E1 raceboat series in Monaco this weekend as blue economy startups present to VIP audience

Monaco is set to host the next round of a championship battle this weekend as E1, the world’s first all-electric raceboat series, returns to the Principality’s waters.

Returning to Port Hercule, the E1 RaceBirds will again fly over the water, offering fans an up-close view of the skill and strategy demonstrated by the nine teams and their 18 pilots.

The E1 Monaco race coincides with the twentieth anniversary celebrations of the reign of Prince Albert II. As a long-time champion of marine sustainability, E1 says the Prince’s vision aligns with its mission to raise awareness of ocean preservation and conservation.

As a leader in the transition towards electric marine mobility, Monaco continues to play a key role in shaping the future of the sport both on and off the water. Working with MonacoTech, the Principality’s technology incubator, E1 founder and CEO Rodi Basso has invited three Monaco-based cleantech start-ups that focus on the Blue Economy and marine electrification to speak to an E1 Ocean Club VIP audience as part of the championship’s thought leadership Blue Impact Dialogues.

A company is generally considered a startup for three to five years after its founding. However, the label depends on more than just age, with factors such as stability, profitability, funding, team size and growth / scaling all feeding into the mix. The companies selected by E1 include cleaning products, digital training and marine bio-tech.

Washdown offers high-performance, science-backed, eco-friendly cleaning products (like pH-neutral, biotechnology-based sprays) aimed at luxury environments such as yachts. It was founded in 2022. Read MIN‘s 2023 interview with Leah Tennant at SIBS.

Monaco-based ETYC provides digital tools, training, coaching and environmental audits to support sustainability aboard luxury yachts and cruise vessels. Its platform helps crews monitor and reduce onboard environmental impact. The company was founded in 2019, beginning as a sustainability training and coaching startup.

Coraliotech is a marine biotechnology startup (again in Monaco). It develops eco-responsible active ingredients derived from coral – without harming the reefs – for cosmetics and human health applications. The company officially registered as a company in September 2018.

“Monaco remains the ideal place to showcase the future of electric racing and technology on water,” says Basso. “As we continue our mission to accelerate and promote sustainable innovation in marine mobility, we are proud to showcase three Monegasque cleantech start-ups alongside putting on what promises to be an exciting race for fans.”

Three races remain of the 2025 UIM E1 World Championship presented by PIF, so the E1 Monaco race could prove pivotal. A win at the weekend could be the difference between title glory and heartbreak on the road to be crowned Champions of the Water in Miami in November.

Monaco is the final European stop of the season before the teams head to Lagos for the first time. The season will conclude with a finale in Miami to crown 2025 Champions of the Water.

The championship sees teams featuring both a male and female pilot. Racing on the water in iconic cities around the world like Jeddah, Doha, Monaco and Miami, teams are owned by some big names. These include Will Smith, Marc Anthony and Steve Aoki from the world of entertainment, LeBron James, Rafael Nadal, Tom Brady, Virat Kohli and Didier Drogba from the world of sport and Marcelo Claure from the world of business.