Correct Craft Acquires Electric Boat Drive System–Pleasurecraft Engine Group Prepares for the Future

ORLANDO, FL (July 25, 2018) — Today, Correct Craft announced its newest acquisition, an electric boat drive system, Ingenity P220, that originated in Austria. The acquisition is a result of Correct Craft’s Watershed Innovations initiative and will help prepare Correct Craft’s Pleasurecraft Engine Group and the company’s boat brands for the inevitable future beyond internal combustion engines.

Previously built by Ortner Electric in Villach, Austria, the Ingenity P220 is the highest performing electric towboat propulsion system in the world. The significant demand in Austria for the Ingenity P220 positions the system well for substantial international growth.

The Ingenity P220 is available in the Super Air Nautique 210 and GS20 models in Austria and will soon be available in these models worldwide. Additionally, the Ingenity P220 will eventually be available in more Nautique models and other Correct Craft boat building brands.

Pleasurecraft Engine Group engineers have been involved in the evaluation of the system and will continue to provide insight and support as they work toward its future development with the team from Correct Craft’s Watershed Innovations.

Bill Yeargin, president and CEO of Correct Craft, stated, “The world is quickly transitioning to electric power and the acquisition of the Ingenity P220 system will help position Correct Craft, Pleasurecraft Engine Group, and our boat companies for a successful transition to the future. I am thrilled we could complete this important acquisition.”

Yeargin added, “A few months ago, when Correct Craft kicked off our Watershed Innovations initiative, electric propulsion was one of many items on our list to address. The Watershed Innovations team is taking on all these projects to help prepare Correct Craft and our companies for the future. The future is bright but will undoubtedly be a lot different than today, so we are working hard to prepare our Correct Craft companies for these inevitable changes.”

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