bound4blue Raises $51.2M to Scale Wind Propulsion Solutions

bound4blue, a company specializing in automated wind-assisted propulsion systems for the maritime industry, has secured $51,269,905 in investment capital from investors. The funding marks a significant milestone for the firm, which offers a validated solution designed to help shipowners and shipping companies reduce fuel costs and polluting emissions across their fleets. The core of bound4blue's offering is its eSAIL® system, an autonomous and low-maintenance wind propulsion technology. This turnkey solution is noted for its easy installation onboard and its cost-efficiency, making it suitable for a wide range of vessels including Tankers, Bulkers, Ro-Ros, Cruises, Ferries, Gas Carriers, and General Cargo vessels, irrespective of their size or age. Founded in 2014, bound4blue operates with headquarters in Cantabria, Spain, and additional offices in Barcelona and Singapore, focusing on renewable energy in the maritime sector. Since its first installation in 2021, bound4blue has successfully deployed its eSAIL® system on seven ships, with an additional 13 vessels currently in its order book, representing more than 50 eSAILs®. The company's growing client portfolio includes prominent industry leaders such as Eastern Pacific Shipping, Maersk Tankers, Odfjell, Klaveness Combination Carriers, and Louis Dreyfus Company, underscoring its impact and acceptance within the global shipping community. This substantial capital injection is expected to accelerate bound4blue's strategic growth initiatives. The company plans to utilize the funds to scale its operations, expand its market reach, and further develop its wind propulsion technology. This investment positions bound4blue to continue its mission of driving sustainable practices and offering innovative solutions for the decarbonization of the international shipping industry.