Switch Maritime

Switch Maritime

Launching the world's first zero-carbon ferry, powered by hydrogen fuel cell

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Security Type
Crowd SAFE
Min Investment
$100
Location
Jackson, WY
Offering Date
April 21, 2021
Expected Close Date
April 30, 2022
Target Raise
$500.00K-$1.07M
Deal Notes

Price per share: $1.00

Company Description

Switch Maritime is building the first fleet of zero-emissions vessels in North America. Powered by hydrogen fuel cells and batteries. The only "emission" is pure water.

Perks

$500,000 54% towards exercising ownership right in completed vessel #1, 40% towards marketing/G&A to develop vessels #2-25, 6% towards Wefunder fees
$1,000,000 75% towards exercising ownership right in completed vessel #1, 19% towards marketing/G&A to develop vessels #2-25, 6% towards Wefunder fees
$2,500,000 80% towards exercising ownership right in completed vessel #1, 14% towards marketing/G&A to develop vessels #2-25, 6% towards Wefunder fees
$5,000,000 85% towards exercising ownership right in completed vessel #1, 9% towards marketing/G&A to develop vessels #2-25, 6% towards Wefunder fees

Key Deal Facts

LAUNCHING NOW: Construction on vessel #1 started in 2019, now 98% complete & launching within weeks
ZERO-CARBON: Hydrogen creates no exhaust or smoke.. our ferry only produces pure (drinkable) water!
MARKET: U.S. ferry fleet is aging and in need of renewal, with market of $3+ billion
TRACTION: Vessel #1 is contracted to one of the largest ferry operators in U.S.
SCALE: Industry partnerships in place to rapidly expand fleet in next 24-36 months
COMPETITIVE ADVANTAGE: Vessel #1 experience creates expertise moat around tech/regulatory blueprints
TEAM: Multi-decade track record in clean energy finance and ship owning & operating

Management Team / Advisory Board Bios

Pace Ralli, Founder & CEO
Serial entrepreneur and investor with energy and finance background, focused exclusively on the decarbonization of the maritime transportation industry since 2012. Father, husband, skier, surfer and connoisseur of beach games.

Trinity Wells, CFO
Recovering investment banker performing financial planning, budgeting, and forecasting for SWITCH Maritime. Mother, hiker, camper and skier.

Elias Van Sickle, Commercial Development & Operations
Oversees vessel construction teams, project management, partnerships and new business development.

Deal Notes

Price per share: $1.00

Amount Raised : $0
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Security Description

An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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