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Dec 23, 2021

Candela C7C-7’s computer controlled Foil System offers an almost completely silent driving experience and a very smooth ride, even in choppy conditions.

Another innovative alternative boatbuilder is in the news. A venture capital arm is taking a stake in Candela Speed Boat AB, a Swedish startup making electric boats that rely on hydrofoil technology.

EQT Ventures led a 24 million-euro ($27 million) funding round that will enable Candela to scale up the production of leisure boats and start building battery-powered passenger ships for public transport.

As boatmakers seek ways to electrify crafts, Candela is betting on hydrofoil as a means to compete with combustion-engine boats. Its vessels are equipped with underwater wings that allow them to glide above the water surface--a method which, according to the company, enables more efficient energy use and a smaller battery.

“We’ve shown that our hydrofoil tech is the key to make electric boats commercially viable,” Candela’s chief executive officer Gustav Hasselskog said in a statement.

C7 LineupSince 2019, Candela has led electric boat sales in Europe with the foiling C-7 sportsboat. That model hit speeds of 55 km per hour when its foils lift it out of the water. Its manufacturers say it travels further and smoother than other electric boats.

The foils reduce water friction - and the effect of waves slamming into the boat - cutting energy consumption by 80% compared to normal diesel-powered boats and extending the craft’s range to 90 km (56 miles). The price tag is in the range of 250,000 euros. Candela C-8, a day cruiser that the company more recently has reportedly close to 100 orders for, just three months after launch.

Here’s a look at how the Candela Seven runs