Vessev built an electric ferry that almost flies
Source: TechCrunch ↗
Vessev’s VS‑9 electric hydrofoil ferry, a 30‑foot catamaran‑style vessel equipped with wing‑like foils and an in‑house electric motor, completed a public demonstration on October 13 as it glided from the Brooklyn Marina toward Governors Island on New York’s East River. Co‑founder and CEO Eric Laakmann explained that the boat lifts most of its hull out of the water via a front foil, with a rear foil handling about 20 percent of the lift and housing the motor, while computer‑controlled underwater flaps keep the ride smooth and stable. The design allows the ferry to skim the surface at speed, reducing drag and improving efficiency—crucial for electric propulsion where every kilowatt‑hour matters. Vessev, which raised a $19 million Series A in August, built the motor itself to control costs, outsourcing only the commoditized batteries.
The hydrofoil’s ability to lift the hull clear of the water makes it especially suited for urban waterways such as lakes, rivers, and bays, where wave heights stay below the roughly two‑and‑a‑half‑foot clearance the VS‑9 requires. By minimizing drag, the technology can lower operating costs for small electric vessels, a benefit Vessev hopes will enable the ferries to serve as extensions of city mass‑transit networks, shuttling passengers between boroughs without extensive new infrastructure. Early market targets include hotels, tour operators, and affluent private buyers attracted by the novelty of a “almost‑flying” boat, while the company also envisions future sales of electric hydrofoil kits that other boatbuilders could integrate into their designs.
While the demonstration showcased a smooth, sports‑car‑like ride, Laakmann cautioned that hydrofoils are not a universal solution; rough seas that exceed the vessel’s clearance cause the hull to contact water, degrading performance and efficiency. Nonetheless, Vessev plans to move beyond the one‑off VS‑9 prototype, aiming to produce additional units and eventually offer retrofit kits. If successful, the technology could reshape urban water transit by providing a low‑emission, high‑speed alternative to conventional ferries, potentially influencing how cities worldwide approach commuter and tourist transport on inland waterways.
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The U.S.'s central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The U.S.'s economy is growing at 2.3% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the U.S.'s own central bank rate closely. With the U.S.'s unemployment at 4.4%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in the U.S. depends more on local healthcare capacity than the figures above.
The UK's central bank rate currently stands at 3.75%, so a global rates move like this could feed through to local borrowing costs. The UK's economy is growing at 0.8% with inflation at 3.2%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track the UK's own central bank rate closely. With the UK's unemployment at 5.6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in the UK depends more on local healthcare capacity than the figures above.
France's central bank rate currently stands at 2%, so a global rates move like this could feed through to local borrowing costs. France's economy is growing at 0.9% with inflation at 1.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track France's own central bank rate closely. With France's unemployment at 7.9%, personal-finance effects like this land on a labour market that is already under strain. Health-system effects are harder to localise from economic indicators alone — the real impact in France depends more on local healthcare capacity than the figures above.
Romania's central bank rate currently stands at 6.5%, so a global rates move like this could feed through to local borrowing costs. Romania's economy is growing at 0.7% with inflation at 7.8%, the backdrop this story's effects play out against locally. Housing-market effects like this are usually felt most where mortgage rates track Romania's own central bank rate closely. With Romania's unemployment at 6%, personal-finance effects like this land on a labour market that is currently fairly stable. Health-system effects are harder to localise from economic indicators alone — the real impact in Romania depends more on local healthcare capacity than the figures above.
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