Tidal Transit, an owner of purpose-built crew transfer vessels (CTVs) for the offshore wind industry, has secured equity financing from maritime and logistics investor HICO Investment Group to expand its fleet with six new electric CTVs (E-CTVs), according to the company's release.
E-CTVs offer dramatically lower emissions, greater energy efficiency, significantly lower operating costs and greater personnel comfort than conventional diesel-powered vessels. Wind farm operators will benefit from alignment with science-backed emissions goals, lower maintenance downtime, the leveraging of electricity from their own wind farms and greater comfort from the near silent and vibration free propulsion.
The six new builds, to be delivered from 2026, will complement Tidal Transit’s existing fleet of ‘electric frontrunner’ CTV’s whilst the industry transitions to electric.
To help further accelerate this transition, the company is also spearheading a landmark diesel-to-electric retrofit project, (e-Ginny) funded by Innovate UK and the UK Department of Transport, proving that existing diesel CTVs can be converted to 100% electric power and recharged offshore.