DRIFT Energy secures funding for green hydrogen vessel
DRIFT Energy, a British start-up focused on harnessing ocean wind to produce green hydrogen at sea, has successfully closed its seed funding round to propel the development of its innovative green hydrogen vessel build.
The company secured £4.65 million (€5.5 million), led by Octopus Ventures and supported by Blue Action Accelerator, which will enable it to set its first keel laying for 2025.
“Octopus Ventures is a prolific and experienced investor in the field of Deep Tech, and we are thrilled to announce their investment in DRIFT,” said Ben Medland, DRIFT founder and CEO.
“This funding enables us to drive with momentum into the next phase of our mission. We will work closely with Octopus and our advisory teams to bring our vision of ‘Oceans of Energy’ to life with that all-important first net positive ship.”
Deep ocean wind
DRIFT Energy aims to revolutionise the clean energy landscape by deploying high-performance sailing vessels capable of producing green hydrogen directly from deep ocean wind.
The new funds will support the design and construction of DRIFT’s first green hydrogen-producing vessel, facilitate team growth and attract new partners.
Mat Munro, investor at Octopus Ventures, expressed enthusiasm for the project, added: “We’re incredibly excited about DRIFT’s potential to lead the way in developing a truly innovative source of renewable energy.”
With backing from Innovate UK and a vision to supply sustainable energy to coastal and island communities worldwide, DRIFT Energy looks poised to make significant strides in the maritime intelligence and green hydrogen sectors.
