Archipelago Yachts celebrates success of funding round securing over 150% of funding target
by Archipelago Yachts 24 Apr 06:21 UTC
The Archipelago zero.63 © Archipelago Yachts
Following an investment round via funding site Crowdcube, Archipelago Yachts has exceeded expectations by hitting 157% of its funding target.
The funding round went live on 22nd March and was live for 20 days. The successful funding round consisted of 174 investors, raising a total of £236,996 of a set target of £150,000. The funds will be allocated towards leveraging the company's initial success through intensified marketing strategies and expanding its footprint in both Europe and the US.
The British offshore powercat builder informed interested investors of its aim to be carbon neutral by 2040 through its sustainable solutions of having all hybrid powered vessels, resulting in a lower carbon footprint, as well as inventing the world's first zero-carbon methanol powered vessel, the Archipelago zero.63.
This sustainable leisure vessel is the first of its kind, with an innovative propulsion system that allows the vessel to cruise silently at speeds of up to 10 knots. For high-speed performance, the design includes a direct-injection methanol engine, enabling the boat to reach a top speed of 22 knots.
Founder of Archipelago, Dr Stephen Weatherley, had to say of the success "I am overwhelmed by the support and interest we have received throughout this funding round, and would like to thank everyone who has invested. Thanks to their support, we can confidently continue our pledge of creating a cleaner future for the marine industry through our sustainable vessels."
The Archipelago range, designed by award-winning naval architects, Chartwell Marine, currently consists of The Archipelago 40, 47, 52 Flybridge,63 and the soon to be announced, the Archipelago 80.
For more information visit www.archipelago-yachts.co.uk.