Pure Watercraft Acquires ELUX Marine to Expand Electric Boating Operations in Upper Midwest

SEATTLE and MAYER, Minn., Jan. 5, 2021 /PRNewswire/ -- Pure Watercraft, the electric boating technology leader, has acquired ELUX Marine, the top Minnesota electric luxury pontoon boat manufacturer. The equity-based transaction combines ELUX's expertise in the lucrative Upper Midwest boating market with Pure Watercraft's industry-best electric outboard motors and complete electric boats.

ELUX Marine was founded in 2017 by Howard Root, a former medical device entrepreneur and lifetime Minnesota boater, and Bart Jones, a Minnesota boat craftsman. "Our mission at ELUX was to build a small, but focused electric boat manufacturer that would redefine the Minnesota pontoon experience," said Root. "But as we introduced our Stealth and Breeze electric pontoons and saw the potential of electric boating, we knew we couldn't stop there. We needed to scale. In meeting Pure Watercraft, we found a team that shared our passion to deliver boating that's emissions-free, maintenance-free, and gas-free. Last summer, we field-tested Pure's proprietary electric outboard technology and concluded that Pure Watercraft is the company to lead the recreational electric boat revolution. Both Bart and I, along with the entire ELUX team, are thrilled to join forces with Pure to bring large-scale, high-performance electric boating to the waters ELUX knows and loves."

Starting with the 2021 model year, ELUX will focus exclusively on the launch of Pure Watercraft's electric boat products in the Upper Midwest market. This business combination gives Pure Watercraft an immediate presence in the nation's largest per capita boating market. Minnesotans spent $924 million on boats in 2019 (up 6.5% from the prior year) and Minnesota boat-related spending has increased each year this past decade.

"As we begin our 2021 launch year, we know we need to be close to our customers," said Pure Watercraft CEO Andy Rebele. "By acquiring ELUX, we connect to a key boating market with a team that has established itself as a leader in launching electric boats."

About Pure Watercraft
Pure Watercraft is leading a fundamental transformation of boating. Founded in April 2011 in Seattle, WA, the company delivers innovations that make boating more enjoyable and accessible for everyone, and more sustainable for the planet. To pre-order the Pure Outboard or an integrated boat package, or for more information on products and career opportunities, please visit www.purewatercraft.com

About ELUX Marine
ELUX Marine's mission is to redefine the pontoon experience by using the clean power of electricity to lead the next generation of enjoyment on the water. Founded in 2017 in Mayer, MN, ELUX developed, manufactured and sold its Stealth and Breeze electric pontoon boats directly to boating customers principally in the Upper Midwest.

SOURCE Pure Watercraft

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