The British start-up Drift Energy has received seed capital of €5.45m from the capital company Octopus Ventures.
The company is planning a fleet of sailing ships that use wind power to sail across the sea and produce sustainable hydrogen in the process. The first ship is due to be launched in 2025.
Drift Energy’s concept envisages a 60-metre-long catamaran with space for 4 tons of hydrogen on board. This is produced by an electrolyser on board, which is driven by underwater turbines. The energy-rich gas is to be stored in standard FEU containers; as soon as the capacity is utilised, the ship delivers the full tanks to land or to bunker ships.
According to Drift Energy, the advantage of this technology is that the hydrogen can be produced completely renewably. The company compares its idea to plans to use offshore wind turbines to generate hydrogen – with the difference being that the catamarans are mobile so that they can always operate in optimal wind conditions.
AI on board the drift catamarans
To maximise its efficiency and generation capacity, Drift plans to use AI and has developed an algorithm to guide the vessel. The so-called “Goldilocks algorithm” will enable the catamaran to take advantage of optimal conditions and head for the next port as soon as the tank is full. The hydrogen could be used in industry or as fuel in shipping, the company emphasised, pointing to hurdles in decarbonising the industry – including the high energy requirements.
Drift Energy, founded in 2021, has received initial seed capital of £4.65m (€5.45m) from venture capital firm Octopus Ventures.
“We are excited about Drift and the team’s potential to be at the forefront of developing a truly innovative source of renewable energy,” said Mat Munro, investor at Octopus Ventures. “We support companies that are building a sustainable planet and Drift’s ambitions are exactly what we are looking for. We can’t wait for the day the first ship sets sail on its maiden voyage.”
The start-up is also supported by Blue Action Accelerator, a project set up by Founders Factory, which includes Florida Atlantic University and the Prince Albert II of Monaco Foundation.
“This funding allows us to move into the next phase of our mission with momentum,” said Ben Medland, founder and CEO of Drift Energy. The company had previously received funding from Innovate UK, the UK government’s innovation agency.
