Wind-powered hydrogen ships line up $500m rollout

Drift Energy UK startup Drift Energy has signed an exclusive capital and project framework with Commenda Capital Partners to support the rollout of at least 50 wind-powered hydrogen production vessels. The programme targets more than $500m of project-level investment, expected to be financed through project-specific vehicles. Drift will remain responsible for vessel technology, intellectual property, hydrogen production systems, routing software, project origination and offtake development. Commenda has been mandated as exclusive capital and project partner for the agreed programme, covering capital structuring, investor engagement, debt and equity processes, SPV setup and project execution. Drift is developing sailing vessels designed to harvest wind energy at sea, produce green hydrogen onboard and deliver it to ports, islands and coastal users. The company says its vessels act as mobile offshore energy infrastructure, avoiding some of the grid, permitting and fixed-infrastructure constraints facing conventional renewable energy projects. Ben Medland, chief executive officer of Drift Energy, said the framework with Commenda is aimed at showing the company’s model is “bankable and scalable”. Ulrik Andersen, chief executive officer and managing partner of Commenda Capital Partners, said the concept still needed to be structured as a maritime asset class.“ This is an innovative concept, but these are ships. They carry maritime risk and need to be financed accordingly,” Andersen said. The agreement is Commenda Capital Partners’ first public mandate. The maritime investment company was launched late last year by Michael Ebbe Hansen and Andersen to originate, structure and finance shipping investment opportunities. Andersen is a well-known name in shipping, having previously led Golden Ocean and Avance Gas, as well as holding senior roles at Petredec and Neu Gas Shipping. The framework follows Drift’s approval in principle from RINA earlier this year for what the class society called the first energy-harvesting ship design to receive such approval. DRIFT has said it plans to launch its first ship in 2027 before moving into series production. Adis Ajdin Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy. Read Next July 7, 2026 Heidmar buys Dutch shipmanager Q-Shipping July 7, 2026 DOF bags APAC subsea construction deal July 7, 2026 Offshore wind wake effect sparks legal clash in the UK July 7, 2026 Saipem lands $2bn Indonesia FPSO contract July 7, 2026 Projectile strike tests fragile Hormuz recovery