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Clean Tech & Energy case study: DRIFT Energy Limited

Image credit: DRIFT Energy

Pioneering renewable energy at sea

Drift logoDRIFT Energy is revolutionising the renewable energy sector with a groundbreaking approach: harnessing the power of the ocean to create clean energy at a planetary scale. Founded in 2021, DRIFT is an SME based in Bath, specialising in renewable energy and maritime innovation. With a growing team of 13 employees and three more hires in progress, the company is on a mission to change the way energy is generated and distributed worldwide.

"Bath, with its strong marine talent pool and focus on investment access and tech careers, such as software engineering and aerodynamics, was the ideal choice and we opened in Spaces in 2024."

Mike Mackay, Head of Vessel Design, DRIFT Energy Limited

Key achievements

2022

  • Unveiled the world’s first green hydrogen-producing ‘flying yacht’ at SailGP
  • Successfully produced green hydrogen from a purpose-built demonstrator vessel – a world first

2023

  • Winner of the LeZero Innovation Prize at COP28
  • Energy-harvesting ship concept unveiled at the Monaco Yacht Show
  • Shortlisted in two categories for the Great British Entrepreneur Awards
  • Winner of ‘Green Startup of the Year’ at the East of England StartUp Awards

2024

  • Winner of the Monaco Prize for Innovation in Renewable Hydrogen and Transportation
  • Net positive ship technology demonstrator showcased at the FII8 investment conference in Riyadh
  • Secured £694,135 grant funding from Innovate UK
  • Attended the United Nations’ 4th International Conference on Small Island Developing States
  • Expanded the team 4x
  • Opened the first office in Bath
  • Named a BE100 (Blue Earth 100) company for driving system change
  • Shortlisted for the Innovation Zero Awards

2025

  • Ranked #11 in the Startups 100 Index 2025
  • Winner of the Startups 100 Sustainability Award

Investment and growth

DRIFT Energy is backed by major deep-tech investors, including Octopus Ventures, Founders Factory, and the Blue Action Lab. In August 2024, the company successfully closed a £4.65 million seed round, led by Octopus Ventures and Blue Action Accelerator. These funds are fuelling vessel design, team expansion, and new partnerships.

Looking ahead, DRIFT is preparing for its Series A funding round in mid-2025, aiming to build and launch the first-ever net positive, energy-harvesting ship.

Support in the region

Originally founded in Hertfordshire, DRIFT sought a location with strong maritime and technology links to support growth. The company considered Bath, Bristol, and Southampton before selecting Bath for its marine talent pool, access to investment networks, and strong technology sector. In 2024, DRIFT officially opened its office in Spaces, Bath.

DRIFT has benefited significantly from regional support networks, including the SETsquared Partnership, a global tech business growth community that was instrumental in the company’s early success. Additionally, Invest Bristol & Bath has provided vital networking opportunities, helping DRIFT connect with regional grant and equity investment groups, further accelerating its growth.

"Invest Bristol & Bath has helped us to network within and around the region, as well as to forge specific connections within regional grant and equity investment groups."

Mike Mackay, Head of Vessel Design, DRIFT Energy Limited