Flying electric boat company Candela soars closer to its 30-passenger vessel
Swedish electric boat maker Candela is flying high recently, and not just on its hydrofoils. The company has just announced a new $20M investment that will accelerate the rollout of its upcoming 30-passenger electric ferry, the Candela P-12 Shuttle.
Candela has spent years developing and producing electric hydrofoil boats that have so far been used primarily for recreational boating.
Now the company’s P-12 electric ferry is set to bring the same benefits of Candela’s existing designs to the world of commercial boating.
Hydrofoil boats are more efficient than traditional boats because they are designed to reduce drag and increase speed by lifting the hull out of the water. The hydrofoil, which is a wing-like structure mounted on struts below the hull, creates lift when it moves through the water, similar to how an airplane wing creates lift in the air. This reduces the amount of surface area in contact with the water, which in turn reduces drag and improves efficiency.
Because the boat is lifted out of the water, it also experiences less resistance from waves, resulting in a smoother ride and less energy consumption. That means that Candela’s boats are not only much more efficient than conventional combustion engine boats with traditional V-hulls, but they are also several times more efficient than most other electric boats on the market today.
For a commercial operator, that efficiency and comfort make a huge difference in operations. And now that Candela has landed a new round of investment totaling SEK 210 million ($20M), the P-12 is even closer to production.
The investment round was co-led by EQT Ventures and investor duo Joel Eklund (Fosielund Holding AB) and Svante Nilo Bengtsson (Marknadspotential AB), with participation from Ocean Zero LLC, among others.
Candela tells us that the funding will be used to bring Candela’s game-changing, foiling 30-passenger ferry Candela P-12 Shuttle to mass production in the company’s new Stockholm factory.
As CEO and founder Gustav Hasselskog explained, the P-12 will be more than just quicker and cheaper than land transportation; it will also be immediately profitable for the transportation companies that operate it.
This new investment will unlock the potential of underutilized waterways for climate-friendly, high-speed commuting. The P-12 Shuttle will in many cases be faster and cheaper than land transport like bus lines, and it will be profitable for operators from day one.
The cost-effective alternative form of transportation uses its high efficiency to reduce operating costs and bring down the high initial upfront cost of many electric boats that would normally require much larger batteries.
Because the P-12 will use 80% less energy than traditional vessels, its economical battery will still provide a record range of 60 nautical miles on a single charge when cruising at a speed of 27 knots.
The Candela P-12 is expected to launch this summer, when the company says it will become the fastest and longest-range electric passenger vessel in the world.
The advantages of the boat’s electric hydrofoil design primarily benefit its occupants and operators, though the shift away from combustion engine vessels is also a major benefit to the climate. A recent life cycle analysis by Stockholm’s Royal Institute of Technology concluded that a P-12 ferry will emit 97.5% less carbon dioxide over its lifetime compared to a diesel vessel of the same size, including its emissions from production, operations over 30 years and recycling.
I’ve had the opportunity to test out two of Candela’s current models, the C-7 and C-8 electric hydrofoil boats.
Both vessels left me quite impressed (and also made me look good with their ultra easy-to-use controls), though the C-8 was my clear favorite. The larger vessel is even smoother, quieter, and more capable, flying higher above the surface to clear choppier waters. I was able to cut across the wakes of everything from speed boats to cruise ships with only the slightest movement of the boat. A V-hull boat would have been crashing up and down when crossing the same wakes.
In fact, you can check it out in the video of my most recent testing experience below. It’s a doozy to see the two different styles of boats sailing side by side.
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Massachusetts is launching a first-of-its-kind statewide vehicle-to-everything (V2X) pilot program. This two-year initiative, backed by the Massachusetts Clean Energy Center (MassCEC), aims to deploy 100 bidirectional chargers to homes, school buses, municipal, and commercial fleet participants across the state.
These bidirectional chargers will enable EVs to serve as mobile energy storage units, collectively providing an estimated 1.5 MW of new storage capacity. That means EVs won’t just be getting power – they’ll be giving it back to the grid, helping to balance demand and support renewable energy use. The program is also focused on ensuring that low-income and disadvantaged communities have access to this cutting-edge tech.
The Massachusetts pilot is one of the largest state-led V2X initiatives in the US and is designed to tackle key challenges in deploying bidirectional charging technology. By strategically placing these chargers in a variety of settings, the program aims to identify and resolve barriers to wider adoption of V2X technology.
Massachusetts EV owners and fleet operators enrolled in the program will get bidirectional chargers capable of both vehicle-to-grid (V2G) and backup power operations at no cost. Here’s what they stand to gain:
- No-cost charging infrastructure: Bidirectional charging stations and installation are fully covered for participants.
- Grid resilience: With an estimated 1.5 MW of new flexible and distributed storage assets, the program strengthens Massachusetts’ energy infrastructure.
- Clean energy integration: V2G technology allows EVs to charge when renewable energy is available and discharge stored energy when it’s not, supporting the state’s clean energy goals.
- Backup power: EV batteries can be used as backup power sources during outages.
- Revenue opportunities: Some participants can earn money by sending stored energy back to the grid.
Clean energy solutions firm Resource Innovations and vehicle-grid integration tech company The Mobility House are leading the program’s implementation. “With the charging infrastructure provided through this program, we’re eliminating financial barriers and enabling school districts, homeowners, and fleets to access reliable backup power,” said Kelly Helfrich of Resource Innovations. “We aim to create a scalable blueprint for V2X programs nationwide.”
“Bidirectional charging benefits vehicle owners by providing backup power and revenue opportunities while strengthening the grid for the entire community,” added Russell Vare of The Mobility House North America.
The program is open for enrollment now through June 2025. For more details, visit the MassCEC V2X Program webpage. A list of eligible bidirectional vehicles can be found on that page.
Read more: Cambridge’s new solar VPPA is the largest ever by any US city
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Compton, California, has unveiled 25 new electric school buses – the school district’s first – and 25 Tellus 180 kW DC fast chargers.
Compton Unified School District (CUSD) in southern Los Angeles County is putting 17 Thomas Built Type A and eight Thomas Built Type C electric school buses on the road this spring. In addition to working with Thomas Built, CUSD also collaborated with electrification-as-a-service provider Highland Electric Fleet, utility Southern California Edison, and school transportation provider Durham School Services.
Environmental Protection Agency’s (EPA) Clean School Bus Program awarded funds for the vehicles in the program’s first round. EPA also awarded CUSD funds for the third round of the program and anticipates introducing an additional 25 EV school buses in the future.
“I can’t stress enough how vital grants like these are and the need for continued support from our partners in government at the state and federal level to fund additional grants for school districts and their transportation partners that are ready to deliver and operate zero-emission buses,” said Tim Wertner, CEO of Durham School Services.
CUSD, which serves Compton and parts of the cities of Carson and Los Angeles, currently serves more than 17,000 students at 36 sites. The district has a high school graduation rate of 93% and an 88% college acceptance rate. One in 11 children in Los Angeles County have asthma, which makes the need for emissions-free school transportation that much more pressing.
Read more: Thomas Built Buses debuts its next-gen electric school bus
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After cutting lease prices by $200 this month, the Rivian R1S is now surprisingly affordable. It may even be a better deal than the new Tesla Model Y.
Rivian cuts R1S lease prices by $200 per month
Rivian’s R1S is one of the hottest electric SUVs on the market. If you haven’t checked it out yet, you’re missing out.
With some of the best deals to date, now may be the time. Rivian lowered R1S lease prices earlier this month to just $599 for 36 months, with $8,493 due at signing (30,000 miles). The offer is for the new 2025 R1S Adventure Dual Standard, which starts at $75,900.
Before the price cut, the R1S was listed at $799 per month, with $8,694 due at signing. The electric SUV now has the same lease price as the R1T, despite costing $6,000 more.
The 2025 R1T Dual Motor starts at $69,900, essentially making it a free $6,000 upgrade. At that price, you may even want to consider it over the new Tesla Model Y.
Tesla’s new Model Y Launch Series arrived with lease prices of $699 for 36 months. With $4,393 due at signing, the effective rate is $821 per month, or just $13 less than the R1S at $834. However, the 2025 R1S costs nearly $15,000 more, with the Model Y Launch Series price at $59,990.
Rivian is also offering an “All-Electric Upgrade Offer” of up to $6,000 for those looking to trade-in their gas-powered car, but base models are not included.
| Starting Price | Range (EPA-est.) |
|
| 2025 Rivian R1S Dual Standard | $75,900 | 270 miles |
| 2026 Tesla Model Y Launch Series | $59,990 | 327 miles |
To take advantage of the Rivian R1S lease deal, you must order it before March 15 and take delivery on or before March 31, 2025.
The 2025 Rivian R1S Dual Standard Motor has an EPA-estimated range of up to 270 miles. Tesla’s new Model Y Launch Series gets up to 327 miles.
Which electric SUV would you choose? Rivian’s R1S or the new Tesla Model Y? If you’re ready to check them out for yourself, you can use our links below to find deals on the Rivian R1S and Tesla Model Y in your area.
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