U.K.-based offshore wind crew transfer vessel (CTV) owner Tidal Transit has secured equity financing from maritime and logistics investor HICO Investment Group to expand its fleet with six new electric CTVs (E-CTVs).
The strategic expansion is a direct response to growing demand for zero-emission CTV solutions from offshore wind operations, according to Tidal Transit.
The six newbuilds, to be delivered from 2026, will complement Tidal Transit’s existing fleet of electric CTV’s. The company is also spearheading a landmark diesel-to-electric retrofit project, (e-Ginny) funded by Innovate UK and the UK Department of Transport, proving that existing diesel CTVs can be converted to 100% electric power and recharged offshore.
“The offshore wind industry has reached a transition moment where the green electricity produced can be efficiently used to propel the vessels that service it. The continued burning of fossil fuels contradicts the very purpose of harnessing renewable wind power.
“With HICO’s backing, Tidal Transit is committed to making the switch to electric CTVs not just viable, but also inevitable. The offshore wind Industry has a responsibility to its stakeholders and consumers to make this step and actively embrace the rapid decarbonization of the supply chain,” said Leo Hambro, director of Tidal Transit.
"Tidal Transit’s vision to electrify offshore wind is exactly the kind of bold, transformative innovation that HICO is committed to backing. This fleet expansion is an industry first, it’s a defining moment for the maritime sector, proving that large-scale electrification of offshore service vessels is no longer a distant aspiration but an operational reality,” added Chris Hartnoll, CEO at HICO Investment Group.