(Bath, UK) – Drift Energy Ltd. plans to produce green hydrogen at sea using wind energy with a fleet of high-tech sailing vessels, initially storing it there and then delivering it to customers. The company has announced that it has now entered into an agreement with Commenda Capital Partners to support the commercial deployment of at least 50 vessels. The project investment amounts to more than $500 million (€438 million).
The Italian certification company RINA confirmed the fundamental technological feasibility of the project in May. © Drift Energy Ltd.
Drift will continue to focus on ship technology, hydrogen production, and software. Commenda will be responsible for capital structuring, investor participation, and debt and equity financing. "Securing the financing framework with Commenda Capital is an important step in proving that the model is not only visionary but also bankable and scalable," says Drift CEO Ben Medland. This puts them in a strong position to demonstrate how clean energy can be generated offshore using ships and delivered directly to end consumers.
According to information from 2024, Drift has developed a "ship routing algorithm" that allows a yacht to find optimal weather conditions and return to port precisely when its hydrogen tank is full. The Italian certification company RINA SpA recently confirmed the fundamental technological feasibility (Approval in Principle, AiP).
New class of mobile offshore infrastructure
“This is an innovative concept, but these are ships,” says Ulrik Uhrenfeldt Andersen, CEO and managing partner of Commenda Capital Partners. “They carry maritime risks and must be financed accordingly.” Drift has “identified a real problem and developed a serious solution.” The agreement will enable the company to accelerate the deployment of its vessels “as a new class of mobile offshore infrastructure for green hydrogen, delivering clean energy directly to ports, islands, and coastal users.”
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Project outline: Drift Energy plans to eventually produce, store, and deliver green hydrogen to customers using wind energy at sea with a fleet of 50 high-tech sailing vessels. © Drift Energy Ltd.
