Investors have supported Poseidon Marine H2’s capital round, enabling the company to commission a finite element analysis of its designs, bringing them one step closer to launching a hydrogen-powered boat by the third quarter of 2023.
An independent company’s testing will provide Poseidon Marine H2 with a proof-of-concept for their technology, which will allow boats to operate on several fuels, including diesel and hydrogen.
By the end of August 2022, the company will have provisionally patented their technology and will have initiated the certification process with insurers.
Following this, they will be able to create licensing deals with large manufacturers and industrial/public contracts with the world’s defense forces, ferry operators, police agencies, and other major maritime sectors.
Once they have a functioning boat in the third quarter of 2023, the company will strive to commercialize their product by going public in early 2024.
