Drift Energy, a Bath, UK-based startup set to make green energy at sea using hi-tech sailing vessels, raised £4.65m in seed funding.
The round was led by Octopus Ventures, with participation from Blue Action Accelerator.
The company intends to use the funds to bolster its vessel design program, support team growth and enable the onboarding of new partners.
Led by CEO and Founder Ben Medland, Drift Energy is committed to driving the transition to clean energy worldwide by deploying a fleet of high-performance sailing vessels that harness deep ocean wind to produce green hydrogen at sea and deliver it globally.
The company has also recently been awarded funding from Innovate UK, the UK’s innovation agency, through its Investor Partnership Programme, which is designed to drive investment into high-growth, innovative UK companies working on technology. The grant will catalyse the research and development programme and accelerate the design process of the first vessel.
FinSMEs
16/08/2024