Candela raises 20 million dollars to launch hydrofoil water vessel

Swedish tech company Candela has secured an additional 210 million Swedish Krona ($20 million) to bring its hydrofoil water vessel to mass production. The P-12 is said to launch this summer.

Candela is working on a low-energy use water shuttle as hydrofoil. “This new investment will unlock the potential of underutilized waterways for climate-friendly, high-speed commuting. The P-12 Shuttle will, in many cases, be faster and cheaper than land transport like bus lines, and it will be profitable for operators from day one,” says Gustav Hasselskog, Candela’s founder and CEO. The investment was co-led by EQT Ventures and investor duo Joel Eklund (Fosielund Holding AB) and Svante Nilo Bengtsson (Marknadspotential AB).

The P-12 is twelve metres long and has room for 30 passengers. According to the company, it uses only 1 kWh per passenger per kilometre. That is – according to Candela – 80 per cent less energy than traditional vessels. “When launching this summer, P-12 Shuttle will become the fastest and longest-range electric passenger vessel in the world,” Candela writes in its press release.

It will first go into service in the region of Stockholm, where commuters can hop on the electric ferry between the centre of the Swedish capital and the suburb of Ekerö. Candela says the commute will only take 25 minutes – half an hour less than by car or conventional diesel ferry.

The vessel will be ready to hit the waters this summer, and Candela says it is already “in sales discussions with more than 180 interested parties about the P-12 Shuttle systems.”

The P-12 Shuttle’s low energy use is made possible by the three carbon fibre wings that extend under the fuselage. These active wings enable the ship to lift itself above the water during the journey, which enormously reduces the flow resistance of the hull. This also means waves are not created and therefore does not damage waterway embankments or disturb other vessels. The City of Stockholm has granted the P-12 Shuttle an exemption so that it is permitted to travel faster than 12 knots.

The region in and around the Swedish capital is full of waterways. Looking at the map, it’s not hard to see how these provide more direct routes in the city and regional routes. Potentially, with many of the world’s cities built on or near waterways, this vessel may significantly diversify the vehicular landscape in cities across the globe.


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