In Spain, wind propulsion company bound4blue raised $44 million on December 9 from a coalition of shipping investors, family offices, and climate funds to scale up production of its suction sail systems, which have demonstrated fuel and emissions savings of up to 40 percent on equipped vessels. The round was led by OCTAVE Capital, affiliated with shipowner IMC, and Katapult Ocean, with participation from Motion Ventures, the Odfjell family office, and the Monaco-backed ReOcean Fund.
The company plans to industrialize its suction sail technology, already in use by Maersk Tankers, Eastern Pacific Shipping, and BW Epic Kosan. The new funding will expand manufacturing capacity to meet rising demand and accelerate development of future models aimed at deep-sea commercial fleets.
The raise reflects a shift in shipping capital toward wind-assisted propulsion as a near-term lever for decarbonization and fuel savings. “Earlier stages focused on proving the technology and validating its impact,” said CEO José Miguel Bermúdez. “Now this new capital reinforces the long-term backing we already have from investors who understand shipping.”
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Category: Sustainable Marine Fuels
