Flux Marine Taps Former Mercury Exec
Electric outboard maker Flux Marine has appointed Gary Lancina, former strategy chief at industry giant Mercury Marine, to its advisory board. The move signals the company's ambition to scale its electric marine technology globally.
The global electric outboard engine market was valued at over $910 million in 2024 and is projected to grow, with some estimates reaching $1.64 billion by 2034. This growth is driven by increasing environmental regulations and a rising demand for eco-friendly recreational boating. Flux Marine, founded in 2018, has positioned itself as a key player in this expanding market, having delivered more high-voltage electric outboards in North America over the last 18 months than any other company. The Bristol, Rhode Island-based company has raised over $30 million in funding since 2020. The company's technology is the result of nearly a decade of research and development that began as a Princeton University engineering project led by CEO Ben Sorkin. Flux Marine designs its electric propulsion systems from the ground up, rather than retrofitting electric vehicle components. Gary Lancina is recognized for his significant contributions to growth at Mercury Marine, a major player in the traditional outboard motor industry, where his strategies reportedly drove $1 billion in revenue growth. His experience also includes scaling Redbox by $650 million in just three years. Lancina's appointment signals Flux Marine's strategic shift from a focus on engineering and development to a more aggressive sales and marketing phase. The company is now aiming to translate its technological lead into greater market share and build a global brand. Flux Marine has already established partnerships with several boat builders, including Scout Boats, Highfield, and Zodiac, to integrate its modular electric powertrain and battery architecture across a variety of boat hulls. The company has fully commercialized a 115-horsepower electric outboard and a modular battery pack. Its product line also includes 15HP, 40HP, and 70HP models. This move comes as the recreational boating segment continues to dominate the electric outboard market, accounting for over 76% of the market share in 2024. The push for electrification is also supported by the fact that marine activities contribute to nearly 15% of coastal water pollution.
