Archipelago Expedition Yachts seeks funding
Archipelago Expedition Yachts has opened an initial seed investment round. It’s looking to further develop its zero-carbon technology, particularly the hybrid propulsion and methanol fuelling solutions.
“This is a pivotal moment in the journey of Archipelago Yachts,” says Dr. Stephen Weatherley, founder. “We are aiming for carbon-neutral long-distance propulsion by 2040, and this investment round will allow us to accelerate our pathway towards this goal. In addition, plans for this investment will allow us to increase our marketing activities, grow our presence in other markets such as the Americas and increase our team headcount.”
As the leisure marine industry seeks low-carbon alternatives to diesel, Archipelago is developing its solutions alongside naval architects, Chartwell Marine.
Weatherley recently told MIN that competing ‘fuels of the future’ including hydrogen, ammonia, LNG and battery power, are holding the industry back. “All of the fuels have advantages and disadvantages, but we feel the leisure industry only has two viable choices: battery, for short distance operations, and methanol for longer distance and higher speed operations.
“As soon as the boat building industry picks a fuel (eg methanol), the infrastructure will spring up very quickly, and demand for green methanol will grow, meaning production will increase. Clearly we may be wrong in our gamble that methanol is the future, but I feel it’s time to pick one and start moving forward.”
Each vessel in Archipelago’s range is built from low-impact aluminium and designed from the outset as a hybrid, ocean-capable motor catamaran, which the company describes as ‘engineered to push the boundaries of capability as well as providing luxurious living spaces’.
As with all investments, Archipelago’s offer comes with the caveat: don’t invest unless you’re prepared to lose all the money you invest. This is a high risk investment and you are unlikely to be protected if something goes wrong. Contact investment advisors for more information. Archipelago is also considering crowdfunding and asking potential investors to register their interest.
