Wind propulsion company bound4blue has closed a $44 million funding round backed by maritime corporates, climate investors, and government capital.
The round was led by OCTAVE Capital and Katapult Ocean, with new investors including Motion Ventures, Odfjell family office, and ReOcean Fund, alongside existing backers.
José Miguel Bermúdez, CEO & Co-Founder, said: “This funding enables us to expand capacity, accelerate our growth roadmap and advance new developments that will elevate both the technology and our services. It confirms that bound4blue is built on solid foundations and positioned for sustained global deployment.”
The investment supports full industrialisation of suction sails, expanding production in Spain and China to supply hundreds of sails annually.
Already installed on seven vessels, with 12 more in the orderbook, bound4blue serves leading owners such as Maersk Tankers, Odfjell, and Klaveness Combination Carriers.
By 2027, the technology is expected to save over 400,000 tonnes of CO2 annually, equivalent to removing 87,000 cars from the road or planting 18 million trees.
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May Liew, CEO of OCTAVE Capital, said: “Wind propulsion systems have moved from innovation to proven climate infrastructure. Bound4blue is well positioned to lead the category worldwide and deliver measurable carbon savings from day one.”
Jonas Skattum Svegaarden, CEO at Katapult Ocean, added: “Bound4blue has proven it can deliver meaningful, verifiable fuel and emissions reductions. Their technical performance, commercial traction, and global supply chain ambition make them a cornerstone solution for a cleaner ocean economy.”
Bound4blue’s eSAILs® suction sails cut fuel consumption and CO2 emissions, delivering double-digit savings and compliance with CII, EEXI/EEDI, and EU ETS.
Verified results show up to 40 per cent fuel reductions on transatlantic voyages. Unlike alternative fuels, suction sails can be retrofitted on today’s vessels or integrated into newbuilds, offering immediate decarbonisation benefits.
For more information:
bound4blue – https://bound4blue.com/
