DRIFT Energy Secures Funding for Green Hydrogen Production at Sea
Key Ideas
  • DRIFT Energy, a British startup, has closed a seed funding round of £4.65 million to build high-performance sailing vessels for producing green hydrogen at sea.
  • The funding, led by Octopus Ventures and supported by Blue Action Accelerator, will allow DRIFT Energy to start vessel production next year and deploy a fleet to deliver green hydrogen globally.
  • DRIFT Energy's innovative vessel routing algorithm enables optimization for wind conditions, making it more efficient than traditional offshore wind farms with a faster commissioning time.
  • The company's partnership with Innovate UK further strengthens its position in the green energy sector, showcasing the potential for rapid growth and impact in sustainable energy production.
DRIFT Energy, a British startup, has successfully closed a seed funding round to pursue its vision of generating green energy at sea using high-tech sailing vessels. The funding, amounting to £4.65 million, was secured with the support of Octopus Ventures and Blue Action Accelerator, enabling the company to move forward with its plans to commence vessel production in the coming year. DRIFT Energy's core objective is to establish a fleet of cutting-edge sailing vessels that utilize deep ocean wind to produce green hydrogen, which can then be distributed on a global scale. A key innovation by DRIFT Energy is the development of a unique vessel routing algorithm that allows the sailing vessels to locate and remain in optimal weather conditions, returning to port only when their hydrogen tanks are full. This approach not only enhances efficiency but also significantly reduces the time required for commissioning compared to traditional offshore wind farms. The company emphasizes that while it typically takes around 13 years to plan, design, and commission an offshore wind farm, DRIFT can achieve similar results with a fleet of vessels in a much shorter time frame. Additionally, DRIFT Energy has secured funding from Innovate UK, the UK's innovation agency, through its Investor Partnership Programme, further validating the company's commitment to driving innovation in the green energy sector. This recent development underscores DRIFT Energy's potential for rapid growth and impact in sustainable energy production, positioning the startup as a key player in the evolving landscape of green hydrogen technology.
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