High Speed Transfers secures £2.3m from the Development Bank of Wales to fund a hybrid vessel
The funding supports the purchase of the UK's first hybrid crew transfer vessel.
High Speed Transfers owns and operates crew transfer vessels that provide transport and support services to offshore wind farms and platforms.
Offshore crew transfer specialist High Speed Transfers has secured a £2.3m loan from the Development Bank of Wales. The financing will fund the construction and purchase of the company's fifth crew transfer vessel, named HST Ella.
Being built on the Isle of Wight by Diverse Marine, the catamaran will feature a hybrid propulsion system combining an electric motor and a diesel engine. The vessel is designed to enable zero emissions operation at low speeds in ports while maintaining efficient transit performance.
The backing aligns with sustainability goals and forms part of the company strategy to support European wind farms with lower carbon operations.
From the founder
"The HST Ella is a revolutionary design of vessel from Chartwell Marine – a Southampton based vessel designer."
Tom Nevin
CEO at High Speed Transfers
Investor perspective
"High speed Transfers is a fast growing, well-run and successful business based in south west Wales. It is great to support this business, especially with such an innovative vessel. The HST Ella will significantly reduce carbon emissions and is part of a future thinking sustainability-focused business plan from Tom and the team at High Speed Transfers. This investment also aligns with the Welsh Government’s commitment to tackling climate change, a commitment we support through impact investments like this one."
Alun Thomas
Regional Manager, Development Bank of Wales
Use of funds
- 01Build out infrastructure
- 02Continue product development
Investors
Categories
About the company
High Speed Transfers
High Speed Transfers provides transport and support services for offshore energy platforms.