The Electric Boat Company was incorporated officially in 1899, but its technological and corporate roots go much deeper. John P. Holland, who had attained considerable public recognition for his earlier submarines, won the U. S. Navy's 1888 competition to design its first modern submarine. In anticipation of a contract, he and lawyer Elihu B. Frost organized the Holland Torpedo Boat Company in 1893, but government stalling delayed the start of construction on the Plunger until 1895.
The Ups and Downs of Electric Boat
By Commander John D. Alden, U.S. Navy (Retired)