American maritime financing provider Maritime Partners has successfully completed a sale-leaseback refinancing deal involving the hydrogen-powered passenger ferry Sea Change, a project by SWITCH Maritime. The ferry, with a capacity of 75 passengers, commenced commercial operations in San Francisco Bay in 2024. This transaction signifies Maritime Partners' foray into the ferry sector and kicks off a partnership with SWITCH Maritime to revamp the aging US ferry fleet with environmentally friendly vessels. CEO of SWITCH Maritime, Pace Ralli, mentioned that the funds from this deal will aid in completing engineering tasks and supporting the company's upcoming construction phase. SWITCH Maritime is currently working on designs for 150- and 300-passenger catamaran fast ferries, along with a larger RoPax ferry, as replacements for diesel vessels in major US markets. Dave Lee, VP of Technology and Innovation at Maritime Partners, highlighted that this partnership showcases the company's expansion into a transportation sector that necessitates capital for fleet modernization. Despite undisclosed financial specifics, the collaboration between Maritime Partners and SWITCH Maritime signifies a positive step towards greener and more efficient transportation solutions in the maritime industry.