bound4blue raises a €5M funding round
bound4blue raises €5M in financing to lead the implementation of wind-assisted propulsion technology for the maritime transport industry
- Besides the investment of current shareholders of the company and the support of some public entities, this funding round is supported by some strategic investors such as Aciturri Aeronáutica, CDTI (INNVIERTE), EIT Climate KIC, the Ocean Born Foundation or ARCANO PARTNERS (IMASDE fund), among others.
- Some weeks ago, bound4blue successfully installed an eSAIL® system on a fishing vessel owned by the Spanish shipowner ORPAGU. The vessel started sailing again after the retrofitting, with the eSAIL® system fully operational.
Santander/Barcelona (Spain), 30 June 2021. bound4blue has successfully raised a funding round of more than €5M, starting a new phase in the development and implementation of its unique wingsail technology (eSAIL®) for the maritime transport industry. As part of the transition towards a more sustainable energy model, while being fully aligned with the objectives of the International Maritime Organization (IMO), the maritime industry is looking for innovative solutions that allow these new sustainability goals to be attained while reducing operational costs. The use of wind power as an auxiliary propulsion method is a natural step in this transition, and that’s why bound4blue is strongly committed to its development and commercialization.
bound4blue embarks on this new phase with the support of companies and strategic investors such as Aciturri Aeronáutica, CDTI (INNVIERTE), EIT Climate KIC, the Ocean Born Foundation or ARCANO PARTNERS (IMASDE fund), as well as with the support of public entities such as Government of Cantabria, Sodercan or the European Union. The funds will be used to boost the implementation of the eSAIL® technology, thereby placing bound4blue in a leading position in the €66B wind-assisted propulsion technology market.
José Miguel Bermúdez, CEO, bound4blue: “For bound4blue it’s absolutely key to have onboard the support and experience of our new partners, as well as the renewed support of our previous investors too. This new funding round will allow us to scale up the company and to boost our technology implementation within the industry, thus positioning bound4blue as a market leader to capture the huge turnover that this sector will generate in the upcoming years.”
Note to editors:
bound4blue develops automated wind-assisted propulsion systems as a turnkey solution for all shipowners and shipping companies seeking to reduce fuel costs and polluting emissions. bound4blue’s eSAIL® system is a validated solution for saving fuel and emissions, completely autonomous, with low maintenance and easy installation onboard, being the most cost-efficient wind propulsion technology today. The company, founded in 2014 with a vocation clearly focused on the renewable energy sector in the maritime field, has its headquarters in Cantabria (Spain) and offices in Barcelona and Singapore. During 2021, the company installed its eSAIL® system on two ships and has signed additional agreements with other shipowners like Amasus Shipping, Louis Dreyfus Armateurs and Marubeni Corporation to install the system on their fleets.
For more information, visit: www.bound4blue.com
About Aciturri Aeronáutica
Aciturri is a European Tier 1 company providing a wide range of highly complex and technology-intensive products for aerostructures and aeroengines for the main aeronautical manufacturers (Airbus, Boeing or Embraer). With 44 years of experience, Aciturri’s value chain goes from conceptual design to final delivery to the client, including manufacturing solutions based on metallic, composite, and additive technologies. Joining bound4blue is part of Aciturri’s diversification strategy towards new sectors, not only by providing financial support but also by bringing knowledge, experience, and technology. For more information, please visit: www.aciturri.com
About CDTI (INNVIERTE)
CDTI is the body of the Administración General del Estado (Spanish Government) that supports knowledge-based innovation, advising and offering public funds for innovation through subsidies or partially reimbursable loans. CDTI also internationalizes the R&D and innovation business projects of Spanish companies and entities and manages Spanish participation in international R&D organizations, such as Horizon 2020 and Eureka. In addition, through the Innvierte Economía Sostenible initiative, CDTI supports and facilitates the capitalization of technology-based companies. For more information, visit: www.cdti.es
About EIT Climate KIC
EIT Climate-KIC is the EU’s climate innovation initiative, working to accelerate the transition to a zero-carbon and resilient world by enabling systems transformation. Headquartered in Amsterdam, it operates from 13 hubs across Europe and is active in 39 countries. EIT Climate-KIC was established in 2010 and is predominately funded by the European Institute of Innovation and Technology (EIT), a body of the European Union. As a Knowledge and Innovation Community (KIC), it brings together more than 400 partners from business, academia, the public and non-profit sectors to create networks of expertise, through which innovative products, services and systems are developed, brought to market and scaled up for impact. For more information, visit: www.climate-kic.org
About Arcano Partners
Arcano Partners is an independent firm with more than 18 years of experience in international financial advice and asset management. Founded in 2003, it is a leading investment management and financial advisory firm, with offices in Madrid, Barcelona, Valencia and New York, and a team of more than 180 professionals. Within ARCANO, the investment banking department has more than 70 professionals in Spain and has successfully closed more than 120 transactions since 2016. For more information, visit: www.arcanopartners.com/en
About Ocean Born Foundation
The OBF is an international, grant-giving organisation. Its goal is to bring competitive products to market, responding to market demand while ensuring they are produced with the least environmental impact possible. All profits from its brands and products are given out as grants or donations by the foundation to organisations and projects dedicated to ocean clean-up and conservation. For more information, visit: www.oceanbornfoundation.org