Candela is an electric hydrofoil ship manufacturer headquartered in Stockholm, Sweden, specializing in the development and mass production of fully electric hydrofoil boats capable of “flying” on water. The brand was founded in 2014 by engineer and entrepreneur Gustav Hasselskog. The company name originates from the Spanish word “Candela” (meaning flame or light), symbolizing a transformative and shining maritime future. Candela positions itself as the “world’s leading electric hydrofoil ship enterprise”, with its mission to transform maritime transport using aerospace-inspired technology, completely eliminating reliance on fossil fuels in lakes and oceans.
Unlike traditional car brands that debut at auto shows, Candela’s showcase stage is primarily at the CES International Consumer Electronics Show, major international yacht shows, and urban public water transport routes. The company is the global market leader and pioneer in electric hydrofoil technology. Its core innovation lies in combining a computer-controlled hydrofoil system with efficient electric propulsion technology. This lifts the hull above the water during navigation, significantly reducing resistance and achieving high-speed, long-range, and zero-emission operation for electric vehicles at sea. It was rated as one of the “2025 most important inventions” by Time Magazine.
On the capital front, as of March 2026, Candela had completed financing totaling approximately €129 million (approx. $143 million), making it the electric ship manufacturer with the most abundant funding globally.The company currently has approximately 327 employees (2026).Headquartered at Frihamnsgatan 25, Stockholm, Sweden, it has production bases in Sweden and Poland, and has established a sales and service network in North America, the Asia-Pacific region, and other areas.
Candela’s story began in 2014. Founder Gustav Hasselskog posed a bold question in Stockholm: Why can't electric boats be better than traditional fuel boats? He believed that physically, the friction between the hull and the water surface is the key bottleneck of energy consumption, and fundamental breakthroughs can only be achieved by lifting the hull out of the water. With this belief, he assembled a multidisciplinary team covering fluid dynamics, control theory, machine learning, and structural engineering, and began the R&D of the first-generation hydrofoil system.
In 2016, Candela successfully delivered the first batch of fully electric hydrofoil boats, the C-7 prototype, verifying the basic feasibility of computer-controlled hydrofoils. In 2020, the C-7 entered small-batch production and delivery to customers, becoming one of the best-selling electric yachts in Europe.In 2022, the company officially launched the second-generation mass-production product — the Candela C-8. It significantly optimized the C-POD direct-drive pod motor and flight controller, becoming the world's first mass-produced electric hydrofoil recreational yacht to achieve practical range.
2023 was a key year for Candela to move towards commercial water transport. In May of the same year, Candela signed a multi-year battery technology supply agreement with the high-end electric vehicle brand Polestar, jointly launching the Candela C-8 Polestar version, which is produced in the Stockholm factory and sold globally.In 2024, the company completed financing of approximately $14 million and reached a procurement agreement for the first batch of 8 P-12 hydrofoil ferries with the Saudi Arabia NEOM future city project.
Entering 2025, Candela ushered in a full-blown commercialization boom. In April, the company completed $55 million financing, with investors including the International Finance Corporation (IFC) under the World Bank and yacht giant Benetti.In the same year, the P-12 officially entered public commuter service in Stockholm and successively signed multiple international large-scale orders in Thailand, Maldives, Mumbai, and other places.The company delivered over 70 vessels throughout the year, with global cumulative sales of the C-8 exceeding 150 vessels, becoming the best-selling electric hydrofoil yacht globally.
In 2026, Candela entered a new stage of global scaled production. In March, the company completed its largest financing scale to date — €30 million (approx. $34.6 million), to be used for building a second factory in Poland to expand P-12 ferry production.In April, founder Gustav Hasselskog announced his resignation as CEO, to be succeeded by former Chief Strategic Officer Sofia Graflund, who served as an executive at Northvolt and Heart Aerospace. Hasselskog will transition to Executive Chairman.In the same month, Norwegian operator Boreal AS signed a 20-boat order for P-12 electric hydrofoil ferries, setting a record for the company's largest single contract, marking that Candela has moved from “pilot verification” to a new stage of “scaled commercial water transport”.
Candela’s product matrix is divided into recreational yachts and commercial passenger transport segments, both centered on hydrofoil electric technology, covering recreational travel, private yachts, public express lines, tourist shuttles, emergency rescue, and other market segments.
Recreational Yacht Segment features the Candela C-8 as its core representative. The C-8 is Candela’s second-generation mass-produced electric hydrofoil yacht and the world’s best-selling electric hydrofoil boat. The hull is made of vacuum-infused carbon fiber composite material, measuring 8.5 meters in length and 2.5 meters in width, and accommodating 6 passengers. Equipped with Candela’s self-developed C-POD direct-drive pod motor (45 kW rated power / approx. 60 hp) and a computer-controlled hydrofoil system, it lifts the hull above the water at a cruising speed of 22 knots, delivering a range of 57 nautical miles and a maximum speed of 27 knots. The C-8 offers various configuration versions, including hardtop, center console, and Polestar versions. The Polestar version is equipped with the same 69 kWh battery pack and charging technology as the Polestar 2, reducing energy consumption by 80% compared to traditional fuel boats. The C-8 has set multiple records at international events, including the first-ever electric boat intercontinental voyage in May 2025 (crossing from Spain across the Strait of Gibraltar to North Africa).
Commercial Passenger Segment features the Candela P-12 hydrofoil ferry as its core product. The P-12 is Candela’s flagship product for the public transportation market and the world’s first electric hydrofoil passenger ferry put into normalized commercial operation. The hull is also made of carbon fiber composite material, capable of carrying 30 passengers and 1 crew member, with a cruising speed of 25 knots, a single-charge range of approximately 40 nautical miles, and a maximum speed of over 30 knots. The P-12 uses automotive-grade DC fast charging technology, with charging power comparable to Tesla Supercharger stations, requiring only about one hour for a full charge. The vessel has obtained a city speed limit exemption from the Stockholm City Council due to its zero-wake characteristic, shortening a commute that previously took 50 minutes to approximately 25 minutes. In addition, the P-12 has introduced a P-12 Business version, suitable for high-end tourism reception and private charter scenarios.
Diverse Market Versions of P-12 include: 8 vessels ordered by NEOM Future City in Saudi Arabia, 11 vessels ordered by Mumbai Port Operator Jalvimana, 10 vessels ordered by Thai operator Starmigo, 10 vessels ordered by Maldivian operator Ego Shuttles, and 20 vessels ordered by Norwegian Boreal AS — the latter two combined creating the world’s largest order for an electric hydrofoil ferry fleet.
In addition, Candela also has the C-7 first-generation electric hydrofoil yacht (produced from 2016 to 2022, with approximately 32 units delivered), as well as planned P-8 and other short-to-medium term commuter versions to supplement route scenarios with different capacity requirements.
In terms of market performance, Candela has shown explosive growth since 2023. In terms of deliveries and orders, as of early 2025, the company had cumulatively delivered over 70 C-8 yachts. During the same period, global cumulative sales of the C-8 broke through 150 vessels, making it the best-selling electric hydrofoil yacht globally. Regarding the P-12 ferry, as of April 2026, global orders exceeded 65 vessels. Among them, the 20-boat order from Norwegian Boreal AS is the largest contract for an electric hydrofoil high-speed passenger fleet to date. Deliveries will be completed in batches from 2027 to 2030.
In terms of revenue and finance, Candela is a non-listed company and has not disclosed annual revenue figures. However, according to industry analysis, its P-12 business has verified in real Nordic routes that operating costs are significantly lower than those of traditional diesel ferries. Trial operation data shows that the P-12 can reduce carbon dioxide emissions by 94%, increase passenger volume by nearly one-quarter, and reduce operating costs by typically 90% compared to diesel ferries.
Regarding customers and channels, Candela recreational yachts are mainly sold through a global dealer network, with North America, Australia, New Zealand, and the Middle East as core markets. The commercial water transport business adopts a B2G (government) / B2B model, directly engaging with urban public transport operators, tourism companies, and port investors. In multi-party bids, the P-12 has passed more than one year of normalized operation tests in Nordic public water transport networks such as Stockholm, Gothenburg, Oslo, and Trondheim, with daily capacity and operating cost data already translating into follow-up orders.
Candela’s technology system can be summarized by four pillars: “hydrofoil flight control system + efficient electric propulsion + carbon fiber lightweight + platform mass production”. The company is referred to by industry media as “the Tesla of the Boating World”.
C-Foil Computer-Controlled Hydrofoil System is Candela’s most core patented technology. The system contains two retractable underwater wings — located on both sides of the bow and stern. It measures wave height and vessel attitude at a frequency of 100 times per second through multiple sensors around the hull, and uses flight control algorithms to micro-adjust the hydrofoil angle of attack in real time, ensuring the hull maintains stable “flight” under varying sea conditions. When the vessel speed reaches approximately 18 knots, the hydrofoils generate sufficient lift to completely raise the hull out of the water, significantly reducing water resistance and cutting energy consumption by up to 80% compared to traditional vessels of the same class. This system, developed based on fighter jet flight control principles, fundamentally subverts the energy consumption structure of traditional ships.
C-POD Direct Drive Pod Motor is Candela’s self-developed electric propulsor, representing a new design direction for marine motors. Unlike conventional marine motors that require complex mechanical structures such as drive shafts and gearboxes, the C-POD fully seals and integrates the permanent magnet synchronous motor inside a pod located below the hydrofoil. The motor rotor directly drives the propeller, eliminating intermediate transmission links and delivering a near-zero-maintenance experience. It also removes the need for lubricants and coolants required by traditional marine motors, thereby preventing the risk of marine leakage pollution. The continuous output power of the C-POD is approximately 45 kW (approx. 60 hp), with extremely low energy consumption under cruising conditions. In hydrofoil mode, the C-8 requires only 23 kW of cruising power.
Carbon Fiber Composite Hull Design is a key technology for Candela to achieve lightweighting and high strength. Starting from the C-7 prototype, Candela has used large-area carbon fiber composite materials manufactured through a vacuum infusion process for the hull and hydrofoils, ensuring excellent rigidity, lightness, and extremely strong fatigue resistance. The P-12 and C-8 largely retain similar carbon fiber reinforced structures, guaranteeing the reliability of high-performance hydrofoils under various dynamic stress conditions.
Flight Controller is the embodiment of Candela’s AI and software capabilities. This digital system integrates data from multiple sources, including inertial measurement units, LiDAR, GPS, and wave detection sensors. Through machine learning and Kalman filter algorithms, it dynamically adjusts hydrofoil attitude, flight altitude, trim, and roll, significantly reducing the impact of waves on passengers. Since the hull experiences almost no rolling or pitching, passengers rarely suffer from motion sickness on Candela vessels.
Automotive-Level Fast Charging Technology is a key support for the commercial feasibility of the P-12. The P-12 is directly compatible with automotive DC fast charging standards and can utilize existing infrastructure such as Tesla Supercharger stations, eliminating the need for complex large-scale onshore charging facilities. Candela has also signed a memorandum of understanding with renewable energy company Canopy Power to jointly develop a “Sun-to-Sea” fully integrated charging system based on floating solar and microgrids, making deployment in islands and remote coastal areas more self-sufficient.
Platform Mass Production Capability is the key transformation for Candela from hand-built ships to scaled manufacturing. Unlike traditional shipyards that rely on one-to-one customization, Candela adopts a platform-based manufacturing approach based on carbon fiber. It mass-produces standardized parts in Stockholm and its newly built second factory in Poland, significantly reducing manufacturing costs and delivery cycles, and gradually narrowing the purchase cost gap with traditional vessels.
Candela’s overseas layout strategy is based on the core idea of “Nordic testing and verification, global hotspot deployment” and has now expanded to cover major markets in Europe, Asia, the Middle East, and North America.
European Market is the technical origin and operational verification field for Candela. The company has achieved normalized public commuter operations of the P-12 in Nordic cities such as Stockholm, Gothenburg, Oslo, and Trondheim. Operating data from the Stockholm route has become the core case used by the company to demonstrate the cost-effectiveness and technical reliability of the P-12 to overseas customers. Norwegian operator Boreal AS signed a 20-unit P-12 contract in 2026, planning to replace diesel high-speed express routes along the country’s coastal fjords. Operators in Berlin, Germany, and other cities have also signed P-12 pilot projects.
Asia-Pacific Market is currently the growth pole where Candela has concentrated the most orders. In June 2025, Mumbai Port Operator Jalvimana ordered 11 P-12 vessels, planning to transform Mumbai into the world’s largest electric water transport system. After operation, the journey from Mumbai city to Alibaug Beach will be shortened from the original 2–3 hours of traffic congestion to approximately 35 minutes. In Thailand, operator Starmigo ordered 10 P-12 vessels in October 2025, which will serve tourist routes between the mainland and Koh Chang. In the Maldives, Ego Shuttles ordered 10 P-12 vessels at the end of 2025 to connect Malé with surrounding islands. In New Zealand, Meridian Energy ordered one P-12, which will serve commuter transport for the Manapouri Lake ecological scenic area on the South Island.
Middle East Market centers on the NEOM future city project in Saudi Arabia. The company secured the first batch of 8 P-12 orders in 2024, with deliveries planned from 2025 to 2026. In addition, Candela provides recreational yachts and tourism custom versions to Gulf countries such as the UAE and Oman. The high-temperature sea areas in the Middle East (above 40°C) place higher demands on battery thermal management and cabin air conditioning. Candela has carried out targeted customization and optimization based on conditions in Saudi Arabia and the UAE.
North American Market side, Candela has established distribution and display channels through its C-8 recreational yachts. The company has cooperative dealers in major water leisure markets such as New York, Miami, and Seattle. In terms of water transport, the company has initiated preliminary contact with several coastal and lake cities in North America, planning to launch P-12 pilot projects in select areas.
In addition, Candela is in early contact with the Chinese market. From the end of 2025 to early 2026, reports indicated that Candela executives had preliminary exchanges with relevant port operators in the Greater Bay Area, discussing the possibility of introducing P-12 hydrofoil ferries, particularly for cross-sea short-distance routes such as Shenzhen to Zhuhai, which offer strong commercial prospects.
Looking forward, Candela will focus on promoting the following five main lines: “product matrix expansion, global order delivery, production scaling, IPO preparation, and technology ecosystem deepening”.
Product Matrix Expansion side, the company has planned more boat models to cover different capacity requirements. In addition to the mass-produced C-8 recreational model and P-12 commuter model, Candela plans to launch the P-8 (more compact, with a range of 30–40 nautical miles) to serve small and medium-sized cities and low passenger flow routes. A freight version hydrofoil boat is also planned for green distribution of island food, medicine, and emergency supplies.
Global Order Delivery and Scaled Operations side, as of April 2026, Candela already has more than 65 P-12 orders and over 150 C-8 orders on hand. From 2027 to 2030, the company will enter an intensive delivery peak period — the 20 P-12 vessels from the Norwegian Boreal order alone will be delivered in batches from 2027 to 2030. Orders from Thailand, the Maldives, Mumbai, and other regions will also complete all deliveries and after-sales service network construction during the same period. The global P-12 service fleet is expected to exceed 100 vessels by 2030.
Production Scaling and New Factory Construction side, building on its Stockholm factory in Sweden, Candela began construction of its second factory in Poland in early 2026. The new factory will be dedicated to batch production of P-12 ferries. Founder Hasselskog said: “By moving away from small-scale series production (which inevitably drives up costs), we have built a platform serving multiple markets, bringing competitively priced high-tech carbon fiber boats and superior operating cost advantages to global customers.”
IPO and Capital Market Preparation side, Hasselskog revealed in a March 2026 interview: “This round of funding is sufficient to support company operations until a potential IPO in Stockholm in the next two to three years.” The company received investment from the International Finance Corporation (IFC) of the World Bank in a €30 million financing round in March 2026, confirming international mainstream development institutions’ recognition of clean water transport technology and Candela’s growth prospects.
Deepening of Technology Ecosystem side, Candela has signed a strategic cooperation memorandum of understanding with Canopy Power to jointly promote offshore self-sufficient charging systems based on floating solar microgrids in the Asia-Pacific region, with initial application planned for island nations such as the Maldives and Thailand. In 2026, Candela will continue to advance battery technology cooperation with Polestar and explore the possibility of licensing its hydrofoil flight control system to other ship manufacturers or applying it to larger-tonnage commercial vessels.
Management Structure Reform side, in April 2026, Sofia Graflund took over the CEO position from the founder. Graflund previously served as an investor at EQT Ventures and held senior positions at Northvolt and Heart Aerospace, bringing extensive experience in the scaled expansion of advanced manufacturing companies. After founder Hasselskog transitioned to Executive Chairman, he will focus more on external cooperation, innovation strategy, and product definition. The company stated that the core objective of this leadership adjustment is to adapt to the strategic need to transition fully from the “product verification” stage to “global scaled deployment”.
In summary, Candela is in a critical stage of full transformation from “pioneer” to “scaled leader”. With its deep moat in electric hydrofoil technology, a strong reserve of over 65 vessel orders globally, and the initial deployment of a standardized mass production platform, the company is accelerating the conversion of “zero-emission water flight” from concept into the daily reality of urban commuting, eco-tourism, and island logistics.
© 2024 Bitauto.com. All Rights Reserved.
Bitauto (www.yiche.com and www.bitauto.com) is one of the most visited automotive websites in China. We provide detailed info on Chinese car brands available in your area. Please note that the information provided on this website is based on publicly available data and is for reference only. It may not be fully updated or accurate at all times.
