bound4blue has raised US$44 million to accelerate the deployment of its suction sail wind-assisted propulsion technology, with the funding backed by a mix of maritime and climate-focused investors.
The investment round, led by OCTAVE Capital and Katapult Ocean, will support the company’s shift from technology validation into full industrialisation. The money will be used to expand manufacturing capacity, increase R&D activity and prepare for production of hundreds of suction sails each year across facilities in Spain and China.
Operational data from installations on seven vessels to date shows fuel and emissions savings of up to 40% on certain voyages, the company says, with results verified on ships including Ville de Bordeaux and Odfjell’s Bow Olympus. A further twelve vessels are currently in the orderbook.
“This round signals a new phase for bound4blue. Earlier stages focused on proving the technology and validating its impact; now this new capital reinforces the long-term backing we already have from investors who understand shipping and share our industrial vision and the role this technology will play across the fleet,” said José Miguel Bermúdez, CEO and Co-Founder of bound4blue.
“This funding enables us to expand capacity, accelerate our growth roadmap and advance new developments that will elevate both the technology and our services to the next level. It confirms that bound4blue is built on solid foundations and positioned for sustained global deployment.”
Suction sails reduce engine load by generating thrust from wind power. The systems have so far been adopted by owners including Maersk Tankers, Eastern Pacific Shipping, Odfjell, Klaveness Combination Carriers and BW Epic Kosan, targeting both retrofit projects and integration on future newbuilds.
