Dec 21, 2021

Candela Electric WatercraftOn December 8th, Swedish tech firm Candela -- known for cracking the code for long-range electric crafts and topping electric boat sales -- has announced it has raised €24M, led by EQT Ventures, with participation from existing investor Chris Anderson, the Curator of TED. The new capital will boost the company’s already substantial cash influx from sales and will be used to triple R&D, invest in production automation and scale up the sales organisation to meet demand for Candela’s electric leisure and commercial vessels worldwide.

The shift to zero emission boats and ships has been hampered by the enormous energy consumption and correspondingly low range of conventional electric boats. Flying on computer-guided underwater wings -- known as hydrofoils -- that reduce energy consumption by 80% compared to conventional planing craft, Candela’s vessels soar above the waves in silence with 2-3 times longer endurance than the best conventional electric powerboats. The active hydrofoil system stabilises the vessels in-flight using computer power and advanced software that accounts for waves and side winds, allowing for a wake-free and smoother ride than conventional boats.

Over the past three years, Candela’s high-tech hydrofoil vessels have disrupted the global boating industry by being the first to offer the elusive combination of long all-electric range and high speed. Since 2019, Candela has led electric boat sales in Europe with its foiling C-7 sportsboat. Now, the company is building on this success with the mass market Candela C-8, a day cruiser that the company has close to 100 orders for, just three months after launch.

The new investment will be used to triple Candela’s fast-growing R&D team that consists of leading engineers from the aerospace, software, and electronics industries. Funds will also be allocated to complement the company’s Stockholm facility with an additional highly automated factory, which will produce the Candela C-8 alongside the commercial vessels launched earlier this year: the shuttle ferry Candela P-30 and the water taxi Candela P-12.

By scaling its mature and market-proven hydrofoil tech to commercial vessels, Candela envisions to have a big impact on the sizable CO2 emissions caused by fast coastal shipping worldwide. Marine transports are responsible for 4 to 5 percent of the world’s annual Co2 emissions. By combining sustainability with lower operational costs, Candela foresees that the company’s electric passenger vessels will drive the transition away from ICE ships even faster than for leisure boats.

The Candela P-30 ferry – the world’s first electric hydrofoil passenger vessel – has been commissioned by the Region of Stockholm, where it is set to commence traffic in 2023. It will shuttle passengers to and from the city’s vast archipelago. According to the Region’s calculations, Candela P-30’s energy-saving hydrofoil system will shed operational costs by 42% compared to current diesel vessels, as well as allow for faster travel and more frequent departures.

Gustav Hasselskog, CEO of Candela, commented: “We’ve shown that our hydrofoil tech is the key to make electric boats commercially viable. We’re seeing boundless demand for the Candela C-8, as well as huge interest in our commercial vessels. The investment from EQT Ventures will allow us to double down on our mission to speed up the transition to fossil fuel-free lakes and oceans. It took us four years to develop the technology and two more years to master it. Now we are ready to scale up fast.”

“It then means a lot to get strong backing from Europe’s finest investors. EQT Ventures is really the perfect match for Candela with its connections to the Wallenberg sphere with its 160 years of success in developing world leading industrial companies. Our recreational craft are in high demand since they offer an electric alternative that is much better than the ICE competitors. For commercial operators, Candela’s 90% lower energy cost is an additional important driver for switching to electric.”

Lars Jörnow, Partner at EQT Ventures, added: “Candela is the world’s leading company for cutting-edge technology that makes leisure and passenger crafts fossil-free. The transition to clean passenger transportation has been very fast on land. Now, with Candela’s technology, it will happen also on water. We want to support Candela to further strengthen its role as the technology leader while scaling up the production fast, so that the positive environmental impact of Candela can become global.”

 

  • Prev
The Boating Industry Canada Employer of Choice (BICEOC) Award is the industry's only ...
Our readers will be interested in this sweeping statement of corporate strategy and evolution  ...
Land 'N' Sea invites you to join them to experience North America's largest coast-to-coast ...
Advanced Textiles Association (ATA) proudly announces the launch of the ATA Leadership Academy, an ...
The annual Boating BC Conference is set for November 21 and 22nd with Marina Night on Monday ...
The boating community is gearing up for the return of the iconic Annapolis Powerboat Show to City ...
The Ontario Ministry of Labour, Training, and Skills Development, is once again launching ...
Let your customers know they can enjoy boating activities all year, and go further and do more with ...
With the end of Summer upon us Quadrant Marine Institute is geared up and ready for our next ...
The Maritime Museum of BC, with support from the Greater Victoria Harbour Authority, Mill Bay ...

Boating Industry Canada News Week

 

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you're looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here

 

 

 

 

 

Marine Products

  • Prev
Zhik’s new Seaboot 700 is extremely lightweight and flexible, giving the agility, feel and comfort ...
The Albin Group team will be on deck at IBEX 2023, October 3-5 at the Tampa Convention Center with ...
The new Dolphin PRO Evo3 Battery Chargers from Scandvik incorporate the latest charging ...
Mastervolt, a global leader in innovative autonomous power solutions, has announced the launch of ...
Lippert Components Inc., a supplier of a broad array of highly engineered components for the ...
The first of its kind, Brownell BL8AIR Air-Hydraulic Boat Lift System allows builders, dealers, ...
On September 12, 2023, Garmin unveiled its flagship GPSMAP® 9000 chartplotter series designed for ...
AT the end of August, Mercury Marine, a division of Brunswick Corporation introduced the Avator™ ...
On September 6th, Garmin announced the addition of two radars to the magnetron lineup, the GMR™ ...
Chocks that hold mooring lines in position enhance the functionality of any boat but can be ...

 

Questus Radar Mount

Questus Marine patented, Self-Leveling Radar Mounts automatically keep radar antennas level with the horizon, eliminating target loss.

Regardless of the angle of heel, with a Questus mount, a radar antenna will pick up targets to either side of a vessel, rather than aiming to the sky and water (for planes and fish). The Questus Marine Self-Leveling Radar Mount can be installed in three basic configurations: backstay mount, mast mount or Stern Pole mount.

 

 

 

Read More


 

People

  • Prev
RAILBLAZA Ltd., manufacturer of premium quality, user-friendly electronics, fishing and boating ...
The Board of Directors of The Sailing Museum and National Sailing Hall of Fame recently announced ...
We learned from the Tuesday, August 1st, 2023 edition of the UK media outlet, Marine Industry News ...
Torqeedo, the global market leader for electric mobility on the water, announced on July 18th, the ...
On July 18th, Brunswick Corporation named Lenn Scholz president, Boston Whaler and Jeromie Johnston ...
Heather Wiczek, MarineMax Nisswa Operations Manager, was recently named to Boating Industry's 2023 ...
The Board of Directors of The Sailing Museum and National Sailing Hall of Fame have announced that ...
It is with profound sorrow that Furuno USA announces the passing of long-time employee and friend, ...
Making boating safety education more accessible by bringing courses online, growing the ...
Pace Industries, North America’s leading full-service aluminum, zinc and magnesium die casting ...

Torqeedo announces new structure and names business unit management

Matthias Vogel, Fabian Bez, Sven Mostoegl

Left to right: Matthias Vogel, Fabian Bez, Sven Mostoegl

Torqeedo, the global market leader for electric mobility on the water, announced on July 18th, the creation of two dedicated business units and named their managers. Matthias Vogel will lead the Customized Solutions unit, and Sven Mostögl will lead the Branded Retail line.

“The new Customized Solutions business unit will serve our marine industry and commercial maritime clientele with a dedicated team of experts in sales, application engineering, customer service, and after-sales service,“ said Fabian Bez, CEO of Torqeedo GmbH. 

Read More