Hi Tez and

to the forum.
I have very little knowledge of the EZ range of controllers, but I suspect that you may well have something set incorrectly in the controller settings if it's only drawing 25A at 700rpm with full throttle.
According to the
User manual, the maximum bus current for the B721000 controller is 500A!
Check the Settings for the controller regarding the Max phase current(A), Max rotor speed(rpm) and Max bus current(A) etc. to see if anything is obviously wrong there.
Whilst belt reduction and/or a smaller propeller with less pitch may well be required to improve the efficiency of the motor, I would still expect the bus current to be a huge amount higher than 25A @ 700rpm if the motor is struggling with incorrect gearing/prop size etc..
Perhaps the motor or controller is simply getting too hot and is automatically reducing the current to prevent overheating, but I don't know for sure if this is the default action with the EZkontrol controllers.
If the current draw from cold is significantly higher, then this could be what's happening.

Hopefully, you will be able to monitor their temperatures using the App to see what is happening.
Do you have liquid cooling installed for both the controller and the motor?
Did the original diesel motor drive through a gear reduction unit? If so, what would the original propshaft rpm have been at maximum boat speed?
According to the
Dynomometer figures, the HPM-10kW motor achieves maximum power and maximum efficiency @ just over 3,800 rpm, but I would aim for a gear reduction and/or smaller prop etc. that would allow the motor to run somewhere between 3,000 and 3,500rpm at maximum cruising speed.
Alan