HICO backs Tidal Transit electric CTV newbuild series

UK crew transport vessel (CTV) owner and operator Tidal Transit has secured funding from HICO Investment Group, a Hartnoll family private investment business, to bolster its fleet with six new electric CTVs.

The company headquartered on the North Norfolk coast said the latest move is a direct response to growing demand for zero-emission CTVs from offshore wind operations and reinforces its and HICO’s commitment to reducing diesel dependency in the sector.

“Built together with our network of marine and engineering partners, these six new E-CTVs mark the world’s first fleet of multi-functional electric CTVs and a major milestone in our journey towards the electrification of offshore wind,” said Leo Hambro, director of Tidal Transit.

The newbuilds will be delivered from 2026, and complement Tidal Transit’s existing fleet of so-called electric frontrunner CTVs.

The company is also spearheading a landmark diesel-to-electric retrofit project, funded by Innovate UK and the UK Department of Transport, proving that existing diesel CTVs can be converted to 100% electric power and recharged offshore.

HICO Investment bought into Tidal Transit last year, expanding its presence in the offshore sector after taking a significant stake in Singapore-based Britoil Offshore Services in 2021.

Chris Hartnoll, CEO at HICO Investment Group, added: “This fleet expansion is an industry first, it’s a defining moment for the maritime sector, proving that large-scale electrification of offshore service vessels is no longer a distant aspiration but an operational reality. This milestone will accelerate a fundamental shift across the industry, unlocking new standards of sustainability, efficiency and cost-effectiveness.