DRIFT Energy Secures Funding for Innovative Green Hydrogen-Producing Vessel
Key Ideas
- DRIFT Energy, a British startup, has received funding of up to £4.65m to develop a sailing vessel that will produce green hydrogen using deep ocean wind.
- The initiative, supported by Octopus Ventures and Blue Action Accelerator, aims to begin vessel production in 2025, marking the first green hydrogen-producing DRIFT ship.
- The funding will be used to enhance vessel design, expand the team, and onboard new partners. DRIFT's mission aligns with preserving marine environments and supporting coastal communities.
- In preparation for entering the hydrogen industry, DRIFT Energy has recently appointed Neal Pawson as Head of Vessel Programme and Michael Mackay as Head of Vessel Design.
DRIFT Energy, a British startup, has successfully secured funding to advance its innovative project of developing a sailing vessel that can generate green hydrogen from deep ocean wind. The funding, totaling up to £4.65m, will drive the production of the first green hydrogen-producing DRIFT ship, with plans to commence vessel construction in 2025. This investment, led by Octopus Ventures and supported by the Blue Action Accelerator, signifies a significant step towards leveraging renewable energy sources for maritime purposes.
Ben Medland, the Founder and CEO of DRIFT, expressed enthusiasm about the partnership with Octopus Ventures and the support from Blue Action Accelerator, highlighting the opportunity to propel the company toward its next phase of growth. The collaborative efforts aim to enhance DRIFT's vessel design program, facilitate team expansion, and engage new partners in 2025.
The endorsement from George Northcott, Co-Founder of Blue Action Accelerator, emphasizes the importance of scaling innovative technologies like DRIFT to benefit marine ecosystems and coastal communities. Through leveraging deep ocean wind to produce green hydrogen, DRIFT seeks to revolutionize mobile renewable energy solutions, catering to various energy needs from remote islands to industrial ports.
Additionally, in preparation for its foray into the hydrogen industry, DRIFT Energy has strengthened its team by appointing Neal Pawson as the Head of Vessel Programme and Michael Mackay as the Head of Vessel Design. These strategic hires align with DRIFT's vision of pioneering sustainable energy solutions and advancing technological capabilities in the maritime sector, further solidifying its position as a key player in the green energy transition.
Topics
Production
Renewable Energy
Technology
Investment
Funding
Green Energy
Startup
Marine Environment
Sailing Vessel
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