DRIFT Energy raised £5M in a Series A funding round led by Octopus Ventures to commence vessel production for energy-generating yachts.

Aug 14, 2024•over 1 year ago

Amount Raised

£5 Million

Round Type

series a

BathRenewable EnergyEnergy

Investors

Blue Action AcceleratorOctopus Ventures

Description

DRIFT Energy has closed £5 million in Series A funding from Octopus Ventures and Blue Action Accelerator. The investment will enable the company to start production of high-performance sailing vessels that will harness deep ocean wind to produce green hydrogen.

Company Information

Company

DRIFT Energy

Location

Bath, Somerset, United Kingdom

About

DRIFT Energy is a startup based in Bath, UK, that utilizes innovative sailing vessels to generate clean energy from the ocean. Founded in 2021 by Ben Medland, the company focuses on harvesting green hydrogen as a renewable energy source. Their Energy Yachts operate using AI to navigate optimal sailing conditions, contributing to significant reductions in CO2 emissions. DRIFT Energy aims to build a fleet of over 1000 energy-generating yachts by 2050.

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