioneer in solar-electric and hybrid maritime solutions, responding to the growing demand for environmentally sustainable transport options. Navalt's flagship product, the Aditya, holds the distinction of being India’s first solar-electric ferry, which was recognized with the Gustave Trouvé Award for Best Electric Ferry in the World in 2020.

Navalt has developed a profitable and capital-efficient business model that benefits from government-supported research and development initiatives and early-stage funding from the Shell Foundation. As a result, the company is positioned to leverage India’s competitive manufacturing ecosystem to scale its operations and establish a significant footprint in the global electric maritime mobility market.

Industry Overview in India

The electric and hybrid vessel industry in India is witnessing remarkable growth due to an increasing focus on clean energy and sustainable practices. The Indian government has implemented various policies and inc