Candela Equity

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Proposed IFC equity investment of up to €8m to acquire a minority stake in a new client, Candela (the “company”), an electric vessel manufacturer whose advanced hydrofoil technology reduces energy requirements by over 90% vs traditional boat structures, tackling the challenges in decarbonizing marine transport. The Company operates a factory and a sales office in Sweden and is opening its next factory in Poland to serve emerging markets (EM) primarily in Asia. IFC to invest up to €8m in the company’s €20m equity round (in addition to €80-100m debt) at a c.€200m valuation, led by EQT Ventures. IFC investment will finance CAPEX for the new factory in Poland, helping move e-mobility value chains to the country, generate jobs as well as support the company’s expansion to service EM clients (the “project”). The facility in Sweden produces electric hydrofoiling commercial watercraft and consists of production halls, material storage, and administrative offices. The facility in Poland will mirror the Swedish factory but with larger capacity. The new factory will cover around 10,000 m2, retrofitting an existing and operational warehouse located near Gdansk, from which the company will lease a portion of the site to set up their production layout.