British startup DRIFT Energy has secured £4.65m ($5.9m) in funding to develop a pioneering sailing vessel. The vessel will harness deep ocean wind to produce green hydrogen at sea.
Octopus Ventures and Blue Action Accelerator Lead Funding
Octopus Ventures leads the initiative, with support from the Blue Action Accelerator. They aim to begin vessel production in 2025. Moreover, the funds will bolster DRIFT’s vessel design programme, support team growth, and enable new partnerships.
First Green Hydrogen-Producing DRIFT Ship
The funds will be used to bolster DRIFT’s vessel design programme, support team growth, and enable the onboarding of new partners in 2025. The company aims to begin vessel production next year, with the goal of creating the first green hydrogen-producing DRIFT ship.
Ben Medland, DRIFT Founder and CEO, expressed enthusiasm for the investment from Octopus Venture and Blue Action Accelerator. The funding enables DRIFT to drive momentum into the next phase of its mission.
Scaling Groundbreaking Technologies
George Northcott, Co-Founder of Blue Action Accelerator, emphasized the importance of DRIFT’s mission. DRIFT creates mobile renewable energy from the world’s seas, delivering it to island communities and power-hungry ports.
Expanding the DRIFT Team
In 2022, DRIFT made two strategic hires to enter the hydrogen industry:
- Firstly, DRIFT appointed Neal Pawson as Head of Vessel Programme
- Secondly, DRIFT appointed Michael Mackay as Head of Vessel Design
Consequently, these appointments strengthen DRIFT’s team to drive the development of its innovative hydrogen-producing vessels.ngthen DRIFT’s team to drive the development of its innovative hydrogen-producing vessels.
The Future of Green Hydrogen Production
DRIFT Energy’s funding success marks a significant milestone in developing sustainable hydrogen production methods. By harnessing deep ocean wind, the company aims to revolutionize the green hydrogen industry.
As DRIFT continues to innovate, it positions itself to play a crucial role in transitioning to a sustainable future. Ultimately, the company leverages the vast potential of the world’s oceans to produce clean, renewable energy.
Read more: First Hydrogen-Fueled Vessel in the US Receives US Coast Guard Approval to Enter Commercial Service
