ENVGO NV1: A Bold Statement for High-Performance Electric Foiling at TIBS

ENVGO used the Toronto International Boat Show (TIBS) to make a clear statement about where the electric-marine sector is heading. Their official North American launch of the NV1 wasn’t framed as a speculative technology demo but as a confident entry into the market, aimed at showing that high-performance electric foiling is ready for prime time. The NV1 arrived not as a prototype surrounded by caveats, but as a product intended to move electric boating forward in a way the broader industry has been waiting for.

Built on Deep Expertise

The company’s story is a strong part of that momentum. Founded in 2021 by Mike Peasgood and a team with deep roots in Aeryon Labs—the Ontario drone company later acquired by Forward-Looking Infrared (FLIR)—the group brings real experience in mechatronics, flight control systems, and the discipline required to ship complex hardware.

This background gives them credibility when they talk about integrated design. To ENVGO, the NV1 isn’t an electric boat with add-on foils; it’s a complete system where hull, foils, propulsion, sensing, and software are developed together. That holistic approach is exactly what the electric-marine sector needs as it matures beyond early experimental craft.

Backed by Strategic Investment

Investor interest has followed that narrative. ENVGO raised a US$2M seed round led by Two Small Fish Ventures, with participation from Garage Capital. These investors tend to back teams who blend hardware, software, and data into scalable platforms, and their involvement gives ENVGO the runway to push production, expand partnerships, and support builders who may want to adopt the company’s technology. This matters because a strong ecosystem accelerates progress for the entire sector.

Institutional Recognition

TIBS also offered ENVGO more than a product stage. Their booth hosted Ontario Premier Doug Ford for a photo and conversation about building clean-tech manufacturing in the province. Regardless of politics, the visibility matters. It signals institutional interest in electric marine innovation and reinforces the idea that Ontario can become a hub for advanced boatbuilding and water-transport technology. The electric-marine community benefits every time a government leader pays attention to this space.

The NV1: Performance by the Numbers

Then there’s the NV1 itself. The boat is positioned as a performance-class hydrofoiling electric runabout with numbers that represent a tangible step forward in consumer-ready electrification.

Key performance specifications include:

• Battery: 80 kWh system
• Peak Motor Output: ~245 kW
• Continuous Power: ~125 kW
• Top Speed: 43 knots
• Cruising Speed: 22 knots
• Reported Range: Approximately 74 miles

These figures place the NV1 in territory normally dominated by gas-powered performance boats. Foiling lets ENVGO turn stored energy into speed and reach in a way that aligns with the sector’s goal: achieve meaningful range without giant batteries or heavy compromises.

Practicality Meets Innovation

The integrated foils and approximately 25-foot length point to a boat meant for real-world use on lakes and coastal waters. With foils stowed, it is suitable for most marinas, ramps, and lifts in regions like Ontario, BC, the Pacific Northwest, and the Great Lakes. This kind of practicality is essential for widespread adoption of new electric technologies. When a boat fits into existing boating patterns, adoption grows.

Intelligence Under the Hood

ENVGO placed particular emphasis on their control system, described as an AI co-pilot that manages stability, lift, docking assist, collision awareness, and energy planning. For electric boats, intelligent control is as important as raw battery capacity. It helps new owners feel confident, reduces mistakes that shorten range, and keeps operation smooth. A more accessible foiling experience supports the broader sector by making advanced electric boats easier to drive, enjoy, and maintain.

A Lift for the Entire Category

All of this adds up to a moment that lifts the whole category. The electric-marine industry thrives when strong companies push boundaries with products that are innovative but still grounded in the realities of ownership and manufacturing. ENVGO’s NV1 brings attention, investor confidence, engineering credibility, and a clear example of what modern electric boats can achieve when performance, efficiency, and user experience are developed as one system.

For readers of the eBoat News, ENVGO’s launch is encouraging. It shows that electric boating is maturing into a phase defined by purpose-built platforms, meaningful range, and design that welcomes everyday boaters—not only early adopters. It signals that Ontario, and Canada more broadly, can play a real role in advancing the next generation of marine technology. The NV1 gives the sector a boost of energy and optimism at exactly the moment electric propulsion is moving toward mainstream expectations.