Electric vessel maker Candela closes record funding round of €24.5M
Candela, the leading maker of sustainable, electric hydrofoil vessels, today announced it has closed the largest funding round in the company’s history, to expand production of its game-changing P-12 ferry. A key partner in the 24.5 million EUR round is Groupe Beneteau — the largest global boat maker.
Globally, waterborne transport emits 3% of global GHG emissions. Still, electrification has been slow to take off across leisure and commercial vessels, due to conventional ships and boats being inefficient at high speed.
Candela’s innovative, computer-stabilized hydrofoil craft have disrupted the marine industry. As they fly above the friction of water, they use 80% less energy than other ships and boats, attaining long range and high speed on battery power – a first in the marine industry. At the same time, they offer operators lower operational costs, incentivizing a transition to sustainable vessels.
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.
