EN - An Investment Banker on the Wrong Path
Benjamin Köhnsen, born in 1978 in Hamburg, employed as an investment banker and M&A analyst,
is working on his first electric jetboard as a hobby. During the test ride in the summer
In 2009, the performance is still capable of being improved and after only nine meters it is over for now:
Total loss due to water ingress.

An investment banker on the wrong path
Benjamin Köhnsen, born in 1978 in Hamburg, employed as an investment banker and M&A analyst,
is working on his first electric jetboard as a hobby. During the test ride in the summer
In 2009, the performance is still capable of being improved and after only nine meters it is over for now:
Total loss due to water ingress.

The second prototype, financed by the M&A analyst’s bonus, reaches a speed
of approx. 15 km/h.

The first foundation
Köhnsen quits his job and founds with Raphael Homölle and Dr. Ing. Olaf Jacobsen
and two other investors with 115 T€ equity capital, Sashay GmbH with the purpose of producing electrical
to develop, produce and sell powered jetboards.

As early as summer 2012, the first electrically powered jetboard will be delivered to a dealer on
Mallorca in the port of Port Adriano. The dealer sells after a call to a customer
the board further.

Invention of the Lampuga brand.

Fundraising and further development of the product, especially the development of the Lampuga Air. A power box with an inflatable fuselage allows for the replacement of the fuselage and smaller packaging dimensions. MBG Schleswig-Holstein is involved with a silent
Participation (later in 2020, MBG Schleswig-Holstein will participate in Jetworx GmbH).

Carsten Höltig, current managing director of Jetworx GmbH, is working at Sashay GmbH on the Lampuga stand at the leading trade fair boot Düsseldorf and decides to accept the job offer at Sashay GmbH immediately after the trade fair.
A crowdfunding campaign via the Seedmatch portal is running successfully. Production can
At its peak in summer 2016, around 30 boards per month will be produced and sold at a price of around €12,000 each. A total of around 400 boards will be produced and
sold. Some problems arise from the complex production of carbon boards and the high material costs.

Technical problems with the engine cause quality problems and high costs.
Entry of another investor and partial sale of shares of the co-founders and investors.

Insolvency of Sashay GmbH
The investor, who joined in 2016, terminated a loan, and shortly thereafter, Sashay GmbH was forced to file for insolvency. The same investor acquired parts of the insolvency estate and continued to operate the Lampuga brand in Rastatt. The Lampuga product was further developed and remains part of the
Jetboard market.

Let's do it again!
Several employees and numerous investors of the insolvent Sashay GmbH founded CURF
Technologie GmbH with the aim of developing a robust jetboard that is easy to produce.
Carsten Höltig, a former employee of Sashay GmbH, becomes a shareholder and develops and sells the new product. Markus Zey, current shareholder of Jetworx GmbH, becomes an employee and develops and produces the jetboards.

Split
The product, with two batteries, is the world's most powerful jetboard. Unfortunately, it has become somewhat heavy and unwieldy. Some of the shareholders want to increase sales activities to better sell the product. Another group of shareholders, led by Carsten Höltig,
However, the company wants to further develop the product. For this reason, Carsten Höltig and the shareholders, who share a similar view, are being bought out.

Rebirth: The new team comes together
Carsten Höltig, Holger Daum, Jennifer Köhnsen and the bought-out shareholders founded
On December 19, 2019, Jetworx GmbH was founded. Two of the investors were already involved in Sashay GmbH and have accompanied the entire development through its ups and downs. Among them was Dr. Lutz Kaiser, the first German customer of a Lampuga board. The goal of Jetworx GmbH is to develop a product that
That has as much power as the CURF board of the time, yet is significantly lighter and, above all, easier to carry and store. From this idea, mo-jet was developed.
The unique selling point: it is a modular system.
After giving up his job as an investment banker, Benjamin Köhnsen works
He worked as a designer in the engineering office of 3D Pro in Hamburg. Later he was hired by the newly
employed by Jetworx GmbH, founded in 1999.

The important boat show boot in Düsseldorf in January 2020 will not be attended. The Jetworx team has decided to present the product only when it is ready.
The lockdown and the funding have proved to be positive for Jetworx, as the company is fully focused on product development. Several patents are filed during this phase.
and the body – the so-called dive – is being developed. To the delight of the founders and investors, MBG Schleswig-Holstein, which was already involved in Sashay GmbH, is also joining Jetworx GmbH. The fact that a public financing institution is investing in a team for the second time
Investing in a company that has previously failed is unusual.

Divide and conquer: Two batteries, half the charging time, double the rental

Setbacks in development marked a long, tough year. The 17 kg battery became too hot in the summer due to the board's high performance. A new solution was needed.
decided to use a dual battery system. This is a risk, as it will make market entry
is pushed back further. However, the decision proves to be the right one: The batteries
weigh only 8.4 kg and are easy to carry. Charging time has also been halved, as
Each battery can be charged using a power outlet. As part of this new development, the cooling system is also being improved, and the batteries are now liquid-cooled. With this cooling system, the battery can be charged in 45 minutes after use without any thermal problems. As will later become apparent, this turns out to be a major advantage in rentals, as the product can be rented out ten times a day with two sets of batteries.

Shareholder base continues to grow
At the end of the year, a – in the best sense –
Motorsport-mad Platz, who was immediately enthusiastic about the mo-jet idea. A few weeks later
The patient and a friend invest in mo-jet. The circle of shareholders grows
further on.

Technical development
The product impresses with its performance, handling, and price. With a small series of 20 boards, some with printed parts, the product will be further developed and
be optimized. Additional investors are acquired, the patent portfolio is expanded, tools can be manufactured, and production can be further simplified. The most important
Insight: Apart from teething problems that occur in the development of such a complex product
are unavoidable, the mo-jet is reliable and, in the founders' view, far superior to the competition.

mo-jet presents its products at the boot trade fair in Düsseldorf. A customer who purchases one of our products there invests a significant amount in the company – and
even before he had ridden the board he had bought.
After years of development, Jetworx GmbH now wants to finally produce the product,
However, due to a supplier error, production was slowed down. Production cannot begin until July 2023. While waiting, the team is doing what it does best: continuing development. Benjamin Köhnsen and Markus Zey have the idea of ​​building an adapter that can be integrated into a
Inflatable product (inflatable product). Thus, with the mo-jet, a boat
powered. After the first test drive, it was already clear that the mo-jet tender boat had to be built.
The handling characteristics are outstanding. Without a freely rotating propeller, the jet helps the boat
The high performance, the good cooling system and the modularity make
now paid.
Mo-jet is being presented in Hong Kong, Florida, Turkey, and Europe. Customers are enthusiastic about it. The bodyboard, in particular, is a lot of fun due to its tremendous acceleration.

In March, Benjamin Köhnsen presented the mo-jet Wake and Dive products to a dealer for the first time. Since then, the dealer has been renting both watercraft at La Reserva in Sotogrande.
The mo-jet story is far from over… Stay tuned for more!