British startup DRIFT Energy, which uses hi-tech sailing vessels to generate clean energy at sea, has secured a total of £4.65m in seed capital, led by Octopus Ventures with support from Blue Action Accelerator.
The funding will enable DRIFT Energy to commence vessel production next year.
It plans to deploy a fleet of high-performance sailing vessels that harness deep ocean wind to produce green hydrogen at sea and deliver it globally.
The company aims to capitalise on the growing demand for clean hydrogen to accelerate the decarbonisation of heavy industry, transportation and manufacturing.
“This new funding is a vital step in developing and building the first green hydrogen producing DRIFT ship,” says DRIFT Energy in its announcement.
As it is reported, the company saw a huge opportunity to support the energy transition for the 65+ million people that live across more than 1000 islands on the planet.
DRIFT Energy has also recently been awarded funding from Innovate UK, the UK’s innovation agency, as part of its Investor Partnership Programme, designed to drive investment into UK companies working on cutting-edge technology.
Ben Medland, DRIFT founder and chief executive officer said: “Alongside the support from Blue Action Accelerator, this funding enables us to drive with momentum into the next phase of our mission.”
“We are thrilled to be supporting them as they build their first vessels and bring a vision to life,” George Northcott, co-founder of Blue Action Accelerator noted, adding that “DRIFT is the ultimate example of that – creating a new class of mobile renewable energy from the world’s seas and delivering it to where it is needed – from island nation communities to power hungry ports.”
