Switch Maritime Raises $10M in Series A Funding
Summary
Led by Pace Ralli, CEO, Switch Maritime is focused on enabling private and public municipal ferry operators to transition away from their carbon-intensive diesel-powered fleets, while reducing operating and fueling costs over the lifetime of their vessels. By offering operators capital-efficient access to fuel cell and battery electric zero-emissions vessels along with packaged fueling/charging solutions, it helps operators overcome the complexity of the rapidly evolving technology and regulatory landscape. Sea Change will operate as part of the Water Emergency Transportation Authority’s (WETA) San Francisco 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 – similar capabilities as diesel-powered vessels – with the added benefits of no exhaust smoke and very little vibration and noise. Specifically, the company provides operators with three key avenues of support: These baseline services can be complemented by grant application writing and tax incentive administration, preventative & unplanned maintenance of new power systems onboard, management of all necessary permitting and crew training as well as next-generation carbon management and reporting.