Archipelago Yachts has hit 157% of its funding target following an investment round via funding site Crowdcube.
The funding round was live for 20 days and consisted of 174 investors, raising a total of £236,996 of a set target of £150,000.
The funds will be allocated towards intensified marketing strategies and expanding its footprint in both Europe and the US.
“I am overwhelmed by the support and interest we have received throughout this funding round and would like to thank everyone who has invested,” said Archipelago founder, Dr Stephen Weatherley. “Thanks to their support, we can confidently continue our pledge of creating a cleaner future for the marine industry through our sustainable vessels.”
The British offshore powercat builder has stated that its aim is to be carbon neutral by 2040, with all its vessels hybrid powered, which it says will resulting in a lower carbon footprint.
The boatbuilder also plans to develop its zero-carbon methanol powered vessel, the Archipelago zero.63.
The leisure vessel is believed to be the first of its kind, with a propulsion system that allows it to cruise silently at speeds of up to 10 knots.
For high-speed performance, the design includes a direct-injection methanol engine, enabling the boat to reach a top speed of 22 knots.
The Archipelago range, designed by naval architects, Chartwell Marine, currently consists of The Archipelago 40, 47, 52 Flybridge,63 and the soon to be announced, Archipelago 80.
