Switch Maritime on WeFunder | Deal Memo

Jun 5, 2021 2 min read
Invest in SWITCH Maritime: Launching the world’s first zero-carbon ferry, powered by hydrogen fuel cell | Wefunder
Launching the world’s first zero-carbon ferry, powered by hydrogen fuel cell

Company Overview

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.)

Deal Terms

  • 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!

Table of Contents
Great! Next, complete checkout for full access to Angel Notes.
Welcome back! You've successfully signed in.
You've successfully subscribed to Angel Notes.
Success! Your account is fully activated, you now have access to all content.
Success! Your billing info has been updated.
Your billing was not updated.