BlueBull advises Bound4Blue’s shareholders in a €5M capital raising

About the transaction

BlueBull acted as the exclusive financial advisor to Bound4Blue’s partners in the €5m financing round to lead the implementation of wind-assisted technologies in maritime transport.

Bound4Blue is a Spanish engineering company that develops automated wind-assisted propulsion systems to reduce pollution and fuel use.

The financing round, in addition to the support of previous partners of the company and the contribution of some public bodies, has made possible the entry of strategic investors such as Aciturri Aeronáutica, CDTI (through its INNVIERTE program), EIT Climate KIC, the Ocean Born Foundation or BLUEBULL PARTNERS through its IMASDE fund, among others

About Bound4Blue

Founded in 2014, Bound4Blue is a company dedicated to the development of automated wind-assisted propulsion systems as a solution for shipowners and shipping companies seeking to reduce fuel costs and polluting emissions.

The company is headquartered in Cantabria and has offices in Barcelona and Singapore.

Bound4blue's eSAIL® system is an optimal solution for fuel and emissions savings, with low cost, low maintenance, easy installation on board and fully automated.

The market in which this technology will be implemented has a potential turnover of more than 66 billion euros.

During 2021 the company will install its eSAIL system, an optimal solution for fuel and emissions savings, with low cost, low maintenance, easy onboard installation and fully automated, on two additional vessels, and is also working with other shipowners to extend the system beyond 2021.

Some of the investors

aciturri-logo

Aciturri is a leading Spanish supplier of aerostructures and engine components, with more than 44 years of experience.

cdti-logo

The CDTI is the body of the General State Administration that supports innovation. Through the Innvierte Economía Sostenible initiative, it supports and facilitates the capitalization of technology companies.

climate-kic

EIT Climate KIC is the EU's climate innovation agency. Headquartered in Amsterdam, EIT Climate-KIC operates from 13 centers across Europe and is active in 39 countries.

ocean-born

Ocean Born Foundation is an organization focused on sustainable production and ocean clean-up and conservation.

Leader in wind-assisted propulsion systems

The funding round opens a new stage in the development and implementation of rigid sails for the shipping industry.

As part of the transition to a more sustainable energy model, and in clear harmony with the objectives of the International Maritime Organization (IMO), the maritime industry is in a continuous search for innovative solutions that will enable new quotas of sustainability and cost savings to be achieved. The use of wind as a means of auxiliary propulsion is undoubtedly a natural step in this transition, which is why bound4blue is firmly committed to its development and commercialization.

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