EQT-backed electric boat manufacturer Candela has received an order from Norway's Boreal for 20 P-12 model electric ferries, according to a press release.

This represents the company's largest European order to date, with initial deliveries scheduled for 2027. The remaining ferries are set to be rolled out through 2030. Each P-12 carries a price tag of SEK 29 million, valuing the deal at approximately SEK 500 million according to Dagens Industri.

The vessels will be deployed for travel along the Norwegian coastline.

"With this investment, we are introducing an entirely new generation of fast ferries that 'fly' above the water's surface. The computer-controlled hydrofoil technology reduces energy consumption by up to 80 percent compared to conventional vessels and enables electric propulsion on routes where it was previously not feasible," says Nikolai Knudsmoen Utheim, CEO of Boreal.