Investors can now invest in Poseidon Marine H2 through the online trading platform VCEX. Its team of engineers is looking to raise A$410,000 to fund a feasibility study for the project’s development of a hydrogen-powered boat, which they hope to have on the water by the third quarter of 2023.
The team wants to make the most of existing technologies, which is why they’re considering using a current hull design with a unique upper deck and internal layout.
According to the company, they will be focusing on the new motor yacht market, which is expected to be worth US$11.05 billion, with Europe accounting for 35% of the market ($3.87 billion).
Dynamic Efficiency, their technology partner, has direct connections with a marine engineering company at the Gold Coast City Marina, as well as a long list of relationships with major industry players and universities, which will be crucial to the project’s execution.