Candela Speed Boat

High-Level Overview

Candela is a technology company specializing in hydrofoiling electric boats and ferries for leisure and commercial use, revolutionizing sustainable water travel by cutting energy use by 80% compared to traditional vessels.[1][3] Their flagship products, like the Candela C-8 and P-12, serve private owners, ferry operators, and coastal commuters, solving problems of polluting, costly, and inefficient fossil fuel boats with silent, fast, zero-emission alternatives that reduce road congestion and emissions.[1][2] With $33.4 million in revenue, 165 employees in Lidingö, Sweden, and a growing team of over 200, Candela demonstrates strong growth momentum, including being the best-selling electric boat in Europe (Candela Seven) and achieving milestones like the first all-electric Mediterranean crossing.[2][3][4]

Origin Story

Candela was founded in 2014 by Gustav Hasselskog, CEO, who posed the question: Why can’t electric boats outperform fossil-fuel ones?[1][3] Hasselskog, drawing from expertise in hydrodynamics, control theory, machine learning, and engineering, led five years of R&D to develop a stable computer-controlled hydrofoil system—the key breakthrough for their first boat, the C-7, enabling smooth "flight" over water.[3][4] Early traction came from this innovation, growing into a global team of over 200 from 20+ nationalities, now production-constrained by high demand rather than limited interest.[3]

Core Differentiators

• Hydrofoil Technology: Lifts the entire boat out of the water on underwater wings, slashing drag and energy use by 80% for longer range and higher speeds than combustion boats.[1][3][4][5]
• Advanced Control System: Computer adjusts foils 100 times per second using sensors for waves, wind, and current, providing jet-fighter-like stability and a smooth ride unmatched by conventional vessels.[3][4]
• Efficiency and Sustainability: Zero-emission, silent operation outperforms traditional ferries in speed, cost, comfort, and environmental impact, enabling viable electric routes like Mediterranean crossings.[1][4]
• Scalable Production Focus: Addressing challenges in ramping output and costs to match fossil fuel boats, with strong market demand for models like the best-selling Candela Seven.[3]

Role in the Broader Tech Landscape

Candela rides the global shift to fossil fuel-free transport, leveraging electric propulsion and aerospace-inspired hydrofoils to unlock waterways for efficient, low-emission travel from Stockholm to Bangkok.[1][3] Timing aligns with rising demand for clean maritime options amid climate regulations and urban congestion, where traditional ferries fail economically on shorter routes.[4] Market forces like EV battery advancements and hydrodynamics expertise favor them, positioning Candela to boost coastal connectivity (e.g., Costa del Sol) and influence ecosystem-wide adoption of electric vessels.[1][4]

Quick Take & Future Outlook

Candela's path forward centers on scaling production to meet demand, driving down costs, and expanding ferry lines like the P-12 for commercial routes.[3] Trends in sustainable mobility, advanced batteries, and AI-driven controls will propel their growth, potentially dominating electric hydrofoiling as waterways electrify. Their influence may evolve from leisure pioneer to infrastructure enabler, fully realizing Hasselskog's vision of outperforming fossil fuels on water.[1][3] This positions Candela as a leader in the blue economy transition.