The round was led by Nexus Development Capital to grow its fleet. Founded in 2018 by a veteran team of maritime energy transition leaders, SWITCH's mission is to enable private and public municipal ferry operators to more easily replace their carbon-intensive, diesel-powered fleets while reducing operating and fueling costs over the lifetime of their vessels.

Established in 2018, SWITCH Maritime is focused on enabling private and public municipal ferry operators to more easily transition away from their carbon-intensive diesel-powered fleets, while reducing operating and fueling costs over the lifetime of their vessels. By offering operators capital-efficient access to fuel cell and battery electric zero-emissions vessels along with packaged fueling/charging solutions, SWITCH helps operators overcome the complexity of the rapidly evolving technology and regulatory landscape. SWITCH has successfully developed and operationalized Sea Change, the first commercial hydrogen fuel cell powered ferry in the U.S., and plans to grow its fleet of zero-carbon vessels in key ferry markets.