“Candela’s Ferries Experience Electrifying Growth with $25M Injection of Funds”
Electric boat maker Candela is approaching cruising speed with $25 million in new funding and the first commercial deployment of its new P-12 ferry, in New Zealand.
The P-12, a ferry design that can handle up to 30 passengers, made its debut late last year.
Like any other industry, you have to know when to buy and when to build, and big boating companies are happy to buy — or invest.
Candela’s boats use hydrofoils with electric engines mounted on the bottom to effectively fly above the surface of the water once they get past a certain speed, vastly reducing energy consumption — historically and understandably a sticking point for electric boating.
Theh $25 million round was led, as mentioned, by Beneteau, with participation from EQT Ventures, Ocean Zero LLC, and Kan DelaAB.
