Mumbai, July 15, 2025 – BanyanTree, a leading mid-market private equity firm, announced today that it has invested in Navalt Solar & Electric Boats, India’s leader in electric boat design and manufacturing company pioneering clean, solar-electric maritime transport; aligned with the country’s energy transition priorities.

Navalt has built a highly profitable and technologically advanced business with very low upfront capital, leveraging government-backed research projects and early-stage catalytic support from the Shell Foundation.

With India’s globally competitive manufacturing cost structure, Navalt is uniquely positioned to emerge as a world leader in electric maritime mobility, offering sustainable and cost-effective alternatives for both domestic and international water transport markets.

BanyanTree’s investment will support Navalt to expand production, deepen its export footprint, and strengthen R&D and vessel design capabilities.

About Navalt

Navalt Group, led by Sandith Thandasherry, a naval architect is India’s leader in electric boat design and manufacturing. It pioneers solar-electric and hybrid ferries as sustainable and efficient alternatives to diesel-powered vessels. The company has the highest base of electric boats in India, with increasing exports contribution.

Navalt’s solar-electric ferries have transported over 5.5 million passengers, eliminated 2,453 tonnes of CO₂ emissions, and saved 992 tonnes of fuel to date. Its flagship vessel Aditya was India’s first solar-electric ferry and won the Gustave Trouvé Award as the world’s best ferry in 2020. Other award-winning products include Srav, a solar fishing boat (2022), and Indra and Barracuda, India’s largest and fastest electric boats, respectively.

Navalt’s solar-electric ferries offer over $1.2 million in lifecycle savings per vessel, with annual operating costs as low as ~$662 versus ~$42,000 for diesel alternatives — making them both environmentally and financially superior.

The company’s technological edge includes proprietary innovations such as MANTA (marine-grade energy storage), MAKO (electric outboard motor), ORCA (advanced steering system), and RAY (LFP battery system). Navalt also leads in lightweight materials (50% lighter than conventional hulls), smart energy optimization (real-time SOC monitoring), and hydrodynamic design (70% lower energy requirement than diesel boats for the same capacity and speed). Its engineering focus ensures superior propulsion efficiency, weight reduction, and system-level safety.

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As Sandith says, "Let's get oceans electrified"