Startup Receives Funding for a Fleet of Sailing Ships to Produce Hydrogen
A UK startup, Drift Energy, has received seed round funding for its vision of a fleet of sailing ships operating around the globe generating and supplying green hydrogen. The funding will be used to complete the design program with the goal of laying the keel for the first vessel in 2025.
Drift Energy highlights that hydrogen produced by electrolysis using renewable energy has a much lower carbon footprint than hydrogen produced from natural gas through steam methane reforming. The company likens its vision to the plans for offshore wind turbines to produce hydrogen with the difference being that its generation capacity is movable to stay with the best wind conditions.
The concept uses modern, high-performance sailing vessels cruising around the world harvesting energy from underwater turbines. The energy is used to feed an on-board Megawatt class electrolyzer to produce and store Gigawatts of green hydrogen. The hydrogen will be stored in standard 40-foot containers and will be transferred when its hydrogen tank is full to shore or bunker vessels.
The concept envisions a catamaran approximately (60 meters) in length. It would have space for tanks with a capacity of approximately 4 tonnes of hydrogen.
To maximize its efficiency and generation capacity, Drift plans to harness AI and developed a vessel routing algorithm. Called “The Goldilocks Algorithm,” Drift says it “enables the yacht to find and stay in optimum weather conditions, returning to port at the precise moment that its hydrogen tank is full.”
The company links its production to hard to decarbonize heavy industries including shipping that will require large amounts of hydrogen to make the called for energy transition. They are saying the hydrogen produced on their vessels could be supplied to industry or into the supply chain for shipping.
Started in 2021, Drift Energy reports it has now attracted £4.65 million (US$6 million) from Octopus Ventures, a UK-based venture capital firm and also received support from the Blue Action Accelerator, a project set up by venture investors Founders Factory. Miami Dade County and the Port of San Diego as well as the Prince Albert II of Monaco Foundation are among the participants in the accelerator along with Florida Atlantic University and the University of the Bahamas.
The founders of Drift Energy said the seed round funding will bolster the vessel design program. “This funding enables us to drive with momentum into the next phase of our mission,” said Ben Medland, Founder and CEO of Drift Energy.
The company had previously been awarded funding from Innovate UK, the UK government’s innovation agency.