Electric Hydrofoils: Redefining Sustainable Maritime Transport
In March Candela, a Swedish electric boat builder focused on developing electric hydrofoil vessels, announced that it had secured €25M ($26.6Mm) in funding from Groupe Beneteau, EQT Ventures, Ocean Zero, and Kan Dela AB. Almost simultaneously the company announced the first customer agreement outside of Europe for its flagship P-12 ferry model, a promising complement to the previously awarded pilot opportunity with the Stockholm Ferry Service.
Candela’s recent successes draw attention to the growing interest in the electrification of marine transportation and the unique value proposition of electric hydrofoils. While hydrofoils have existed commercially for decades, a new wave of technologists is tackling the unique limitations of these precision vessels to unlock greater efficiency, comfort, and speed. Elsewhere in the market, Navier and Artemis Technologies are also making promising developments on electric hydrofoils as they compete for a slice of the maritime decarbonization pie. In this piece, we'll take a look at the opportunities for electric hydrofoil vessels and three of the companies making waves.
Setting the Stage: A Need for Speed and Sustainability
The global maritime industry is a significant contributor to greenhouse gas emissions, accounting for roughly 3% of all emissions annually – a number that could balloon to more than 10% by 2050. Traditional, diesel-powered vessels leave a heavy environmental footprint. Although trans-oceanic shipping accounts for the largest portion of maritime emissions, ferries move over 4 Billion people per year, nearly as many as airplanes, and that comes at a cost. For example in Europe ferries account for only 3% of vessels and yet 10% of emissions. Electric alternatives offer a compelling solution, but they need to be fast, efficient, and cost-effective to gain traction. This is where hydrofoils enter the scene.
These innovative vessels utilize submerged wings (hydrofoils) that lift the hull out of the water at speed. This dramatically reduces drag, leading to lower energy consumption and faster journeys. A June 2022 study from Chalmers University of Technology, Sweden, demonstrated that hydrofoils possess the potential to reduce fuel and energy consumption by 80%. During real-world testing, FOILER, a consumer hydrofoil developer, collected 380,000 data points on energy consumption. The findings revealed that at speeds below 10 knots, their hydrofoil consumed slightly more energy than traditional hull configurations. However, once the hydrofoil lifted off at 11 knots, energy consumption dropped by 25% as it reached its optimal cruising speed. In contrast, traditional hull configurations experienced a nearly exponential increase in energy consumption as speed increased. At 22 knots, its optimal cruising speed, FOILER's hydrofoil system consumed 60% less energy than a traditional hull configuration traveling at the same speed, highlighting the energy efficiency advantages of hydrofoil technology.
While the lift produced by hydrofoils contributes significantly to their efficiency, it also restricts their carrying capacity, and electric versions are currently range-constrained by available battery technology. Together, these factors limit the routes on which hydrofoils can operate effectively and economically. Even still, the benefits that hydrofoils provide in efficiency, speed, and smoothness of ride merit examination.
Although hydrofoils were first employed over 150 years ago, the first meaningful wave of commercial adoption did not arrive until the 1950s. Since then the popularity of this technology has been relatively stagnant due to cost and operational limitations. Hydrofoils are precision craft that historically have been costly to both build and maintain. However tremendous advancements in materials, propulsion, and active management systems are creating a significant opportunity for hydrofoils to carve out new relevance across a variety of applications.
The marriage of electric propulsion and hydrofoil technology creates a powerful combination for sustainable shipping. The electrification of shipping presents a significant opportunity to revolutionize the industry. This transformation hinges on the thoughtful application of innovative technologies and business models.
Market Opportunity: The Electric Boat Boom
The market for electric vessels is projected to grow at a compound annual growth rate (CAGR) of 15-18% jumping from around $4 billion in 2022 to over $16 billion by 2030. The electric boat market is mirroring the electric car revolution of the last decade, with a surge of startups vying to become the Tesla analog for maritime innovation and scale.
Scandinavia is a hotbed for innovation in electric boating. Swedish companies like Candela, Strana, X-Shore, and Pol are serving up offerings both in consumer and commercial variations. In Norway, not only are there startups in market such as Hyke and Evoy, but through public and private efforts Norway has already built up a fleet of over 80 active ferries including Ampere which has been ferrying cars and passengers alike on all electric power since 2015.
As has been the case with land-based EVs, limitations related to range, charging infrastructure access, and price are substantial hurdles for maritime electrification. While continued innovation in battery, charging, and electric powertrain technologies will prove valuable for EV business models on land and water, existing shore power access and predictable repeatable routes mean that ferries and short-haul cargo routes are ripe for disruption and decarbonization by electric vessels. Electric hydrofoils, with their potential for substantial energy savings, lower operating costs, higher transit speeds, and emission reductions, are well-positioned to capture a significant share of this market.
In bustling cities across the world, where traffic congestion chokes streets and air quality suffers under the burden of thousands of cars and trucks, the market opportunity for electric hydrofoils is reaching a tipping point. These vessels, particularly as ferries or short-haul freight carriers, offer a swift, efficient alternative to traditional road transport. New York is embracing these opportunities, as initiatives including "Blue Highways" and "Green Boats" underscore a growing recognition of waterways as vital arteries for sustainable mobility and freight transit.
Globally, this narrative resonates and others are following suit. Cities from Venice, with its iconic waterways, to San Francisco, to major ferry systems Hong Kong and Istanbul, each servicing over 25 million passenger trips per year, are all adopting and implementing plans to launch and expand green ferry and freight programs, signals of a worldwide shift toward cleaner maritime transport. This transition is not just about innovation; it's a response to the urgent need for affordable sustainable solutions in the densely populated coastal regions where over 800 million people live.
These efforts are bolstered by data showing that existing waterborne transportation, including ferries and barges, already offers some of the most efficient options for moving people and goods. For instance, analysis by the UK’s Department for Energy Security and Net Zero found that foot passenger ferry trips emit only .07 pounds of CO2e per mile – significantly less than subways (50% more emissions), local buses (4 times more), cars (9 times more), and even domestic flights and cruises (nearly 13 times more). Similarly, a 2017 Texas A&M study showed that freight movement by inland waterways is 35% more efficient than trains and a whopping 5 times more efficient than trucks.
Original data source: UK Government, Department for Energy Security and Net Zero
The burgeoning interest in efficient electric watercraft, supported by governmental incentives and public-private partnerships, presents a compelling opportunity for electric hydrofoil developers. These vessels, with their reduced-wake, high-speed, low-emission, and energy-efficient designs, are poised to revolutionize the ferry segment along with its 4.25 billion annual passenger trips and $17 billion in revenue. However, that’s not the only segment that hydrofoil companies are angling to disrupt, the benefits of hydrofoils are being applied to recreation, crew transport, search & rescue, and even targeted cargo routes.
As governments globally advance sustainability initiatives, the electric hydrofoil market is poised for substantial growth. This surge is driven not only by the push for environmental improvements but also by compelling economic benefits—such as lower maintenance costs and operational efficiencies. Faster routes and quieter operations enhance the business case, making electric hydrofoils an attractive option for ferry operators and commercial ventures seeking profitable, sustainable solutions. Within the electric hydrofoil segment, three companies are leading the pack: Candela, Navier, and Artemis Technologies. Each takes a unique approach to design, funding strategy, and technology. We'll delve deeper into these frontrunners in the following section.
Candela: Leading the Charge
Candela's story began in 2014 with a visionary quest. Gustav Hasselskog assembled a team of experts to crack the elusive "cost-range-speed" formula for electric boats. Fast forward to today, and Candela's research-driven approach has yielded impressive results. As governments around the world invest in initiatives to electrify their maritime fleets and activate underutilized waterways, Candela stands out as a pioneering force in this rapidly evolving landscape.
Fresh off the recently announced €25M ($26.6Mm) funds raised and latest customer agreements for the flagship P-12, Candela, the Stockholm-based hydrofoil startup, is building momentum and positioned to lead in the electric hydrofoil segment. In fact, through the most recent funding, Candela secured Groupe Beneteau, a €1.46 billion global boat maker, as a strategic investor. With 15 factories and over 8,000 yachts built annually, Groupe Beneteau's market-leading expertise will undoubtedly accelerate Candela's commercial scaling efforts. This heavyweight addition, coupled with fresh capital, positions Candela to launch the next chapter of commercial scaling with a full head of steam.
Candela's innovative approach to electric hydrofoils is evident across both their consumer and professional/commercial product lines. The C-7 and C-8 models, with 40-55nm of range, have already sold more than 70 units as recreational boaters gravitate towards efficient electric luxury craft. The P-12 ferry models have successfully attracted major customers, including the Stockholm Ferry Service and its rapidly growing ridership, with additional plans to target North American customers by showcasing the P-12's capabilities in the San Francisco Bay area.
Entering serial production at a competitive €1.7 million price tag (comparable to traditional combustion engine-powered ferries), the P-12, a ferry model with 3 configurations carrying up to 30 passengers, sets itself apart through lower operating expenses. Operators can expect not only a 50% reduction in cost per passenger kilometer,18 but also service life emissions reductions of 97.5% compared to diesel ships. In addition to efficiencies and emissions reductions, the P-12 will offer significant time savings for commuters. For example, the Stockholm Ferry Service selected the P-12 to service the route between Stockholm city center and the suburb of Ekerö18 in-part because of its promise to halve the travel time on that route. Quick turnaround times and higher travel speeds, achieved without disruptive wakes, make the P-12 a compelling choice for operators seeking to reduce costs, emissions, and travel times.
Through partnerships and in-house innovation, Candela has differentiated itself from competitors and unlocked the ability to tackle both commercial and consumer product lines effectively. Candela’s approach starts with the retractable hydrofoil and frame built of carbon composites. Not only does the carbon composite build reduce weight, but it also allows for active manipulation by the flight control system to optimize performance. The flight control system, also designed in-house, rapidly processes data from a variety of onboard sensors to adjust thrust and hydrofoil angle up to 100 times per second to optimize for stability and control through banked turns, waves, acceleration, and more. The proprietary direct drive contrarotating C-POD motors top off the technology stack by providing exceptional efficiency, 4x the thrust density and 23% increase in range, and remarkable durability needing service only once per 3,000 operating hours. Candela's partnership with Polestar to incorporate leading-edge batteries into their boats further highlights their commitment to leveraging the latest technology to enhance their offerings.
As the electric hydrofoil market continues to gain momentum, Candela has positioned itself as a frontrunner through a strategic combination of proprietary innovation, capital efficiency, and carefully cultivated partnerships. The company’s phased capital-raising strategy, aligning funding with key milestones, has enhanced capital efficiency and facilitated strategic partnerships, as seen in the most recent round and the successful attraction of strategic investment by Groupe Beneteau, validating their ability to attract industry leaders as the company ramp-ups to serial production.
Candela's success hinges on continued execution. Strategic partnerships like the ones they have with Polestar and Group Beneteau will be key to accelerating growth. Securing new customer contracts as the P-12 production ramps up, and continuing to prove the competitive value of their offerings will be crucial. Exploring freight pilot opportunities, particularly for targeted port-to-pier deliveries where hydrofoils can effectively displace short-haul trucking, holds promise for further market expansion.
With a strong technological foundation, strategic partnerships with industry leaders, a focused approach to scaling, and a clear vision to revolutionize sustainable maritime transportation, Candela is charting an ambitious course towards becoming a dominant force in the burgeoning electric hydrofoil market.
Artemis Technologies: Building on legacy
Artemis Technologies doesn't just build electric foiling craft, they build upon a legacy of excellence. Founded by the team behind Artemis Racing, a renowned America's Cup contender, they are driven by a championship pedigree, a relentless pursuit of innovation, and a mission to lead the decarbonization of the maritime industry.
Though privately funded, Artemis has been awarded significant public funding for its innovative technologies and decarbonization efforts. In 2020, the Artemis-led Belfast Maritime Consortium secured a £33 million grant by the UK's Strength in Places Fund to develop zero-emission high-speed ferries. Following this, in September 2023, Artemis secured a £15.5 million award from UK Government's Zero Emission Vessel and Infrastructure fund for their "Electric Orkney" project, a three-year trial deploying electric foiling ferries and charging infrastructure to decarbonize inter-island transport in Scotland’s Northern Orkney Islands. By securing public funding, Artemis Technologies has not only validated its legacy of excellence in maritime engineering but also built real momentum towards commercialization.
Artemis Technologies' portfolio of electric foiling vessels has been designed to service a collection of use cases that are most suited to the benefits offered by hydrofoils. The flagship EF-24 Passenger ferry, capable of carrying up to 150 passengers with a top speed of 36 knots and a cruising range of 95 nautical miles, is poised to revolutionize city-to-city commuter routes like the Northern Ireland pilot route between Belfast and Bangor launching this year. Expanding its impact beyond passenger ferries, Artemis is also pioneering Crew Transfer Vessels (CTVs) for the offshore wind industry as well as pilot and workboat variations. Their EF-24 CTV is undergoing real-world trials to demonstrate safe operation in challenging conditions, paving the way for greener CTV operations everywhere. With forecasted fuel savings of up to 85% compared to conventional high-speed diesel ferries, the EF-24 showcases the transformative potential of Artemis' hydrofoil technology.
To deliver on the company mission, the Artemis team called upon multiple disciplines, from Naval Architecture to Computational Fluid Dynamics, creating the holistic eFoiler system. Starting with the Artemis Team’s legacy area of expertise, the vessels are designed of lightweight, high-strength carbon composites, right down to the retractable hydrofoil which also features a replaceable leading edge. Artemis also has developed its own proprietary autonomous flight control system that pairs with a state-of-the-art collision avoidance system that actively identifies submerged and semi-submerged objects including wildlife, one of the leading concerns with hydrofoil operation. The purpose-built fully submerged, self-cooled, electric drivetrain, which operates at 97% efficiency, is powered by the novel marinized 800v battery system. Together these systems create an incredibly smooth, efficient, and robust platform for their hydrofoil offerings.
Artemis’ commitment to innovation extends beyond vessel design. Artemis Technologies has developed industry-leading simulation capabilities, allowing for the optimization of control strategies, software architecture, and hardware integration before deployment. This rigorous approach ensures the seamless performance and safety of their vessels in real-world maritime conditions.
Artemis Technologies has successfully leveraged its origin in hydrofoil racing to establish brand credibility within the maritime industry. Building on this foundation, they've fostered a strong network through the Belfast Maritime Consortium, securing key relationships with government and industry leaders. This network includes government agencies, universities, and industry leaders, all advancing a collaborative approach to development and integration.
By securing grants, public funding, and winning competitions Artemis has not only validated its technology and credibility as an innovator, but has also secured crucial access to steady capital and trust with government partners. This approach also generates valuable reputational capital which accelerates the development of commercial pathways. Notably, the longer-term pilot contracts provide real-world testing in challenging environments like the North Sea, allowing the company to refine its core offerings and establish top-tier credibility with potential customers.
Artemis' efforts to validate their eFoiler platform beyond the most accessible ferry category and across crew transfer, pilot boat, and patrol applications demonstrates a disciplined approach; a focus on similar applications of the core technology that will reinforce learnings. This targeted deployment strategy aims to clearly define ideal use cases and establish the platform's efficacy, defining success criteria and pathways to secure future commercial partnerships.
By prioritizing thorough testing and real-world validation in harsh conditions, Artemis fosters trust and credibility, opening doors to wider market adoption. Their measured approach, which stands in contrast to many venture-backed competitors, may take longer to build momentum but stands to yield lasting success.
Navier: Prepared for takeoff
Navier, a Bay Area based startup, has emerged as a rising contender in the hydrofoil industry, following a distinctly American startup trajectory characterized by rapid scaling and innovation. Founded by MIT engineering graduates, Navier exemplifies the dynamic blend of academic rigor and entrepreneurial spirit. Since its inception, Navier has raised significant capital, over $12 million in its extended seed round, from high-profile investors like Google co-founder Sergey Brin and Ocean-focused VC Firm Propeller. Navier has wasted no time in putting those funds to use. In just one year, the company transformed its 2021 concept into the N30, a production-ready electric hydrofoil, showcasing impressive agility and execution.
Navier's technological innovations are at the core of its competitive edge. The N30 is designed to meet a variety of needs from a core platform, model configurations provide options from luxury dayboat to high-speed water taxi. The dual 90kW/120hpe motors produce efficient thrust not only allowing for a cruising range of 75 nautical miles but also ensuring the vessel is capable of carrying up to 10 passengers comfortably and safely. Remarkably, the hydrofoil design allows for a 90% reduction in energy consumption compared to comparable traditional boat models. This combination of efficiency and performance is catching the attention and imagination of companies like Stripe, which has secured a pilot ferry route with Navier covering the 22-mile commute from Larkspur, in San Francisco’s North Bay, to the company’s headquarters in South San Francisco.
The N30 has experienced remarkable early customer validation. The first year of production (15 vessels) sold out within just two months, showcasing strong market demand. Navier has partnered with the renowned boatbuilder Lyman-Morse to fulfill initial production needs, with plans to ramp up to 400+ units by 2024. This rapid scale-up is supported by the N30's economic and environmental appeal, boasting an operational cost of just 38 cents per mile and remarkable fuel efficiency at 30 MPGe—a tenfold reduction compared to traditional boats.
The company's commitment to showcasing its offerings through a nationwide traveling roadshow has effectively increased brand recognition and made the benefits of electric hydrofoils tangible for both recreational and commercial audiences. Navier's work with defense and government agencies further solidifies its position as a credible player in the industry. Visibility into Navier's behind-the-scenes operations has been relatively limited but, the leadership of CEO Sampriti Bhattacharyya has been instrumental in socializing the company's efforts and championing the team's achievements as they scale up operations.
To keep up this momentum, Navier must demonstrate the long-term sustainability of their rapid growth model and the continued marketability of the N30. The electric car market's recent slump and saturation serves as a cautionary tale. While discussions regarding larger N30 variants for ferry applications are intriguing, careful evaluation is needed. Can they establish value in this segment without overextending resources? Addressing manufacturing scalability and the efficiency of their hydrofoil systems at larger sizes will be crucial.
Ultimately, Navier needs to prove that their rapid ascent is a competitive advantage, justifying future investments to solidify their market relevance and potentially achieve dominance.
Market proofs:
Electric hydrofoils hold immense promise for the future of maritime transportation. They offer the potential to not only revolutionize existing shipping systems through increased efficiency and reduced emissions, but also unlock entirely new cost, emissions, and time-competitive transportation options, potentially displacing traditional methods like land-based travel for specific routes.
However, despite the promise, electric hydrofoils are still a relatively new technology with several known limitations. To bridge the gap between theoretical benefits and widespread adoption, companies like Candela, Navier, and Artemis Technologies need to establish strong market proof points. Each of these companies has pilot engagements, delivering on pilots in real-world settings is the first step in further developing trust and market adoption.
Pilot programs are critical for showcasing the effectiveness of electric hydrofoils in everyday operations. A prime example is Candela's partnership with the Stockholm Ferry Service. This pilot program is set to reduce travel time between Stockholm city center and the booming suburb of Ekerö by half. While this pilot may only serve roughly 150 passenger trips per day, the Stockholm Ferry Service fleet carries over 4,500 passengers per day giving Candela ample room to prove and grow their footprint. Artemis Technologies on the other hand is piloting their tailormade hydrofoil crew transfer vessels with corporate giant Ørsted in the most challenging of conditions in the North Sea Wind Farms. Pilot success under such demanding conditions secures trust for a vast segment of customers with similar or safer use cases.
Beyond successful pilots, companies need a clear scaling strategy to convert pilot successes into wider adoption. Candela again stands out through their strategic alliance with Groupe Beneteau, a major boat manufacturer. Such partnerships provide the production capacity and distribution channels necessary to bring electric hydrofoils to a broader market. Artemis Technologies leads the Belfast Maritime Consortium where they can work closely with government, ferry operators, and corporate entities to ensure both stable support and rapid feedback to allow for design optimization as they scale.
Limitations or areas of concern
While the advantages of electric hydrofoils are compelling, it's important to acknowledge potential limitations that could hinder adoption. While Candela, Artemis Technologies, Navier, and their competitors are all tackling cost, accessibility, ease of use, range, etc. for electric hydrofoils, valid concerns remain concerning infrastructure, regulation, and the complexity of these systems.
Wider adoption hinges on the development of charging infrastructure at key ports and waterways. The range limitations currently cap viable routes for most use cases between 40-80 nautical miles, which further accentuates the need for rapid and accessible charging infrastructure. Although shore power is already a growing area of interest, the higher charge rates, safety and logistical complications presented by fuly electric shipping, and lack of purpose-designed equipment present material challenges for the rollout of necessary charging infrastructure.
Durability is another concern, particularly for the hydrofoils themselves. These precision structures extend from the vessel, making them potentially vulnerable to collisions with debris. Advancements in material sciences, design, and collision avoidance systems are coming to market all the time, but electric hydrofoil companies must prioritize demonstrating the safety, reliability, and resilience of their systems through rigorous testing and real-world deployments.
Regulatory frameworks present a complex hurdle. Integrating these novel electric hydrofoils within existing waterway systems necessitates establishing new guidelines and policies to ensure safe and responsible operations. Existing regulations, such as speed restrictions designed to limit wake damage, may not be directly applicable to hydrofoils. While hydrofoils generate minimal wake, their higher take-off speeds, crucial for efficiency, can sometimes conflict with posted speed limits meant to manage wake risks from traditional vessels. This mismatch creates a challenge in balancing the benefits of hydrofoils with established safety protocols, addressing this mismatch may be key to unlocking the utility of hydrofoils.
By successfully addressing these multifaceted challenges and clearly demonstrating the compelling value proposition of electric hydrofoils through real-world applications, these pioneering companies are well-positioned to unlock a new era of sustainable and efficient maritime transportation. Overcoming the current limitations will be crucial to realizing the transformative potential of this technology.
Innovation areas of benefit:
The electric hydrofoil revolution extends far beyond the design of the vessel itself. To maximize efficiency, range, and overall performance, electric hydrofoils rely on advancements in various technological sectors. Here's a glimpse into some key areas where innovation will play a crucial role:
The key limiting factor of many electric vehicles, battery range limitations are equally applicable to electric hydrofoils. Breakthroughs in battery technology, particularly in terms of energy density, will be instrumental in extending the range of electric hydrofoils, enabling longer routes and larger service zones. Collaborations between electric hydrofoil manufacturers and battery companies, such as the partnership between Polestar and Candela or Tesla and Panasonic in the EV market, show promise for accelerating progress in this area.
Electric hydrofoils benefit greatly from advancements in material science. Lighter yet stronger composites for the hydrofoils themselves and the vessel body can significantly reduce weight, translating to increased efficiency and range. Additionally, advancements in low-friction coatings can further reduce drag, optimizing energy consumption, both when up on glide as well as at sub-take-off speeds.
The world of electric propulsion for hydrofoils is ripe for innovation. Concepts like toroidal contrarotating propellers hold promise for increased efficiency and improved maneuverability. Continued research and development in electric motor design and power delivery systems will be crucial for optimizing performance and maximizing range.
Ubiquitous and efficient charging infrastructure is essential for the widespread adoption of electric hydrofoils. Developments in shore power technology that enable faster and more powerful charging at docks will be key. Additionally, innovative solutions like charging buoys for mid-journey top-ups could extend the operational range of these vessels, particularly for routes beyond the current 40-60 nautical mile safe range.
These are just a few examples of how innovation in interconnected industries will propel electric hydrofoils forward. As these technologies evolve in tandem, electric hydrofoils have the potential to become a truly transformative force in sustainable maritime transportation.
Review and conclusion
Electric hydrofoils represent a transformative force in maritime transportation. Their inherent efficiency, coupled with electrification, promises a significant reduction in emissions, pollution, and spills. This makes them particularly well-suited for densely populated coastal areas, where environmental concerns are paramount. Additionally, lower operating costs and faster travel times offer compelling benefits for both passengers and cargo.
However, widespread adoption faces some near-term hurdles. Access to charging infrastructure remains a challenge, and a lack of familiarity with the technology may breed hesitation. Regulatory frameworks may also require adaptation to accommodate hydrofoils' unique characteristics compared to traditional vessels. Finally, ensuring adequate maintenance and operational readiness for hydrofoils will be crucial.
Despite these challenges, the future appears bright for electric hydrofoils. As emissions standards tighten, charging infrastructure expands, and battery technology advances, trust in the technology is likely to grow. The pleasant ride experience and cost-effectiveness will further incentivize adoption. Early adopters will likely be found in ferry, water-taxi, pilot boat, and luxury recreation segments.
Furthermore, hydrofoils hold promise for short-haul and port-to-pier freight applications. While companies like Boundary Layer have shifted focus away from this market, innovators like Fly-Box are demonstrating its viability. As these use cases gain traction, the role of electric hydrofoils in revolutionizing maritime freight transport can't be discounted.
While near-term challenges exist, advancements in technology, infrastructure, and regulations will pave the way for widespread adoption. Companies like Candela, Artemis Technologies, and Navier, each with their distinct approaches, are at the forefront of this exciting revolution. As they continue to innovate and navigate the evolving landscape, electric hydrofoils are poised to reshape the future of our waterways.
