SWITCH Maritime LLC, a US-based company developing electrified, zero-emission ferries powered by battery and hydrogen fuel cell, has raised $10 million in a Series A round led by Nexus Development Capital to grow its fleet, the company announced.
SWITCH’s recent fundraise comes on the back of the completion of its flagship zero-emission vessel, Sea Change, which will operate as part of the public Water Emergency Transportation Authority’s (WETA) SF Bay Ferry fleet. The new 75-passenger ferry uses hydrogen fuel cells to produce electricity to power electric motors for distances up to 300 nautical miles, and speeds up to 15 knots, with the added benefits of no exhaust smoke and very little vibration and noise. While the only emission is pure water vapor, this technology allows for new ferries to have the same performance capabilities as diesel-powered vessels, and without the need for installing large-scale battery charging infrastructure on the shore.
Having received regulatory approval in 2022 from the United States Coast Guard (USCG) for hydrogen powertrain and storage systems, Sea Change represents the culmination of years of cooperation with the USCG focused on safely integrating hydrogen and electric powertrain systems on passenger vessels and paves the path for SWITCH’s fleet expansion plans.
Establishing a regulatory framework for this technology unlocks the possibility of progressing to larger ferry designs capable of operating at higher speeds on longer routes.
SWITCH is actively working on additional expansion designs for 150-, 300- and 450-passenger zero-emission ferries, leveraging the lessons learned from its flagship vessel and is ready to grow its fleet in key ferry markets across the US.
About the Sea Change ferry
Launched in August at All American Marine shipyard in Bellingham, Washington, the Sea Change is a 70-foot catamaran ferry designed by Incat Crowther, equipped with a hydrogen fuel cell system from Zero Emissions Industries (ZEI), which includes 360kW of fuel cells from Cummins and 242kg of hydrogen storage tanks from Hexagon Purus, and a 600kW electric propulsion system from BAE Systems which includes 100kWh of lithium-ion battery storage from XALT. The construction management was led by the Hornblower Group.
The project is also partially funded by a $3 million grant from the California Air Resources Board (CARB), administered by the Bay Area Air Quality Management District (BAAQMD), that comes from the California Climate Investments initiative, a California statewide program that puts billions of cap-and-trade dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health and the environment—particularly in disadvantaged communities.
Additionally, the project received the first-ever loan guarantee under BAAQMD’s Climate Tech Finance program, which seeks to reduce greenhouse gases by accelerating emerging climate technologies. In partnership with the California Infrastructure Economic Development Bank and the Northern California Financial Development Corporation (NorCal FDC), the Climate Tech Finance team led a technology qualification and greenhouse gas analysis that deemed SWITCH eligible for a loan guarantee. This loan guarantee supported SWITCH in securing a $5 million construction and term loan with KeyBank, which enables SWITCH to bring this important project to completion.
Photo of SWITCH Maritime
