New Zealand electric hydrofoil ferry builder secures first order from US customer

New Zealand-based electric marine company Vessev will build new electric hydrofoil vessels for ferry operator FlyTahoe of Lake Tahoe in California.

The company, led by co-founder and CEO Eric Laakmann, is entering the US market with FlyTahoe as its first American customer and plans demonstrations in New York City, Washington D.C. and Lake Tahoe as it expands sustainable electric water transit.

Vessev opened its first international office in the US in 2025 to meet increasing demand for its hydrofoiling technology.

Laakmann says FlyTahoe has purchased a number of boats that will be part of a zero-emission public transport service.

Vessev – the electric hydrofoil company – raises $19 million

Vessev has raised $19 million in a Series A and follow-on financing round to accelerate production of its VS-9 vessel line, expand its global team and support plans to manufacture in the United States. The round was led by Blackbird Ventures, with participation from new investors GD1 and Rypples, alongside existing backers K1W1, Icehouse Ventures, Shasta Ventures and NZVC.

The strategic move into the US market underpins a period of expansion by the company. Vessev announced in March it would introduce its ‘flying’ vessels to Perth, Australia, with a new client.

Vessev’s first commercial vessel, a VS-9, went into service with Fullers in Auckland in 2025.

Electric ferries on Lake Tahoe

The boats will be of all-FRP construction. Each ferry will accomodate up to ten passengers and a helm operator.

The all-electric propulsion delivers a claimed top speed of 30 knots and a range of 50 nautical miles at a service speed of 25 knots.

Power will be supplied by batteries equipped with fire protection systems and other safety features.

Thanks to the hydrofoil design, the vessel’s hull can remain 50 cm above the surface of the water while underway, thus allowing the vessel itself to attain high transit speeds without being affected by waves even in bad weather.

The vessels will form part of FlyTahoe’s proposed sustainable water transit network, which is highlighted in the Lake Tahoe Regional Transportation Plan and remains subject to Tahoe Regional Planning Agency permits and approvals. Vessev said FlyTahoe is actively working to obtain the permits and approvals.

VS-9 vessel specifications

• Construction: All-FRP (fibre-reinforced plastic)
• Capacity: Ten passengers plus one helm operator
• Top speed: 30 knots
• Service speed: 25 knots
• Range: 50 nautical miles at service speed (light load)
• Foil clearance: Hull lifts 50cm above the water surface
• Safety features: Battery fire protection systems