Stockholm-based Candela sails away with €25M to electrify maritime transport: Here's how

Stockholm-based Candela, a manufacturer of long-range electric boats, announced on Tuesday that it has secured €25M in funding from Groupe Beneteau, bringing the total fund raised to €70M.

Other investors in the round include EQT Ventures, Ocean Zero LLC, and Kan Dela AB. 

The recent investment will help scale up Candela P-12, the world’s first fast and long-range electric hydrofoil ferry.

Candela P-12: What you need to know

Candela P-12’s pre-production vessel, “Zero,” made its first flight outside Stockholm last November, hitting a take-off speed of 16 knots and reaching its designed top speed of 30 knots within 16 seconds. 

P-12’s three carbon fibre wings beneath the hull reduce energy consumption by 80 per cent compared to regular fast vessels. 

Once airborne, P-12’s Digital Flight Control System adjusts the foils’ angles based on various sensors, ensuring a smoother voyage without the discomforts of sea-sickness-inducing motions common on regular ships.  

The second P-12 vessel, set to join Stockholm’s public transport system this year, will ferry citizens between the island suburb of Ekerö and the city centre. 

This electric vessel for 30 passengers has secured a speed exemption in the city, cutting commuting times from 55 minutes to just 25 minutes. It beats the speed of competing subway and bus lines and doubles car commutes during rush hour.  

Gustav Hasselskog highlights this change: “Today, in many cities, roads are congested while the waterways – mankind’s oldest infrastructure – are unused for fast commuting. The P-12 offers a path to use these waterways as green highways, offering fast intra-city connections. The quickest way is often over water”. 

Candela P-12 comes in three versions—the P-12 Shuttle, Business, and Voyager—suiting various passenger capacities and requirements. 

Candela: Electrifying maritime transport

Founded by Gustav Hasselskog, Candela provides sustainable electric hydrofoil vessels that deliver shorter travel times and more comfort than traditional ships. 

The company’s goal is to rethink efficiency in marine transportation to push the performance boundaries of electric boats and ships radically.