Sud Mer Invest (Banque Populaire du Sud / Crédit Maritime), CAAP Création subsidiary of Crédit Agricole Alpes Provence, Banque Populaire Méditerranée, Mer Angels and a family office participated in the funding round, supported by institutional partners.

This funding round is the starting point of the commercial deployment of NepTech’s vessels and will enable the company to pursue its R&D strategy towards the most efficient navigation solution possible.

NepTech provides a new transportation solution that relieves congestion in urban centers and massively reduce its environmental footprint. NepTech’sinnovations rehabilitate the waterways, historically located at the center of urban mobility, both for people and goods.

Since May 2020, NepTech has developed its own range of electro-hydrogen-powered vessels from 10 to 30 meters. Its vessels can carry up to 200 passengers or about 20 tons of cargo.

To conduct its project, the company relies on a network of technological and institutional partners: test laboratories, fuel cell suppliers and experts in artificial intelligence to develop the most efficient and intelligent solution.

The commercialization phase of the NepTech vessels has been initiated. The company is in advanced technicalcommercial discussions with more than 20 prospects in France and Europe. A first hydrogen-powered vessel should be launched in 2024, especially for the Olympic and Paralympic Games of 2024.

On the technological side, NepTech’s main motivation is to maximize the energy efficiency of its vessels. NepTech will soon be fitting its demonstrator with an air injection system developed in-house. This breakthrough innovation will significantly reduce the hydrodynamic drag of the vessels. The technological bricks developed by the company contribute to the goals of decarbonization of the naval sector.

To support these roadmaps, an ambitious recruitment plan aims to strengthen the team, particularly in the hydrogen, architecture and naval engineering fields. Currently composed of 8 people, the team will double by the end of the year.

“This fundraising represents an important step for NepTech, which is positioned as one of the leading European players in the decarbonization of river and maritime mobility,” said Tanguy Goetz, CEO and co-founder of NepTech. We are very happy to bring on board NepTech’s venture investors with diverse profiles. We are convinced that together we can work towards the development of an environmentally friendly and efficient naval mobility”.

“We are very pleased to support NepTech in its first round of financing. At Crédit Maritime Méditerranée Groupe Banque Populaire du Sud, we are committed to support the sectors related to the blue economy on sustainable projects and actors of the ecological transition. We are convinced of NepTech’s positive impact on its market”.

“Banque Populaire Méditerranée is proud to be part of the NepTech story and to support it in this project of multipurpose vessels in a high traction market encouraged by the ecological transition.”