Candela raises 30m as electric ferries gain momentum amid fuel price surge

"The funding round, the company's largest to date, brings total capital raised to €129 million and cements Candela's position as the best-funded electric vessel manufacturer globally. The round was backed by existing investors including EQT Ventures, SEB Private Equity, KanDela AB and Ocean Zero LLC, alongside a new €8 million investment from the International Finance Corporation (IFC), part of the World Bank Group."

"Candela's P-12 ferry represents a significant technological shift in this direction. Recently named one of TIME magazine's most important inventions of 2025, it is the world's first electric hydrofoil ferry operating in scheduled commuter service. The vessel uses a proprietary computer-controlled hydrofoil system that lifts it above the water's surface, dramatically reducing drag and cutting energy consumption by up to 80 per cent compared with conventional ships."

"The raise comes at a pivotal moment for the maritime sector, as volatile oil markets and rising fuel costs reshape the economics of waterborne transport. Investors are increasingly backing technologies that not only reduce emissions but also offer a clear cost advantage over traditional diesel-powered vessels."

Candela, an electric vessel manufacturer, has raised €30 million in its largest funding round to date, with total capital now reaching €129 million. The funding includes €8 million from the International Finance Corporation, part of the World Bank Group, alongside existing investors. The capital will finance a second manufacturing facility in Poland to scale production of the P-12 hydrofoil ferries. Rising global fuel prices and decarbonization pressures are driving demand for electric maritime solutions. Candela's P-12 ferry uses a computer-controlled hydrofoil system that reduces energy consumption by up to 80 percent compared to conventional ships, offering zero emissions, faster journey times, and lower operating costs.

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