Candela, the Swedish electric boat maker, is making waves once again with the announcement of a new funding round and the launch of their first P-12 electric ferry in the US. The P-12 ferry is the company’s first operational hydrofoil electric ferry, following the success of their C-7 and C-8 recreational speedboats. All three boats utilize Candela’s advanced computer-controlled hydrofoil technology, allowing them to fly several feet above the water while traveling at 25 knots (30 mph), making the P-12 the fastest electric ferry in operation.
The hydrofoil technology not only provides a smoother ride but also improves efficiency, allowing the boats to use smaller batteries and recharge quickly at the dock. The first P-12 ferry recently entered service in Stockholm, and now Lake Tahoe is set to introduce its own electric ferry service. The P-12 ferry will offer a 30-minute cross-lake service, cutting travel times in half compared to the 20,000 daily car trips along the same route. This new ferry service will provide a crucial north-south connection across the lake and help reduce emissions and road sediment that threaten Lake Tahoe’s famous clarity.
Ryan Meinzer, Founder & CEO of FlyTahoe, the company operating the new ferry service, emphasizes the importance of preserving Lake Tahoe’s beauty by offering a faster and more sustainable transport option than cars or buses. The electric ferry will also provide quicker access to the 14 ski resorts surrounding the lake, benefiting both tourists and locals.
Meanwhile, Candela has secured an additional $14 million in funding through its Series C round, bringing their total funding for 2024 to over $40 million. The investment, led by SEB Private Equity with participation from existing investors EQT Ventures and KanDela AB, will enable Candela to meet the growing demand for their zero-emission vessels and expand production of their models worldwide.
Gustav Hasselskog, Candela’s founder and CEO, views this investment as a significant step towards decarbonizing waterborne transportation and believes it marks the beginning of a zero-emission revival in the industry. The company’s innovative technology and commitment to sustainability have garnered support from investors even during challenging times.
In conclusion, Candela’s groundbreaking electric ferries are not only revolutionizing waterborne transportation but also contributing to the preservation of natural landscapes like Lake Tahoe. With the introduction of the P-12 ferry and the new funding round, Candela is poised to lead the way in sustainable marine transportation for years to come.
