TLDR:
- DRIFT Energy plans to produce green hydrogen at sea using sailing vessels
- The company has secured £4.65 million in seed funding, led by Octopus Ventures
DRIFT Energy, a British startup focused on producing green energy at sea using advanced sailing vessels, has closed its seed funding round with a total of £4.65 million. The funding, led by Octopus Ventures and supported by Blue Action Accelerator, will enable the company to scale up and begin production of its first green hydrogen producing vessel next year. The company aims to contribute to the global transition to clean energy by deploying a fleet of high-performance sailing vessels that utilize deep ocean wind to produce green hydrogen for delivery worldwide.
As the demand for clean hydrogen grows to decarbonize sectors such as heavy industry and transportation, DRIFT’s innovative approach to producing green hydrogen through electrolysis using renewable energy is gaining momentum. The latest funding round will help DRIFT Energy in developing and building its first green hydrogen production ship, setting a new standard for sustainable energy solutions at sea.
During the United Nations’ 4th International Conference on Small Island Developing States, Ben Medland, the Founder and CEO of DRIFT Energy, identified an opportunity to support the energy transition for millions of people living on islands worldwide. With a focus on innovation and sustainability, the company is also forging renewable energy partnerships to benefit coastal and island communities.
Octopus Ventures, a prominent investor in Deep Tech, expressed excitement about supporting DRIFT Energy’s mission to develop innovative renewable energy sources. Working closely with Octopus Ventures and Blue Action Accelerator, DRIFT Energy aims to bring its vision of ‘Oceans of Energy’ to life with its first net positive ship. The company has also received funding from Innovate UK to drive research and development for its groundbreaking vessel.
DRIFT Energy’s commitment to revolutionizing renewable energy production at sea demonstrates its potential to lead the way in sustainable energy solutions. With strong investor support and a clear vision for the future, DRIFT Energy is well-positioned to make a significant impact in the global clean energy landscape.
