Candela Secures €30M for Global Ferry Expansion

This significant capital injection, including €8 million from the International Finance Corporation (IFC), defies a cooling climate tech investment landscape. The funds are earmarked for aggressive expansion, notably a second manufacturing facility in Poland, to scale production of its P-12 electric hydrofoil ferry.

Candela's innovative technology allows its ferries to "fly" above water, reducing energy consumption by up to 80% compared to conventional diesel vessels, while offering faster, smoother, and wake-free travel. With over 65 vessels already on order and deployments expanding globally to cities like Mumbai, the Maldives, and Saudi Arabia, Candela is transitioning from prototype to mass production.

The company's strategy mirrors the automotive industry's platform-based, serial production approach to drive down costs, making electric waterborne transit viable for both developed and emerging markets, a key driver for IFC's involvement. This scaling phase positions Candela to capitalize on the growing demand for sustainable and efficient urban water transport.