Pioneer foiling in London with a sunset background

‘Flying Boats’ Set for International Take Off Thanks to £2 Million HSBC Funding

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Posted on: 12 December, 2023

Artemis Technologies is taking Northern Ireland’s maritime capabilities into an exciting new era as it brings its ‘flying’ electric foiling boats to international markets with £2 million backing from HSBC UK.

Just a stone’s throw away from where the Titanic was built, Artemis Technologies is using the funding to increase production capacity and commence serial production of its electric foiling workboats in response to growing demand.

The company – which launched the world’s first commercially viable, 100 per cent electric foiling workboat last year – has already received a number of orders globally, where the Offshore Wind, Workboat, Patrol and Smart Mobility industries have shown great interest in their zero-emission vessels. The business is also currently developing a high-speed passenger ferry, due to hit the water next year.

In the last 12 months, the company has doubled in size and that growth is set to continue into 2024. Kiera McSorley, Finance Director at Artemis Technologies, said:

“This funding will enable us to carry out our global growth strategy and further establish Artemis Technologies as a market leader within the maritime industry.

“We’re proud to be making the most of Belfast’s rich maritime and industrial heritage as we bring this incredibly exciting new era to the fore.

“The potential impact of low emission, smooth and fast travel that our eFoiler boats provide should not be underestimated. We hope that our technology will help to transform both the day-to-day operations and environmental impact of our customers, across the globe”

Daniel Wilson, Deputy Head of Corporate Banking at HSBC UK, said:

“Companies everywhere are looking to become more sustainable and the maritime industry is no exception. We are seeing exciting innovation within the sector as businesses rise to the challenge. Artemis Technologies is a great example of a business working to tackle this challenge, and we’re proud to be using our strengths in international banking to help the company expand, quite literally, overseas.”

Artemis Technologies’ electric foiling boats are completely emission free in operation, providing significant operational savings to businesses after an initial investment when compared to their diesel counterparts.