Belfast-based maritime tech company secures £2m funding from HSBC UK
Artemis Technologies is taking Northern Ireland’s maritime capabilities into an exciting new era as it brings its ‘flying’ electric foiling boats to international markets with £2 million backing from HSBC UK.
Just a stone’s throw away from where the Titanic was built, Artemis Technologies is using the funding to increase production capacity and commence serial production of its electric foiling workboats in response to growing demand.
The company – which launched the world’s first commercially viable, 100 per cent electric foiling workboat last year – has already received a number of orders globally, where the Offshore Wind, Workboat, Patrol and Smart Mobility industries have shown great interest in their zero-emission vessels. The business is also currently developing a high-speed passenger ferry, due to hit the water next year.
In the last 12 months, the company has doubled in size and that growth is set to continue into 2024.
Kiera McSorley, Finance Director at Artemis Technologies, said: “This funding will enable us to carry out our global growth strategy and further establish Artemis Technologies as a market leader within the maritime industry.
“We’re proud to be making the most of Belfast’s rich maritime and industrial heritage as we bring this incredibly exciting new era to the fore.
“The potential impact of low emission, smooth and fast travel that our eFoiler boats provide should not be underestimated. We hope that our technology will help to transform both the day-to-day operations and environmental impact of our customers, across the globe”
Daniel Wilson, Deputy Head of Corporate Banking at HSBC UK, said: “Companies everywhere are looking to become more sustainable and the maritime industry is no exception. We are seeing exciting innovation within the sector as businesses rise to the challenge. Artemis Technologies is a great example of a business working to tackle this challenge, and we’re proud to be using our strengths in international banking to help the company expand, quite literally, overseas.”
Artemis Technologies’ electric foiling boats are completely emission free in operation, providing significant operational savings to businesses after an initial investment when compared to their diesel counterparts.
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Notes to Editors
Artemis Technologies' social channels are:
Artemis Technologies is a world leading high-performance maritime design and applied technologies company committed to decarbonisation of the maritime industry. With skills in simulation, lightweight structure engineering, electronics, hydraulics, aerodynamics and hydrodynamics, Artemis Technologies develops high-speed zero-emission vessels and propulsion systems to help ensure a sustainable maritime future.
The Artemis eFoiler® platform is a game changer for the decarbonisation of high-speed maritime transport which offers a transformative, zero-emission solution, providing a range of operator and passenger benefits. The patented Artemis eFoiler® platform integrates a high-power density electric drivetrain into an autonomously controlled hydrofoil; combining proven technologies from yacht racing, motorsport, and the aerospace industry. These technologies enable commercially viable range for high-speed electric vessels and enable realisation of operational benefits alongside wider economic, ecological, and social benefits.
