Al Masdar Investment, a Qatari investment firm chaired by Sheikh Saud bin Abdulaziz Al-Thani, has acquired a 63 per cent majority stake in Tyde, a German company known for developing zero-emission hydrofoil marine technology and the vessels The Icon and The Open, co-developed with BMW.
Under the agreement, Al Masdar Investment will provide additional funding to Tyde to develop new models and implement a global market strategy targeting luxury, commercial and urban marine mobility applications.
The signing took place in Munich, Germany, with Henrik H. Christiansen, group CEO of Al Masdar Investment, and Malte Liedtke, group CTO, representing Al Masdar Investment, alongside Christoph Ballin, CEO and co-founder of Tyde.
“Partnering with Al Masdar Investment allows Tyde to accelerate its mission to redefine marine mobility through sustainability and innovation. With this strategic alliance, we can scale our technology, expand globally, and bring zero-emission water transport to both private and urban markets faster than ever before,” says Christoph Ballin, CEO of Tyde.
Tyde says its hydrofoil technology is designed to reduce energy use by up to 80 per cent and lower greenhouse gas emissions by more than 90 per cent, offering a quieter, smoother and more efficient travel experience above the water.
The firms say the new partnership will also contribute to urban water mobility initiatives in Qatar and the wider MENA region, with potential applications in Lusail, The Pearl and Doha Corniche corridors.
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