Brunswick Corporation completes another investment in Sea Machines Robotics

Rhea-AI Summary

Brunswick Corporation (NYSE: BC) has completed a second investment in Sea Machines Robotics, focusing on autonomous technology for commercial vessels. The collaboration, which began with an initial investment in 2018, aims to enhance safety and performance in the marine industry. Brunswick's President, Brenna Preisser, highlighted that this investment aligns with their ACES strategy and future capabilities in boating experiences. Sea Machines has secured significant contracts, indicating growth potential in both commercial and recreational marine automation.

Positive

• Completed a second investment in Sea Machines Robotics, enhancing strategic partnerships.
• Aligns with Brunswick's ACES strategy, focusing on autonomy in marine technology.
• Sea Machines has secured significant contracts, indicating strong market presence.

Negative

• None.

METTAWA, Ill., Oct. 28, 2020 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC) announced today that it has completed a second investment in Sea Machines Robotics, Inc., a Boston-based autonomous technology company that specializes in advanced control technology for workboats and other commercial surface vessels. Details of the investment were not disclosed.

Brunswick made an initial investment in 2018 through its joint venture with Chicago-based TechNexus Venture Collaborative.  Over the past two years, both Brunswick and Sea Machines have been committed to building autonomous solutions for the marine industry that will enhance operator safety and increase performance for both commercial and recreational applications.

“We believe that strategic investments in early stage technology platforms like Sea Machines allow Brunswick to build on emerging technology trends,” said Brenna Preisser, Brunswick Corporation President - Business Acceleration & Chief People and Strategy Officer. “Autonomy is a core element of our ACES strategy and working together with Sea Machines affords us the opportunity to create new capabilities to enhance the boating experience.”

“We are excited to have Brunswick Corporation as a strategic investor,” said Michael Johnson, Sea Machines CEO.  “Both companies share a common vision to enhance the boating experience and we look forward to our continued relationship with Mercury Marine and Brunswick’s industry leading boat brands.”

Over the past two years, Sea Machines has been awarded several significant contracts including partnerships with DEEP BV in the Netherlands, Metal Shark Boats and the U.S. Department of Defense Innovation Unit.  While the company’s current focus is on the commercial vessels market, the goal is to develop similar automation capabilities in the recreational marine market in the future.

About Brunswick

Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Power Products Integrated Solutions; MotorGuide trolling motors; Attwood, Garelick, and Whale marine parts; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine, and Lankhorst Taselaar marine parts distribution; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, Freedom Boat Club, NAUTIC-ON. For more information, visit https://www.brunswick.com.

About TechNexus Venture Collaborative

TechNexus Venture Collaborative finds, funds and grows technology ventures in partnership with corporations. Through a unique alignment of relationships in the technology ecosystem, we provide a platform to engage ventures, transform business models and ultimately drive innovation. We have done so for dozens of corporate partners and more than 500 startups. Equal parts entrepreneur, strategist, and investor, TechNexus Venture Collaborative Rethinks Growth.  

About Sea Machines
Headquartered in the global tech hub of Boston and operating globally, Sea Machines is a leader in pioneering autonomous control and advanced perception systems for the maritime industry. Founded in 2015, the company builds autonomous vessel software and systems, which increases the safety, efficiency and performance of ships, workboats and commercial vessels. Learn more about Sea Machines at www.sea-machines.com.  

FAQ

What is Brunswick Corporation's recent investment announcement?

Brunswick Corporation announced a second investment in Sea Machines Robotics to enhance marine technology.

How does Brunswick's investment in Sea Machines align with its strategy?

The investment supports Brunswick's ACES strategy, focusing on autonomy and innovation in the boating experience.

What are the implications of Brunswick's investment for shareholders?

The investment may strengthen Brunswick's position in the marine industry by enhancing safety and performance, potentially benefiting shareholders.

What is the significance of Sea Machines' contracts?

Sea Machines has obtained significant contracts, indicating its growth potential in commercial and recreational marine markets.

When did Brunswick Corporation make its initial investment in Sea Machines?

Brunswick made its initial investment in Sea Machines in 2018 through a joint venture.