Swedish firm Candela aims to revolutionize motorized water transport with the upcoming launch of its electric 30-passenger hydrofoil shuttle, the P-12, this summer. The company, which previously developed the C-7 and C-8 leisure cruisers, recently raised around $20 million in a funding round co-led by EQT Ventures and investors Joel Eklund and Svante Nilo Bengtsson, with participation from Ocean Zero LLC, among others.
Candela’s P-12 hydrofoil shuttle, designed to carry 30 passengers, is expected to change the dynamics of water-based public transportation. By choosing a smaller vessel size, Candela aims to optimize seat utilization while also reducing the required onboard staff, resulting in cost savings of around 40% compared to traditional diesel-powered boats.
The P-12’s eco-friendly features contribute to its lower operating costs and environmental impact. Hasselskog noted that the shipping industry accounts for about 3% of total carbon emissions, making the adoption of electric vessels like the P-12 a significant step towards cleaner waterways.
The first P-12 hydrofoil shuttle will be deployed in Stockholm, Sweden, where it will connect a suburb to the city center. Hasselskog explained that the P-12 can complete the journey in 25 minutes, half the time it takes for current public transportation options, due to the hydrofoil’s ability to travel faster without creating wakes.
Candela envisions a future where large fleets of smaller, agile craft provide quick and efficient water transport to more remote locations. The company believes that its innovative approach has a €15 billion market potential and global appeal. As Candela continues to expand, it aims to replace larger ferries in cities like Stockholm with numerous smaller P-12 shuttles, offering a greener, more efficient, and versatile mode of transportation.
The P-12 hydrofoil shuttle exemplifies Candela’s commitment to challenging the status quo in water transport, demonstrating that bigger isn’t always better. By focusing on smaller, faster, and more environmentally friendly vessels, the company hopes to pave the way for a new era of sustainable water-based travel.
