UK startup Drift Energy has signed an exclusive capital and project framework with Commenda Capital Partners to support the rollout of at least 50 wind-powered hydrogen production vessels, targeting more than $500m of project-level investment, according to Splash247.
The Framework Agreement
The programme targets more than $500m of project-level investment, expected to be financed through project-specific vehicles. Commenda Capital Partners has been mandated as exclusive capital and project partner for the agreed programme, covering capital structuring, investor engagement, debt and equity processes, SPV setup and project execution. Drift will remain responsible for vessel technology, intellectual property, hydrogen production systems, routing software, project origination and offtake development, Splash247 reported.
The Vessel Technology
Drift is developing sailing vessels designed to harvest wind energy at sea, produce green hydrogen onboard and deliver it to ports, islands and coastal users. According to Splash247, the company says its vessels act as mobile offshore energy infrastructure, avoiding some of the grid, permitting and fixed-infrastructure constraints facing conventional renewable energy projects.
Key Executives and Background
Ben Medland, chief executive officer of Drift Energy, said the framework with Commenda is aimed at showing the company’s model is “bankable and scalable”, Splash247 reported. Ulrik Andersen, chief executive officer and managing partner of Commenda Capital Partners, said the concept still needed to be structured as a maritime asset class. “This is an innovative concept, but these are ships. They carry maritime risk and need to be financed accordingly,” Andersen said, according to Splash247. The agreement is Commenda Capital Partners’ first public mandate. The maritime investment company was launched late last year by Michael Ebbe Hansen and Andersen to originate, structure and finance shipping investment opportunities. Andersen is a well-known name in shipping, having previously led Golden Ocean and Avance Gas, as well as holding senior roles at Petredec and Neu Gas Shipping, Splash247 noted.
RINA Approval and Timeline
The framework follows Drift’s approval in principle from RINA earlier this year for what the class society called the first energy-harvesting ship design to receive such approval, according to Splash247. Drift has said it plans to launch its first ship in 2027 before moving into series production.
Implications for the Maritime Industry
While the concept is still in early stages, the framework between Drift and Commenda signals growing investor interest in alternative-fuel maritime assets. The vessels are designed to supply green hydrogen to ports, islands and coastal users, potentially reducing reliance on grid-based or fixed-infrastructure renewable energy. For logistics operators and port authorities, the development could open new clean energy supply chains for shipping and port operations, though the technology remains unproven at scale. The first vessel is not expected until 2027, so near-term operational impacts are limited. However, the approval from RINA provides some technical validation for the energy-harvesting ship design.
| Metric | Detail |
|---|---|
| Vessels planned | At least 50 |
| Total investment target | More than $500m |
| Financing method | Project-specific vehicles |
| First ship launch | 2027 |
| Class society approval | RINA approval in principle (2025/2026) |
| Drift Energy role | Vessel tech, IP, hydrogen production, routing, offtake |
| Commenda Capital role | Capital structuring, investor engagement, debt/equity, SPV setup, project execution |
Sources:
