Ecomar Propulsion Ltd

Ecomar Propulsion Ltd, based in Fareham, UK, is a small, active company founded five years ago. With seven employees and £612,214 in assets, it's a solo-founded venture led by three directors and one owner. The company operates from a real address and is regularly importing electrical machinery and equipment – 13 months of activity recorded, the latest in August 2024. It also exports optical and medical tools and devices, although less frequently, with just one month of export activity as of November 2022.

The company's website highlights its focus on zero-emission marine propulsion, specializing in electric and hydrogen systems. It researches, develops, and produces high-performance marine engines and energy storage solutions, aiming to reduce maritime greenhouse gas emissions. The site showcases partnerships, awards, and a commitment to sustainability, positioning Ecomar Propulsion as a leader in the evolving marine technology sector. They even have a British Made Award for the second year running.

Financially, Ecomar Propulsion Ltd shows some concerning trends. While current assets increased significantly to £610,000, net assets plummeted 95% to just -£18,000, a very sharp decline. Bank borrowings decreased by 47% to £180,000, and cash reserves fell by nearly half to £47,000. On the positive side, trade debtors increased by 15%, suggesting better customer payments. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the substantial equity loss warrants closer attention. No auditor is mentioned, which is common for small companies.

Overall, Ecomar Propulsion Ltd appears to be a company with ambitious goals in a growing sector, but its financial performance suggests it’s burning through money. The rapid growth in assets, however, could indicate successful sales and new contracts—but it’s important to monitor whether this translates to long-term profitability.

Registered in England/Wales under the registration number 12018439, with a registered address at PO16 8XG, England, Fareham, 32 Standard Way.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.