Artemis Technologies

What Artemis Technologies does

Artemis Technologies Ltd, founded in January 2017 as a spin-off from the America's Cup sailing team Artemis Racing and relocated to Belfast in October 2018, designs and manufactures zero-emission electric hydrofoil vessels powered by its proprietary patented eFoiler propulsion system. The core technology lifts vessels above the water surface on hydrofoils, reducing hydrodynamic drag by up to 90% compared with conventional hulls and enabling fully electric propulsion at speeds over 50 knots. The company's product portfolio is structured as a platform-plus-products model: the eFoiler system and supporting battery and onshore charging infrastructure serve as the technology foundation, onto which a family of vessel variants is built — including the EF-24 Passenger ferry, EF-12 Escape water taxi, EF-12 Pilot boat, EF-12 Workboat and Workboat XL, EF-12 and EF-24 Crew Transfer Vessels (CTVs), and EF-12 Patrol craft. Applied Technologies (via subsidiary Artemis Applied Technologies Ltd) provides simulation, digital twin, and engineering consulting services to both maritime and non-maritime clients.

The company monetises through four revenue streams: hardware sales of vessels and charging infrastructure, professional services from the Applied Technologies division, licensing of the eFoiler system to other manufacturers, and ancillary battery and charging offerings. Customers are predominantly enterprise and government — ferry operators (Red Funnel, Condor Ferries, PROP Worldwide, Greenline Ferries), port and maritime authorities (Port of Tyne, Swedish Maritime Administration, Brabo Belgium, Noatum Maritime UAE), offshore wind operators (Ørsted, Vattenfall), luxury resort operators (Vejrø Resort), and government/sports bodies (British Bobsleigh & Skeleton Association, UK Sports Institute). Distribution is direct enterprise sales with pilot scheme demonstrations preceding fleet procurement.

The business is headquartered in a 42,200 sq ft manufacturing and engineering facility in Belfast's Titanic Quarter, with a North America regional headquarters opened in Brooklyn, New York in July 2024, and a registered office in Salisbury, England. The company employs 150+ staff of multiple nationalities, is privately held with no parent entity, and has cumulatively raised approximately £35 million in direct funding (notably a £33 million UKRI Strength in Places Fund grant in 2020 and a £2 million HSBC facility in December 2023), alongside an estimated £60 million total consortium investment through the Belfast Maritime Consortium.

Name

Artemis Technologies

Legal name

Artemis Technologies Ltd

Website

https://artemistechnologies.co.uk

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Artemis Technologies designs and manufactures zero-emission electric hydrofoil vessels powered by its patented eFoiler propulsion system, serving ferry operators, port authorities, offshore wind operators, and government clients globally from its Belfast headquarters and New York regional office.

Ownership category

akta.pro rank

Product category

Electric Hydrofoil Maritime Vessels

NAICS

Ship and Boat Building (33661), Ship Building and Repairing (336611), Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Engines & Turbines (3510), Water Transportation (4400), Motors & Generators (3621)

akta.pro primary industry

Marine Hybrid & Electric Propulsion Systems (IMAJAHAC)

akta.pro secondary industries

Fireboats & Emergency Response Craft (IMAJADAH), Electric & Hybrid Leisure Craft Manufacturing (IMAJAEAK), Marine Generators, Alternators & Power Electronics (Gen-sets, VFDs, converters) (IMAJAHAI), Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL)

Keywords

• Electric hydrofoil vessels
• Zero-emission ferries
• Electric propulsion systems
• Crew transfer vessels
• Maritime decarbonisation

Headquarters

HQ city

Lisburn

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Electric Vessel Sales: Sale of 100% electric foiling vessels including EF-24 Passenger ferry, EF-12 Escape water taxi, EF-12 Pilot boat, EF-12 Workboat, EF-24 Crew Transfer Vessel, and EF-12 Patrol vessel.
2. Applied Technologies Services: Engineering simulation, consulting, and technical services leveraging high-performance background for both high-performance and commercial clients.
3. eFoiler® System Licensing: Licensing of proprietary eFoiler electric propulsion system technology to other vessel manufacturers.
4. Charging Infrastructure: Onshore charging systems for electric vessels including installation and maintenance.

Go-to-market motion3 records

Distribution channels2 records

Marketing channels7 records

Core offering

Artemis Technologies designs, manufactures, and sells 100% electric hydrofoil vessels powered by its proprietary eFoiler® propulsion system, including passenger ferries, water taxis, pilot boats, workboats, crew transfer vessels, and patrol vessels. The company also offers supporting charging infrastructure, battery systems, eFoiler technology licensing, and engineering/simulation services through its Artemis Applied Technologies subsidiary.

Product overview

Artemis Technologies is a clean maritime technology company offering a portfolio of electric hydrofoil vessels powered by its proprietary eFoiler® system, along with supporting infrastructure and engineering services. The product lineup includes the EF-24 Passenger ferry and EF-12 series vessels (Escape water taxi, Pilot boat, Workboat, Workboat XL, CTV crew transfer vessels, and Patrol vessel), all utilizing the same patented eFoiler® electric propulsion technology to achieve zero-emission operation. Supporting offerings include charging infrastructure and battery systems, while Artemis Applied Technologies provides simulation and engineering services to external clients. The architecture is a platform-plus-products model where the eFoiler® system serves as the core technology foundation enabling all vessel variants.

Differentiator

Problem solved

Functional benefit

Brands

• Artemis eFoiler: Patented electric propulsion system for commercially viable, zero emission maritime transport. The system enables vessels to lift above the water surface using hydrofoil technology, reducing drag and enabling fully electric propulsion.
• EF-24 Passenger
• EF-12 Escape
• EF-12 Pilot
• EF-12 Workboat
• EF-24 Crew Transfer Vessel
• EF-12 Patrol

Products and services

• Artemis EF-24 Passenger 100% electric foiling passenger ferry designed for smart mobility and urban transport routes, carrying passengers while lifting above water on hydrofoils to reduce drag and enable longer range with zero emissions.
• Artemis EF-12 Escape Luxury electric hydrofoil water taxi designed for premium smart mobility travel, combining high-speed foiling technology with zero-emission operation for urban waterway transportation.
• Artemis EF-12 Pilot World's first fully electric hydrofoil pilot boat for maritime pilot transfer operations, combining zero-emission propulsion with speed, control and robustness required for daily pilot service with active flight control system.
• Artemis EF-12 Workboat 100% electric foiling workboat for commercial and professional maritime operations, featuring the eFoiler propulsion system for zero-emission high-speed operation with reduced drag and enhanced efficiency.
• Artemis EF-12 Workboat XL Extended length version of the EF-12 Workboat offering increased capacity and capability for professional maritime work operations while maintaining zero-emission electric foiling performance.
• Artemis EF-24 Crew Transfer Vessel (CTV) 100% electric foiling crew transfer vessel designed for offshore wind farm operations, enabling zero-emission transfer of personnel to offshore wind installations with reduced wake impact on marine environments.
• Artemis EF-12 CTV Compact 100% electric foiling crew transfer vessel for offshore wind operations, providing efficient zero-emission personnel transfer with reduced environmental impact and operational costs.
• Artemis EF-12 Patrol Electric foiling patrol vessel for maritime security, surveillance and enforcement operations, offering zero-emission high-speed patrol capability with reduced operational costs and environmental impact.
• Artemis Applied Technologies Consulting and engineering services applying Artemis expertise in simulation, digital twins, and high-performance design to solve complex technical challenges for external clients across maritime and other industries. Delivered through wholly-owned subsidiary Artemis Applied Technologies Ltd.

Quantifiable outcome

• Up to 90% less energy consumption compared to conventional vessels
• +2 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

13 partnerships are on record, tiered core, major and supporting.

• Connected Places CatapultcoreStrategic or Co-development Partner · 31 July 2025Partnership with FRS Group and Council of the Isles of Scilly to advance connectivity using electric hydrofoil vessels on island routes.
• Red FunnelcoreStrategic or Co-development Partner · 25 February 2025Entered delivery phase for next-generation electric ferry - the first 100% electric high-speed vessel between the South Coast and the Isle of Wight. Partnership to revolutionise sustainable passenger ferry services.
• Delta MarinemajorStrategic or Co-development Partner · 16 February 2025MOU to advance clean maritime solutions in Washington State, exploring integration of eFoiler technology in Pacific Northwest region.
• UrbanLink Air MobilitymajorStrategic or Co-development Partner · 1 August 2024Partnership to add carbon-free sea crafts to UrbanLink's fleet for sustainable urban mobility solutions combining air and water transport.
• DNVmajorTechnology or Integration · 4 June 2024Signed MOU on electric foiling ferries to collaborate on certification, standards, and technology development for zero-emission vessels.
• CharINsupportingTechnology or Integration · 1 June 2024Regular member of CharIN (Charging Interface Initiative) for standardisation of charging infrastructure for electric vehicles including maritime vessels.
• UK Digital Twin CentrecoreStrategic or Co-development Partner · 3 May 2024Delivered by Digital Catapult and funded by Belfast Region City Deal and Innovate UK. Artemis Technologies demonstrated digital twin applications as industry partner, projecting £62m economic GVA over next decade.
• Belfast Maritime ConsortiumcoreStrategic or Co-development Partner · 25 June 202014-partner collaboration spanning industry, academia, and government to design and build zero-emission high-speed ferries in Belfast. Led by Artemis Technologies with partners including Belfast Harbour, Bombardier Belfast, NIACE, Creative Composites, Energia, Catalyst, Invest Northern Ireland, Ulster University, Belfast Met, Queen's University, Belfast City Council, and Ards and North Down Borough Council. Supported by £33m UKRI Strength in Places Fund.
• ØrstedcoreStrategic or Co-development PartnerPartnership for demonstrating eFoiler technology at Ørsted's Barrow Wind Farm as part of Operation Zero initiative for offshore wind decarbonisation. Ørsted is a founding partner of the coalition to fast-track zero-emission vessels for North Sea offshore wind operations.
• VattenfallcoreStrategic or Co-development PartnerDemonstrated Artemis EF-12 CTV at Vattenfall's Aberdeen Offshore Wind Farm for offshore wind operations.
• International Luxury Hotel AssociationsupportingChannel Partner/ Reseller/ DistributorPartnership to provide luxury water transportation solutions for member hotels and resorts worldwide.
• Tidal TransitsupportingChannel Partner/ Reseller/ DistributorOffshore wind crew transfer operator experienced Artemis eFoiler workboat simulator for training purposes.
• University of SouthamptonsupportingStrategic or Co-development PartnerAcademic collaboration for PhD research that led to ice sports simulation development with British Bobsleigh & Skeleton Association.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Candela Technology: Swedish maker of electric hydrofoil foiling vessels (Candela C-8, P-12 Shuttle, P-30 foiling ferry). Most direct global competitor using a similar hydrofoil-electric architecture to reduce drag and enable zero-emission high-speed marine transport; competes head-to-head in pilot boats and passenger ferries.
• Boundary Layer Technologies: US-based developer of electric hydrofoil container ships and smaller foiling vessels. Competes with Artemis in the hydrofoil-electric propulsion category targeting commercial maritime decarbonisation, particularly in the small-to-mid vessel segment.
• Vision Marine Technologies: Canadian electric boat and outboard motor manufacturer developing high-power electric propulsion systems for recreational and commercial boats. Comparable in electric marine propulsion focus, though primarily powertrain rather than full hydrofoil vessels.
• Torqeedo: German maker of electric boat motors, batteries, and hybrid drivetrains for commercial and recreational marine markets. Comparable in electric marine propulsion focus and charging ecosystem, though focused on smaller outboard/inboard systems.

Emerging players

• Navier: US startup building hydrofoiling electric boats focused on coastal commuter routes. Comparable in electric hydrofoil architecture and zero-emission urban water mobility positioning to Artemis's Smart Mobility segment.

Broad incumbents

• Wärtsilä: Global marine technology incumbent producing engines, hybrid propulsion, and ship electrification systems. Competes broadly in marine propulsion and increasingly in zero-emission solutions; poses scale threat to Artemis's eFoiler platform.
• Volvo Penta: Marine engine and propulsion systems incumbent owned by Volvo Group, actively investing in hybrid and electric marine drivetrains for commercial vessels. Comparable in propulsion systems and offers competition across pilot boats, CTVs, and workboat segments.
• ABB Marine & Ports: Supplies electric propulsion, battery, and charging systems for ships and ports globally. Overlaps with Artemis's charging infrastructure, battery systems, and electric propulsion offering, but at much larger scale.
• ZF Friedrichshafen Marine: Supplies marine propulsion systems, including hybrid and electric drivetrains. Competes in the marine hybrid/electric propulsion category adjacent to Artemis's eFoiler powertrain and could integrate hydrofoil-ready solutions.

Others

• Tidal Transit: UK-based offshore wind CTV operator and Artemis channel partner. Comparable as a customer/operator in the offshore wind CTV market segment Artemis targets; listed in Artemis's partnership ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@artemistechnologies
• Facebookfacebook.com/ArtemisTechnologiesUK
• LinkedInlinkedin.com/company/artemis-technologies
• Instagraminstagram.com/artemistechnologies
• Xx.com/ArtemisTechLtd

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Artemis Technologies