Tāmaki Makaurau Auckland is a global leader in marine technology. Innovations in hydrofoiling, originally developed for the America’s Cup, are now being applied to tourism and commercial vessels by startup Auckland company Vessev. With its first production boat launched in 2024, the company is busy bringing electric hydrofoiling to a global market.
Vessev’s electric hydrofoiling technology makes boats dramatically more efficient than traditional vessels. “Most boats use a huge amount of energy to push through the water,” says Vessev CEO Eric Laakman. “Our technology lifts the boat up above the water on hydrofoils, reducing drag and cutting energy consumption by up to 90 percent. And because it’s powered by electricity, it’s not only more efficient but more sustainable too.”
In addition to using less energy, Vessev’s technology enhances the travel experience. By ‘flying’ above the waves rather than bouncing through them, passengers enjoy a smoother ride. The reduced noise from electric motors also improves comfort, while virtually no wake is also kinder to local ecologies.
Designed in Auckland from the ground up
Vessev’s technology extends beyond hydrofoils—it's a complete, bespoke system that includes foils, actuators, a control system and an electrical system, all designed from scratch. “That's a deliberate choice,” Eric explains, “because an integrated approach is the only way to deliver transformational change.
In a sustainable future, we believe this technology will be adopted by an increasing number of vessels. And it’s being showcased right here in Auckland.
In 2024, Vessev launched the VS-9, Vessev’s flagship model and the world’s first premium electric hydrofoiling tourism vessel. With a cruising speed of 22-25 knots, a range (at cruise) of 40-50 nautical miles and the ability to carry 10 passengers, it’s a game changer. The launch was closely followed by a partnership with Auckland ferry operator Fullers, which will offer passenger services using the VS-9 starting in January 2025. This makes Fullers the first operator worldwide to provide a certified electric hydrofoil tourism service.
Interest in Vessev’s technology extends beyond operators. Vessev is fielding interest from recreational users, superyacht owners looking to use the VS-9 as tenders and naval architects who want to design using the technology. With a growing order pipeline for the 9m VS-9 from domestic and overseas customers, Vessev is already planning its next step: larger vessels. An 18m craft is likely the next on the roadmap as the technology evolves.
Specialist skills, specialist teams
Vessev was founded by New Zealand engineer Max Olson, who also co-founded the virtual fencing and pasture management company Halter. As an engineer and boat enthusiast, Olsen saw a better way to build vessels. Auckland, with its deep talent pool, provided the perfect environment to realise his vision.
According to Eric, Vessev’s team is a unique combination of people from places such as Team New Zealand, Rocket Lab and Halter, all bringing amazing skills and experience.
Team New Zealand, for instance, pioneered modern hydrofoiling. Auckland is also home to world-class expertise in carbon composite structures, strong enough to be sent into space. We’ve been extremely fortunate to have such incredible talent on our doorstep.
Driven by Kiwi ingenuity
Operating in a global market from the bottom of the world is sometimes seen as a disadvantage, but Eric—who arrived in New Zealand after senior roles with Apple in Silicon Valley—views being based in Auckland as a real benefit.
“It's not just access to highly skilled people; it’s the way they work that makes the difference. New Zealanders are incredibly versatile. They're capable and willing to turn their hand to pretty much anything to achieve the best outcome.
“What we’ve achieved with the resources we have is staggering. To do this project elsewhere, you’d need an army of people and 10 times the resources. Yet we’ve managed to get a boat in the water for an investment that wouldn’t even buy office space in Palo Alto.
There are similarities between Silicon Valley and New Zealand. Both rely on ingenuity to succeed but New Zealanders are less siloed. In a startup business like ours, that versatility is invaluable.
“It's also an easy place to do business. For instance, sitting down and talking with all the regulatory agencies involved in novel technology is much more straightforward here.
“And of course, if you’re in the marine industry, there’s no better place. New Zealand is surrounded by water and it has boating in its DNA. I can’t imagine Vessev existing anywhere else.“
A transformative future
Right now, there are approximately 33 million vessels worldwide, yet fewer than 200 are electric hydrofoils. “We’re not going to replace all 33 million,” Eric says, “but there’s enormous potential for tourism and commercial operators to reduce costs, increase efficiency and move more sustainably on the water.
"There’s no analogy for this in automotive or aviation. Nothing you can do to a car or plane will increase efficiency three to five times. Hydrofoiling a transformative technology for genuine marine sustainability."
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