Candela has recently concluded its most substantial funding round to date, aimed at scaling up production of its revolutionary electric ferries.
A key partner in the €25 million round is the Groupe Beneteau. Other backers in the round include longtime investors EQT Ventures, Ocean Zero LLC, and Kan Dela AB. The new investment brings total funding since Candela’s inception to over €70 million.
As explained, the new investment round will help to scale up production to meet demand for the recently launched Candela P-12, described as the world’s first electric hydrofoil ferry.
Worldwide, waterborne transportation contributes to 3% of total greenhouse gas emissions, yet the adoption of electrification in both recreational and commercial vessels has been sluggish.
This is primarily due to the inefficiency of conventional ships and boats at high speeds. However, Candela’s hydrofoil craft, glide above water friction, consuming 80% less energy compared to other marine vessels. This innovative technology enables them to achieve both long range and high speed solely on battery power, marking a significant advancement in the maritime sector.
Candela’s fully connected vessels also have characteristics that make them superior in choppy seas and on sensitive waterways. An onboard Flight controller uses real-time data from sensors to counteract waves, eliminating motion sickness and discomfort. When foiling, Candela vessels don’t create wake, opening up for shorter travel times where conventional craft are limited by speed restrictions.
Our investment perfectly aligns with Groupe Beneteau‘s ecological transition objectives, scaling up innovative solutions for more sustainable boating and unparalleled experiences. Candela’s technology, enabling significantly more efficient electric vessels, will transform waterborne transport into its next sustainable phase.
..Bruno Thivoyon, CEO at Groupe Beneteau, commented.
The P-12 starts a new chapter in waterborne transport, as it’s the first fast and long-range electric ferry on the market. Its efficient hydrofoil tech cuts lifetime emissions by 97.5% compared to diesel vessels, while simultaneously allowing operators to halve costs.
As explained, the market for electric vessels is expected to be worth $14.2 billion in 2030 according to Fortune Business Insights, driven by strong national incentives to decarbonize shipping.