The electric watercraft maker Candela sources €24 million in investments from EQT ventures to scale the production of foiling vessels.
Candela’s hydrofoil electric boats reduce energy consumption by 80% compared to conventional planning watercraft. They are the first company to attain an all-electric range at high speeds at sea. Candela is leading the electric boat market to stabilize emissions produced by coastal shipping worldwide.
The company currently offers the best-selling electric boat lineup with now plans to build on candelas proprietary Hydrofoil technology. Allocating financial backing led by EQT Ventures with participation from existing investor Chris Anderson, the curator of Ted talks.
This newly allocated funding will be used to triple research and development, along with investment in production automation, and scale to produce a competitive number of electric vessels to compete in the overall boat sales market.
With funding secured Candela technology’s mission is to speed up the transition to fossil-fuel-free lakes and oceans. And develop the world’s first fully-electric hydrofoil watercraft with their proprietary hydrofoil technology that reduces energy consumption compared to typical planning boats and vessels. For more information visit candela.com
