In line with its strategic growth agenda, Caverton is actively repositioning its marine and aviation divisions, entering into a groundbreaking strategic partnership with a Chinese electric marine engine manufacturer known as Explomar.
A statement from the Lagos-based firm disclosed that this collaboration aims to develop Nigeria’s first all-electric OMIBUS ferry, pioneering sustainable marine transportation in the region.
Additionally, Caverton is advancing several other innovative boat-building and design projects, leveraging cutting-edge technology and sustainable practices to enhance its marine fleet and capabilities.
Also, the company is refining its charter business while expanding its maintenance and training business units.
It recently diversified into unmanned aerial vehicles (UAVs), opening new avenues for innovative aerial solutions in the oil and gas, security, and logistics sectors.
“Our collaboration with Explomar marks a significant milestone in our commitment to innovation and sustainability.
“Developing Nigeria’s first all-electric ferry exemplifies our dedication to environmentally responsible solutions that will revolutionize maritime transportation.
“This project, along with other vessel design initiatives, positions Caverton as a leader in green maritime technology in Africa,” the chief executive of Caverton, Mr Bode Makanjuola, stated.
Last week, Caverton filed its financial statements for the first half of the year ended June 30, 2025, to the Nigerian Exchange (NGX) Limited, though its revenue slipped to N16.1 billion from the N18.8 billion recorded in the same period of 2024.
However, the organisation bounced back into profitability after it declared a Profit Before Tax of M2.1 billion compared with the loss before tax of N3.7 billion declared in the first six months of last year.