Swedish electric boat maker, Candela has just announced a $20M investment in a 30-passenger electric ferry, the Candela P-12 Shuttle.
The investment round was co-led by EQT Ventures and investor duo Joel Eklund and Svante Nilo Bengtsson, with participation from Ocean Zero LLC, among others.
The funding will be used to bring Candela’s game-changing, foiling 30-passenger ferry Candela P-12 Shuttle to mass production in the company’s new Stockholm factory.
The company’s P-12 electric ferry is set to bring the same benefits of Candela’s existing designs to the world of commercial boating.
The Candela P-12 is expected to launch this summer when the company says it will become the fastest and longest-range electric passenger vessel in the world.
The CEO and founder Gustav Hasselskog explained that the P-12 will be more than just quicker and cheaper than land transportation.