Leading mid-market private equity firm BanyanTree has announced a strategic investment in Navalt Solar & Electric Boats, India’s pioneer in solar-electric maritime transport. The investment will support Navalt’s expansion in manufacturing, R&D, and global exports, strengthening its leadership in sustainable marine mobility.
Navalt has built a profitable, technology-driven platform with minimal capital, backed by government research initiatives and early support from the Shell Foundation. With India’s competitive manufacturing edge, the company is poised to become a global leader in electric water transport.
Navalt’s solar-electric vessels have already carried over 5.5 million passengers, reducing 2,453 tonnes of CO₂ and saving 992 tonnes of fuel. Its flagship ferry Aditya was named the world’s best ferry in 2020. The company’s innovations deliver up to $1.2 million in lifecycle savings per vessel, with operating costs as low as $662 annually — a fraction of diesel alternatives.
Founded by naval architect Sandith Thandasherry, Navalt leads the Indian market in electric boats and is rapidly expanding its international footprint.