Problem Addressed: According to the National Census of Ferry Operators, ferries are critical transportation infrastructure and carry 126 million passengers and 27 million vehicles per year. Nevertheless, maritime shipping emits over 1 billion tons of CO2 per year.
The Product: A decarbonized vessel—apply existing clean energy tech to maritime industry. (The proceeds from the fundraise will be used for the completion and direct ownership into the SPV for vessel #1. The percentage of ownership depends on the size of fundraise.)
- Security: SAFE
- Valuation Cap: $20,000,000
- Min. Investment: $100
(Data as of June 2021.)
Switch Maritime: WeFunder Campaign Highlights
1) LAUNCHING NOW: Construction on vessel #1 started in 2019, now 98% complete & launching within weeks.
2) ZERO-CARBON: Hydrogen creates no exhaust or smoke.. our ferry only produces pure (drinkable) water!
3) MARKET: U.S. ferry fleet is aging and in need of renewal, with market of $3+ billion.
4) TRACTION: Vessel #1 is contracted to one of the largest ferry operators in U.S.
5) SCALE: Industry partnerships in place to rapidly expand fleet in next 24-36 months.
6) COMPETITIVE ADVANTAGE: Vessel #1 experience creates expertise moat around tech/regulatory blueprints.
7) TEAM: Multi-decade track record in clean energy finance and ship owning & operating.
Did I Invest In Switch Maritime?
I’m still in the process of writing a full deal report and decide whether or not I will invest in Switch Maritime on WeFunder. At Angel Notes, I review 100+ pitches on 10+ platforms every month and send a detailed report every Saturday to subscribers of the Angel Notes newsletter (you can join through the form below). See you soon!