Tidal Transit secures equity funding for new electric crewboats

Offshore wind crew transfer provider Tidal Transit has secured equity financing from maritime and logistics investor the HICO Investment Group to expand its fleet with six new electric crewboats.

Tidal Transit said the strategic expansion is a direct response to growing demand for zero-emission crewboat solutions from offshore wind operations and and for reduced dependence on diesel in the offshore renewables sector.

The six catamaran crewboats, which are scheduled to be delivered beginning in 2026, will complement Tidal Transit’s existing fleet of vessels. The company said the newbuildings will offer benefits such as noise- and vibration-free operation and lower maintenance downtimes compared to crewboats with traditional propulsion systems.

In a related development, Tidal Transit is also participating in a diesel-to-electric retrofit project funded by Innovate UK and the UK Department of Transport. The e-Ginny project seeks to prove that existing diesel-powered crewboats can be converted to 100 per cent electric power and be capable of recharging offshore.