Wind propulsion systems specialist bound4blue has closed a $44m funding round backed by maritime corporates, ship owning families, climate-focused investors, and government capital.
The round was led by OCTAVE Capital, an investment platform affiliated with shipowner IMC, and Katapult Ocean.
New investors include Motion Ventures, the Odfjell family office and the ReOcean Fund, led by the Prince Albert II of Monaco Foundation and Monaco Asset Management.
Existing investors such as Shift4Good, GTT Strategic Ventures, KAI Capital and CDTI (Innvierte SICC), also strengthened their support.
“This round signals a new phase for bound4blue,” said CEO and co-founder of bound4blue José Miguel Bermúdez.
“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. 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,” he added.
According to bound4blue, the new funding will accelerate its shift into full industrialisation of suction sails, expanding manufacturing capacity to supply hundreds of suction sails annually while advancing R&D as the company looks to grow beyond existing commercial offerings.
Since completing its first installation in 2021, the company has deployed its eSAIL® system on seven ships, with 12 more in its order book, representing more than 50 eSAILs®.
Its client portfolio includes Eastern Pacific Shipping, Maersk Tankers, Odfjell, Klaveness Combination Carriers and BW Epic Kosan, among others.
