Candela secures $25 Million in funding for electric boat fleet expansion

Candela secures $25 Million in funding for electric boat fleet expansion

Candela, a Norwegian electric boat maker, has secured $25 million in funding. The funding will be used to expand its electric ferry fleet and support global ambitions. Candela has completed and delivered dozens of highly efficient electric boats.

• Funding Details: The funding round was led by Groupe Beneteau, with participation from EQT Ventures, Ocean Zero LLC, and Kan DelaAB. The funding will propel Candela's expansion plans and contribute to developing sustainable boating solutions.

• Innovative Technology: Candela, founded in 2014 by Gustav Hasselskog, produces boats that use hydrofoils with electric engines, significantly reducing energy consumption.

• Candela's Electric Boats Journey: Candela started with smaller vessels, producing 70 boats. The company introduced the P-12 ferry design, accommodating up to 30 passengers. The P-12 ferry debuted last year and has already been assigned to ferry people around New Zealand's Lake Manapōuri.

• Environmental Impact and Partnerships: Using clean-running electric boats is estimated to save around 240 tons of emissions per year. Groupe Beneteau, a renowned boating company, participated in and led the funding round, aligning with its ecological transition objectives. The interest of legacy boating companies in electric engines indicates a broader trend in the industry.

As more companies invest in electric boats and embrace innovative technologies, the future of the boating industry looks cleaner, quieter, and more environmentally friendly.