bound4blue, a company specialising in wind propulsion systems for shipping, has raised $44m in its latest funding round.
The investment comes from a group that includes maritime companies, shipping family offices, climate-focused investors, and governmental funds.
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OCTAVE Capital, an investment platform associated with shipowner IMC, and Katapult Ocean led the round.
New backers include Motion Ventures, the Odfjell family office and ReOcean Fund, which is managed by the Prince Albert II of Monaco Foundation and Monaco Asset Management.
Existing investors such as Shift4Good, KAI Capital, GTT Strategic Ventures, and CDTI (Innvierte SICC) have also increased their support.
OCTAVE Capital CEO May Liew said: “We invested in bound4blue because wind propulsion systems have moved from promising innovation to proven, scalable climate infrastructure.
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By GlobalData“For the maritime sector, where long-dated fuel transitions remain critical but still years from wide-scale adoption, this technology provides the real and immediate carbon emissions reductions needed right now.”
The company plans to use the funds to industrialise production of its suction sails technology and increase research and development (R&D).
bound4blue is preparing to expand its manufacturing operations to produce hundreds of sails each year, responding to growing demand across the shipping sector.
bound4blue’s wind propulsion systems, known as “eSAILs,” are designed to generate additional thrust from wind power.
The systems aim to reduce engine loads, fuel consumption, and carbon dioxide emissions on vessels.
According to data verified by third parties, the technology has delivered results such as daily fuel savings of 1.7t on Ville de Bordeaux, with maximum savings reaching 5.4t.
On Odfjell’s Bow Olympus, average fuel reductions were reported between 15% and 20%, with some voyage segments achieving savings of up to 40% during transatlantic operations.
The company has so far installed its eSAILs on seven ships and holds orders for 12 more vessels.
This will represent more than fifty sails once deliveries are complete. Clients include Maersk Tankers, Odfjell, Eastern Pacific Shipping, BW Epic Kosan, and Klaveness Combination Carriers.
bound4blue CEO and co-founder José Miguel Bermúdez said: “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.”
bound4blue expects its technology to result in annual carbon dioxide savings exceeding 400,000t by 2027.
Between 2024 and 2027, the cumulative reduction is projected at over 570,000t. These figures are based on planned parallel production lines in Spain and China.
Industry stakeholders are increasingly looking at retrofitting existing ships with efficiency solutions ahead of regulatory deadlines set for 2030.
bound4blue’s suction sails can be deployed both as retrofits and as part of new vessel designs.
Multiple regulatory frameworks, including CII, EEXI/EEDI, FuelEU Maritime, and EU ETS, provide incentives for shipping operators to adopt solutions that cut emissions and improve fuel efficiency.
