Marcus Hamilton grew up in New Zealand, immersed in the ocean culture of the island nation. He worked with Fusion Entertainment, which Garmin acquired, allowing him to combine his passions for music and life on the water.
In May 2023, he became CEO of Propspeed, the New Zealand-based maker of protective and anti-fouling coatings. At the time, his resume included more than 10 years of experience in the marine industry, in positions of international marketing manager, vice president of sales and operations Americas and international sales and business improvement director.
Hamilton, now 35 and one of the youngest CEOs in the industry, spoke with Soundings Trade Only about sustainability, being based in New Zealand, how Propspeed is handling the shifting landscape of tariffs, and more.
This interview has been lightly edited for clarity and space.
How did you become involved in the marine industry?
I’ve always had a deep love for the ocean, and growing up in New Zealand, the water has been a central part of my life. Pair that with a passion for music, and I was fortunate to land my first defining role as the international marketing manager at Fusion Entertainment and then work within Garmin after the acquisition of Fusion. It was a pivotal moment in my career — it was the first time I had hired, trained and built a team. Together we launched the Signature Series brand, Apollo Series brand and Fusion University into the market.
After my time with Garmin, I moved to the U.S. to pursue a new challenge as the vice president of sales and operations Americas at Propspeed. It meant leaving behind everything familiar in New Zealand and building a new life from the ground up. Embracing the unknown sparked significant growth in me — building resilience, deepening my drive, and helping shape me into the leader I evolved into today.
Before stepping into the role of CEO, I served as the international sales and business improvement director for Propspeed, a role that expanded my strategic capabilities and prepared me for broader organizational leadership. When the opportunity to step into the CEO position emerged, it was a moment of strong alignment and clear intention.
Do some people perceive you as young to be leading an international corporation?
While I recognize that some may initially perceive my age as relatively young for this level of leadership, I believe the results I have achieved and the trust I have built speak louder than perception.
Broadly speaking, being younger has its advantages — I have a curious mindset that sees every experience and person as a teacher, the energy and drive to operate comfortably in a high-paced agile environment, and the capacity to travel internationally 100-plus days a year, just to name a few.
I would say that in business leadership, wisdom isn’t measured by age. It’s earned through experience that comes from facing complex challenges, learning from both success and failure, and staying resilient through setbacks. True leaders grow by seeking feedback, remaining curious, checking their ego at the door, and standing firm on values like integrity and long-term vision. Wisdom is built not by time alone, but by intensity, diversity and reflection of life.
What’s the history of Propspeed as a company?
Propspeed’s story began in 1999 with a passionate fisherman, an entrepreneurial spirit, a paint factory and a problem to solve. Founder Guy Jacobsen was determined to find a solution to protect his running gear from the fouling growing on his sportfishing boat moored in the Bay of Islands, New Zealand. Partnering with a local boat painter, they set about developing what would become the marine industry’s leading foul-release coating system.
As soon as people saw the gold-coated running gear coming out of the water clean from marine growth after a full season on the water, demand grew rapidly. What started as a local solution evolved into a global brand, with Australia being the first international step, and later expanding into the U.S., Europe and beyond.
How long did it take to develop Propspeed’s first product?
It took nearly five years of continuous refinement before being launched to market in 1999. From day one, the founder knew that training applicators on how to apply the product correctly would be pivotal in product adoption and, ultimately, long-term business success. This investment strategy in training remains central to our business model and commitment to our customers to date.
Today, our product portfolio has expanded to four products: Propspeed for running gear and any underwater metals; Foulfree for transducers; Lightspeed for underwater lights; and Stripspeed, a solvent-based paint stripper for underwater metals.
How relevant were environmental concerns to the founding of Propspeed?
Sustainability has been central to the business mission from the very beginning. A deep love for the ocean and a strong personal commitment to protecting it were key drivers behind the creation of the Propspeed product.
At the time, the only options were traditional antifouling coatings — solutions that relied on toxic biocides and were not effective at protecting propellers and running gear. Long before sustainability became a mainstream concern, it was already central to our purpose: to develop a high-performing system that would prevent marine growth while helping to protect the marine environment.
Beyond recreational boating, Propspeed has also been developing its commercial division, Hamilton says. PHOTO COURTESY PROPSPEED
What barriers is Propspeed breaking with its products?
Propspeed’s approach to breaking barriers goes beyond the product itself, as we’re focused on delivering a comprehensive value chain for customers. Our success has come from supporting the marine industry not just with product innovation, but with strong training programs, tools and knowledge that help businesses integrate Propspeed into their operations efficiently and safely.
We’ve addressed industry challenges like skilled-labor shortages, and health and safety requirements, by developing practical solutions such as our application kit, which enables entry-level applicators to achieve high-quality results and experienced applicators to work up to 35% faster.
Additionally, products like Stripspeed have been introduced to improve the removal process, reducing the need for grinding, and minimizing health and safety risks, while also saving valuable labor hours. On the ecological side, we have invested in third-party validation studies to quantify Propspeed’s impact on reducing fuel consumption and associated greenhouse gas emissions. This builds on what hundreds of thousands of boat owners already know from experience and strengthens Propspeed’s position as a high-impact, low-investment Energy Saving Technology, which is helping commercial fleet owners meet their sustainability and decarbonization targets.
Propspeed has multiple locations internationally. How many employees are in the company, in total?
Propspeed has a global team of 33 employees, and we’re investing further in people as part of our growth strategy for 2025.
Founded and headquartered in Auckland, New Zealand, Propspeed operates from two sites locally: one dedicated to production and R&D, and the other serving as our head office, home to our finance, marketing, sales, strategy and H.R. teams. Internationally, we have a warehouse in Florida, and a team of six spread across the USA, including a vice president of sales and operations, business administration, and four regional sales and technical managers. In Europe, we have a warehouse in the Netherlands, with an EMEA sales director and an EMEA technical sales manager, both based in Italy.
Looking ahead, we are planning to open a warehouse in the UAE to support the wider GCC market, aligned with our strategic growth plans for 2025.
What were the keys to overcoming relative geographic isolation in New Zealand?
In the early stages of Propspeed’s international growth in the 2000s, barriers included logistics, distribution, branding and gaining market intelligence across different markets. Success came through the development of strong early partnerships. This was critical for penetrating the U.S., South American and European markets.
I can’t overstate the importance of doing thorough due diligence on partners — being clear, upfront and transparent about what you can offer beyond just product and price, and sharing your long-term vision early. One of the things I’m proud to have inherited at Propspeed is a mindset that understands each market may require a different type of partner at different stages of the business life cycle. Sometimes it’s a passionate, driven individual, while at other times, it’s working with major wholesalers. Knowing how to adapt and not limiting ourselves to one type of partner was, and is, fundamental to our success.
Overcoming geographic isolation also came down to local investment, particularly in localized inventory. Without stock close to the market, it’s challenging to create real demand or service it effectively.
Beyond logistics, we recognized early that successful application was critical to our product’s performance. Investing in technical salespeople on the ground, training boatyards, prop shops and applicators to correctly apply Propspeed was a significant commitment for a young business.
These investments, made in the early to mid-2000s, didn’t show overnight returns. But 10 to 20 years later, they have paid off by establishing strong product performance, a trusted brand, loyal partnerships and consistent support in-market.
Where are your biggest markets?
America is our largest export market, and while we already have a strong market position there, we see significant growth opportunities ahead as we continue to educate the marine industry on the importance of foul-release coatings, not just for improving efficiency but also for reducing operational costs and protecting the environment.
Europe is our second-largest market, and we see even stronger momentum around sustainability initiatives, with foul-release coatings playing a key role in helping vessel owners meet their environmental and performance goals. We’ve found a number of niche markets that have shown promising growth in recent months, and have developed key partnerships in Croatia and Slovenia, as well as Greece and Cyprus.
Where would you like to see the company expand?
Looking ahead, we’re focused on expanding further into the GCC region, where we see strong growth potential for the recreational marine industry. We’ve already made strategic investments there, supported by the recently signed free-trade agreement between New Zealand and the UAE, which creates new opportunities for expansion and investment.
Beyond recreational boating, Propspeed has also been developing its commercial division over the past five-plus years. Our focus here is on positioning Propspeed as a trusted energy-saving technology for commercial fleet operators who are looking to meet their operational efficiency, sustainability and decarbonization goals.
What partners were instrumental in advancing your distribution of Propspeed products?
We proudly display our partners on our website because partnerships are a critical part of Propspeed’s DNA and success story. We partner with everyone from highly driven individuals or small partnerships with deep local connections, all the way up to the largest marine retailers in the world, like West Marine. Success didn’t come from a one-size-fits-all strategy; it required carefully selecting and continuously reviewing our partners based on where we were in our business life cycle, strengthening existing partnerships or building new ones when necessary.
Beyond traditional distribution, partnerships with government agencies, strategic alliances and OEM collaborations have also been critical in supporting our development and expansion efforts.
What are the challenges now for the company?
Like many businesses today, Propspeed operates in a global environment marked by economic uncertainty, and a lack of consistency and confidence. Our focus is on cutting through the noise, acting on accurate information, and staying committed to what we can control; strengthening our sales and marketing strategies; unlocking potential in our operations; and ensuring we deliver clarity and confidence to our partners and customers.
Another evolving area we continue to focus on is the supply chain. Supply-chain dynamics are always shifting, and to maintain the level of customer satisfaction, confidence and consistency we pride ourselves on, we must continue elevating our internal capabilities. To support this, we recently created a new head of operations role and brought in additional leadership experience to further strengthen our operational resilience and unlock supply-chain potential.
What are your thoughts about U.S. tariffs?
At the time of this interview, New Zealand has had an additional 10% tariff applied to exports into the U.S. As a New Zealand producer and exporter, that’s not insignificant, but the broader impacts are of greater concern.
Beyond the immediate tariff, it’s the lack of consistency and clarity in trade policy, and the second- and third-order consequences, that create real uncertainty. Investors are becoming more cautious, holding off on decisions until there’s greater confidence and visibility, which could have a longer-term impact on industries and on businesses.
That said, we remain optimistic with a strong strategy in place, good leadership to execute it, and a clear focus on the things we can control.
For other relatively new companies, what impediments do you see in development and distribution of their products?
For newer companies, the challenge isn’t just bringing a good product to market. It’s about building a complete value system around it. Propspeed’s success has come from not just selling a product, but from creating a comprehensive solution: strong training programs, integration support for businesses, strong branding and ancillary tools that address real industry challenges.
What advice would you give to new marine-company leaders?
My advice to leaders of new companies is to think beyond the product itself. Focus on how you can become a true partner to your customers by providing the training, tools and support they need to integrate your solution into their business model efficiently and safely.
Invest in building credibility through rigorous testing, independent validation and clear communication of the value you bring for today’s needs and the industry’s future challenges like decarbonization and operational sustainability.
And finally, stay anchored to a clear vision. At Propspeed, our commitment has always been to protect underwater assets and our shared playground, the ocean. Keeping that long-term mission at the core of every decision has helped guide us through every stage of growth.
