Pixii, A NEVA Group Brand
We make electric boats with recyclable materials.
- Leisure boat market is worth $41bn, electric marine vehicles market worth $4.2bn expected to double by 2027.
- Early adopters of our Pixii's show market fit (2 sold already).
- Founders steering toward growing maritime electric age.
- 100% Ownership Pixii Ltd, Hippo Commercial Ltd, Lyte Drive Ltd.
The maritime industry contributes 2.5% to global Co2 levels. NEVA Group aims to bring new, sustainable tech to this category and act as a guiding light for the sector while the market grows.
Our founder, Charles Hall, was frustrated by the lack of choice for sustainable leisure boats. This led him to meet NEVA's other co-founders Daniel Simpson & Paul Luscombe.
The leisure boat market is worth around $41bn. The zero carbon portion is valued at around $4.9bn and growing, taking market share from the combustion propulsion market.
NEVA Group Ltd has three subsidiaries:
1.Pixii - currently trading and producing electric leisure boats using recycled materials.
2.Lyte Drive - not yet trading but our mission is for Lyte Drive to redesign electric jet propulsion.
3.Hippo Commercial - not yet trading but our aim is to bring to market and sell electric, commercial boats.
Our business model is to design and sell electric propulsion vessels. We are currently outsourcing the production.
We aim to sell our boats with regional dealers. We also aim to develop synergies with international supercharging partners.
Substantial accomplishments to date
In a year we have:
Sold two Pixii vessels already, with revenue to date of £327k (YE Dec 21 revenue of £263k with profit of £71k)*.
*Revenue figures are based on unaudited management accounts.
We gained £84k in grant funding for our prototype vessels.
We have had articles written about Pixii's SP 800 in Motor boat / Yachting magazines and featured online on maritime industry sites.
We have created and trademarked our brands.
We have built the first vessel which is due to be on the water in Q2 of 2022.
Our second vessel with design upgrades from our first vessel has been designed and is about to go into production.
NEVA generates revenue by designing and selling Pixii electric boats. The sales strategy is to work with international marine dealerships to aid in gaining international market traction and after-sales care. We have an average margin of 40% on our vessels and are competitively priced compared to the current electric boat market.
Use of proceeds
1.Build the team in the sales department
2.Build demo vessels
3.Launch at international events building sales and international brand recognition
More detailed information on use of proceeds can be requested in the Documents section.
Investors in this round are investing into and will become shareholders of NEVA Group Ltd (no.12971363). This is the top company under which there are three wholly owned subsidiaries:
Pixii Ltd 12970614 - currently trading
Hippo Commercial Ltd 13295527 - not yet trading
Lyte Drive Ltd 13319616 - not yet trading
£230K reflected in the round from direct investors isn't eligible for SEIS tax relief. The company has £125K of their SEIS allowance remaining, which means that investments up to £380k will be eligible for SEIS tax relief.
Investments made over £380k will be eligible for EIS tax relief.
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