{"id":8535,"date":"2024-03-20T16:34:44","date_gmt":"2024-03-20T08:34:44","guid":{"rendered":"https:\/\/www.boatshowchina.com\/?p=8535"},"modified":"2024-03-20T16:35:06","modified_gmt":"2024-03-20T08:35:06","slug":"candela-closes-record-funding-round-partners-with-groupe-beneteau","status":"publish","type":"post","link":"https:\/\/www.boatshowchina.com\/en\/latest-news\/archives\/8535","title":{"rendered":"Candela closes record funding round; partners with Groupe Beneteau"},"content":{"rendered":"\n

Candela today announced it has closed the largest funding round in the company\u2019s history, to expand production of its P-12 ferry. A key partner in the \u20ac24.5 million round is Groupe Beneteau.<\/p>\n\n\n\n

Globally, waterborne transport emits 3% of global GHG emissions. Still, electrification has been slow to take off across leisure and commercial vessels, due to conventional ships and boats being inefficient at high speed.<\/p>\n\n\n\n

Candela claims its computer-stabilized hydrofoil craft use 80% less energy than other ships and boats, attaining long range and high speed on battery power. At the same time, Candela says, they offer operators lower operational costs, incentivizing a transition to sustainable vessels.<\/p>\n\n\n

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The Candela P-12<\/figcaption><\/figure>\n<\/div>\n\n\n

\u201cOur investment perfectly aligns with Groupe Beneteau\u2018s ecological transition objectives, scaling up innovative solutions for more sustainable boating and unparalleled experiences. Candela\u2019s technology, enabling significantly more efficient electric vessels, will transform waterborne transport into its next sustainable phase\u201d, says Bruno Thivoyon, CEO at Groupe Beneteau, the world\u2019s largest boat manufacturer with a turnover of \u20ac1.46bn, 15 factories, 9 brands, and more than 8,000 yachts built annually.<\/p>\n\n\n\n

\u201cWe couldn\u2019t be more excited about having Groupe Beneteau on board. As the leading global boat company, their trust is a stamp of approval for our technology to transform waterborne transportation. We\u2019re excited for the possibilities ahead,\u201d says Gustav Hasselskog, Founder and CEO of Candela.<\/p>\n\n\n\n

The new investment round will help to scale up production to meet demand for the recently launched Candela P-12, billed as the world\u2019s first electric hydrofoil ferry. The P-12 starts a new chapter in waterborne transport, as it\u2019s the first fast and long-range electric ferry on the market. Its efficient hydrofoil tech is claimed to cut lifetime emissions by\u00a097.5% compared to diesel vessels, while simultaneously allowing operators to halve costs, according to Candela. Since it generates minimal wake, the P-12 has been granted exemptions from speed limits, as for example on its maiden route in Stockholm,\u00a0where it from July will cut travel times in half compared to road transport and legacy diesel vessels.<\/p>\n\n\n\n

The market for electric vessels is expected to be worth US$14.2bn in 2030\u00a0according to Fortune Business Insights, driven by strong national incentives to decarbonize shipping. In 2023, the European Union included maritime transport in its Emissions Trading System (ETS), and countries like Norway are pushing for zero-emission fjords, mandating electric ferries and boats.<\/p>\n\n\n\n

\u201cWe\u2019ve spent years developing the technological maturity, and now we\u2019re fit for scaling to commercial vessels. As in any industry, the fastest-scaling company will dominate the market\u201d, says Gustav Hasselskog.<\/p>\n\n\n\n

Other backers in the round include longtime investors EQT Ventures, Ocean Zero LLC, and Kan Dela AB. The new investment brings total funding since Candela\u2019s inception to over \u20ac70M.<\/p>\n\n\n\n

\u201cEQT Ventures has steadfastly backed Candela\u2019s vision to accelerate the shift towards fossil fuel-free lakes and oceans since 2021. The launch of Candela\u2019s P-12 vessels signifies a watershed moment in sustainable transport\u201d, says Lars J\u00f6rnow, Partner at EQT Ventures.<\/p>\n","protected":false},"excerpt":{"rendered":"

Candela today announced it has closed the largest funding round in the company\u2019s history, to expand production of its P-12 ferry. A key partner in the \u20ac24.5 million round is Groupe Beneteau.<\/p>\n","protected":false},"author":5,"featured_media":8536,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[],"class_list":["post-8535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","entry"],"_links":{"self":[{"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/posts\/8535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/comments?post=8535"}],"version-history":[{"count":1,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/posts\/8535\/revisions"}],"predecessor-version":[{"id":8538,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/posts\/8535\/revisions\/8538"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/media\/8536"}],"wp:attachment":[{"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/media?parent=8535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/categories?post=8535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.boatshowchina.com\/en\/wp-json\/wp\/v2\/tags?post=8535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}