Crown Electric Ships and Boats, Middle East's First Electric Ship Building Company, Receives Investment Valuing Company at USD $55 Million

Dubai, United Arab Emirates--(Newsfile Corp. - July 6, 2023) - In a significant boost to the sustainable maritime transportation industry, Crown Electric Ships and Boats, UAE's first electric ship building company, has announced a substantial investment by BLKSIX, a New York City and Miami-based firm focused on global energy, commodity, and special situation investment opportunities.

Investment Meet of Electric Ship Building Company

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BLKSIX's capital commitment values Crown Ships at an impressive USD $55 million and furthers the company's position as a global leader and innovator developing cutting-edge electric ships that contribute to a greener future. With its headquarters located in the UAE, Crown Ships has strategically positioned itself at the forefront of the Middle East's burgeoning maritime industry.

"We are delighted to join forces with Crown Ships and embark on a journey with such an exceptional, trailblazing team," said BLKSIX. "This next phase of growth will further the company's innovation and its undisputed leadership role in the emerging green maritime transportation space."

Mr. Sonu Jayachandran, Chairman of Crown Ships, expressed his gratitude for the partnership and remarked, "We are thrilled to have BLKSIX onboard. This investment not only reinforces our financial strength and research efforts but also validates our company's bold voyage over the past years and into a greener future - building the world's best electric ships. This injection of capital will bolster our growth strategy of enhancing our manufacturing facilities, augmenting our research and development teams, and exploring new consumer partnerships."

With maritime transportation releasing over 1,000 metric tons of CO2 into the atmosphere each year, and numerous research studies indicating that amount could more than double or triple over the next 30 years as nations keep undergoing socio-economic development, Crown Ships finds itself in a prime position to make a lasting impact.

As global demand for eco-friendly transportation options continues to soar, Crown Ships has solidified its position as a pivotal frontrunner to shape the cutting-edge future of electric ships and boats and meet the demands of a rapidly evolving market.

Contact Details:Name: Moukthika EmaniEmail: info@crownships.com^[2]Location: Dubai, UAECompany: Crown Electric Ships and Boats

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References

1. ^{^} https://images.newsfilecorp.com/files/8717/172498_8022568c74364baf_001full.jpg (images.newsfilecorp.com)
2. ^{^} info@crownships.com (www.newsfilecorp.com)
3. ^{^} https://www.newsfilecorp.com/release/172498 (api.newsfilecorp.com)