Sharrow Marine – a subsidiary of Sharrow Engineering LLC, a leading manufacturer of revolutionary propellers for boats and ships – recently announced the successful completion of over $30 million series of debt and equity financings. This milestone was led by the family offices of John H. McFadden, Esq. and David Dolby, director of Dolby Laboratories and CEO of Dolby Family Ventures. And the company plans to use the funds to accelerate its growth plans and to continue developing innovative propeller technology for the marine and aeronautical industries.
The Sharrow Propeller, a revolutionary patented technology, garnered widespread attention for its innovative design, offering some of the most significant fuel efficiency and performance improvements the boating industry has ever seen. And Sharrow Marine’s achievements were recognized at the 2020 Miami International Boat Show where the company’s flagship product the Sharrow MX Propeller won the coveted NMMA Innovation Awards. The Sharrow Propeller is currently available for all major outboard manufacturers: Yamaha, Mercury, Honda, Evinrude, Suzuki, Johnson, Nissan, OXE, and COX.
Sharrow Engineering, LLC, is known as a nautical and aeronautical engineering company dedicated to the research and development of revolutionary high-performance propulsion technologies for the maritime and aeronautical industries. And Sharrow Engineering is the parent company for Sharrow Marine, LLC, and Sharrow Commercial Marine, LLC. The company offices are based in Detroit, MI and Sharrow Engineering has assembled a team of the world’s top aeronautical, nautical, aerospace, and mechanical engineers to assist with the company’s core mission to reinvent the methodologies and technologies used for propulsion in the 21st century.
KEY QUOTES:
“We are thrilled to have secured financing from McFadden and Dolby, distinguished investors with a remarkable track record of supporting innovative companies and technologies. This funding empowers Sharrow to further invest in our technology, manufacturing capacity, expand our sales and marketing efforts, and ultimately, deliver unparalleled propeller solutions to our valued customers. With this support, we’re positioned to complete significant licensing arrangements to further penetrate new and existing markets.”
— Greg Sharrow, CEO of Sharrow Engineering
“We are excited to partner with Sharrow Marine and support their mission of creating more sustainable and efficient propulsion systems for boats and ships. We believe in the team’s vision and are confident in their ability to drive innovation in the marine industry.”
— John McFadden
“Sharrow Marine has already made significant strides in the market, having secured partnerships with leading marine manufacturers and operators. The funding enables the company to expand its manufacturing capacity and accelerate its growth trajectory.”
— David Dolby
