Press release -
Candela announces CEO transition to accelerate global scaling following strong commercial progress
Gustav Hasselskog, founder and CEO of Candela Technology AB, the global leader in electric hydrofoil vessels, has initiated a planned leadership transition as the company enters its next phase of growth. After more than eleven years as CEO, he has, together with the Board of Directors, decided to appoint Sofia Graflund as new Chief Executive Officer. Gustav Hasselskog will assume the role of Executive Chairman.
The transition follows a Board decision on April 7, 2026, and is planned to take effect in connection with the Annual General Meeting on June 23, 2026.
Candela has, over recent years, moved from early-stage development into a more mature phase. The company now has vessels in commercial passenger operation, serial production is established for multiple product lines, and demand is growing across both public transport and private markets globally with 65+ orders for the Candela P-12 ferry.
The Candela P-12 ferry has been officially declared a success in Swedish and Norwegian public transport, as its hydrofoil technology has been proven to cut energy usage by up to 80% compared with conventional vessels. It also minimizes wakes, enables faster travel times within cities, and significantly reduces operational costs relative to diesel vessels.
The focus is now broadening from product development and technology validation to include scaling production, strengthening commercial operations, and executing consistently across geographies.
“Candela today stands on significantly firmer ground than in its early years,” said Gustav Hasselskog. “With many of the core technological and product-related uncertainties resolved, the company is now entering a phase where operational execution and systematic scaling become increasingly central. I believe this is the right moment for a transition in leadership, aligned with the company’s next phase of expansion.”
Sofia Graflund, currently Chief Strategy Officer at Candela, has worked closely with the organisation in recent months and brings a deep understanding of its operations, strategy, and growth agenda. Prior to joining Candela, she worked at EQT Ventures and held senior roles at Northvolt and Heart Aerospace, gaining valuable experience in scaling advanced technology and industrial companies.
“I’m delighted that Sofia has accepted this role. She brings strong analytical and operational capabilities, and has a deep understanding of Candela’s technology and culture. Her integrity and independence of thought will be important to lead the company into our next phase,” Hasselskog said.
“It’s a great honour to lead the team that effectively has invented electric hydrofoil technology, proven its success in demanding public transport, and brought three generations of vessels into serial production. Candela has established strong commercial traction and emerged as a market leader in electric waterborne transport. We’re now entering our next growth phase on a market valued at multiple billions globally, where we see demand for at least 5000 vessels per year in the long term” says Sofia Graflund.
Subject to approval at the Annual General Meeting in June, Gustav Hasselskog is proposed to assume the role of Executive Chairman. In this capacity, he will focus on external engagement with customers, partners, investors, and policymakers, while also supporting product strategy and innovation. His involvement in the company will remain substantial.
Hans Ahlinder, who has served as Chairman since the company’s founding, will continue in his role until the Annual General Meeting. Over more than a decade, he has been a highly valued partner to the company and to Gustav Hasselskog, providing sharp judgement and deep industrial experience through both challenging and successful periods.
“This transition has been initiated with a long-term perspective,” Hasselskog said. “I am confident it positions Candela well for the very exciting journey ahead and to deliver on our mission to accelerate the transition to fossil fuel-free waterways.”
Long-term Candela investor EQT Ventures adds:
"We backed Candela early and have been consistently impressed by the team’s ability to translate breakthrough technology into real-world commercial deployment. With Sofia stepping in as CEO and Gustav as Executive Chairman, the company has a uniquely strong leadership combination to scale globally. Candela is well positioned to accelerate its expansion across international markets, and we’re excited to continue supporting that journey,” says Marnix van der Ploeg, Managing Director at EQT Ventures.
For further information, please contact:
mikael.mahlberg@candela.com
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Stockholm-based Candela Technology AB is the world leader in hydrofoiling electric vessels. The company was founded in 2014 by engineer and business leader Gustav Hasselskog with the mission to accelerate the world's transition to fossil fuel-free lakes and oceans by developing electric vessels that outperform those powered by fossil fuels.
Candela's watercraft have wings (hydrofoils) that lift the hull above the water and reduce friction, using 80% less energy than conventional ships at high speed. This technology allows for long-range water travel solely on battery power, a first in the industry. Candela's hydrofoils also enable operators to transition to sustainable fleets by providing up to 50% lower operational costs.
At the heart of Candela's hydrofoil tech stack is the Flight controller, which automatically stabilizes the vessel during flight by regulating the foils, using sensors that gauge wave height and wind speed, among other factors. Even in rough weather, passengers experience 90% less g-forces than they would on a traditional boat. All Candela vessels are fully connected and receive over-the-air updates.
After five years of research and development, Candela began producing the world's first electric hydrofoil leisure boat in 2019, the Candela C-7 open "roadster of the seas". This was followed in 2022 by the high-volume market Candela C-8, which was delivered to the first customers in spring 2023. Over 150 C-8 units have been sold to date, and the vessel has been lauded as a "game changer" by Motorboat and Yachting magazine, winning numerous awards including the 2022 European Powerboat of the Year award for its superior seakeeping, long range, and high speed.
In 2023, Candela launched its first commercial vessel, the Candela P-12 Shuttle ferry. It is the fastest and longest-range electric ship ever built, with a top speed of 30 knots and a range of 40 nautical miles at 25 knots. It is also the most energy-efficient fast ship ever made in its size class. Substantial operational cost savings are expected. The first unit enters service in Stockholm's public transport system in 2024.
Candela is a technology company with headquarters in Stockholm, Sweden, employing over 200 engineers, technicians, and production staff. The company develops the entire tech stack, from the C-POD motor to the control system and carbon fiber hulls, in-house. Candela's two wholly-owned factories in Stockholm, Sweden, produce the Candela C-8 and P-12 vessels. The company also has leisure boat resellers in 12 countries and wholly-owned sales offices in San Francisco, USA, and Cannes, France.
