bound4blue, which makes high-tech sails for ocean vessels, has closed a $44 million funding round. The company will use the funds to deepen R&D, expand commercial offerings, and expanding manufacturing capacity to supply hundreds of suction sails annually.
Merchant vessels rely on the thrust delivered by their main engine for propulsion. These engines burn enormous amounts of fuel, resulting in large fuel-bills and pollutant emissions levels. Like sails have always done, Wind-Assisted Propulsion Systems (WAPS) use wind to propel the vessel forward, reducing fuel consumption and pollutant emissions.
But, the company said, its eSAIL suction sail can deliver the same propelling force as a conventional sail using six to seven times less surface area. So it can maximize fuel savings in a cost-efficient way.
The round was led by OCTAVE Capital, an investment platform affiliated with major shipowner IMC, and Katapult Ocean. The round brings together new investors including Motion Ventures, Odfjell family office and ReOcean Fund–led by the Prince Albert II of Monaco Foundation and Monaco Asset Management–alongside existing investors Shift4Good, GTT Strategic Ventures, KAI Capital and CDTI (Innvierte SICC), who strengthened their commitment to the company.
“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,” said José Miguel Bermúdez, CEO & Co-Founder of bound4blue. “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. It confirms that bound4blue is built on solid foundations and positioned for sustained global deployment,” he added.
The company has already installed its technology on seven vessels, with a further twelve ships in the orderbook, representing more than fifty sails in total. These projects span leading owners such as Maersk Tankers, Eastern Pacific Shipping, Odfjell, Klaveness Combination Carriers and BW Epic Kosan.
By 2027, the company said it expects to deliver annual CO₂ savings of more than 400,000 tons, with over 570,000 tons avoided in total between 2024 and 2027.
“We invested in bound4blue because wind propulsion systems have moved from promising innovation to proven, scalable climate infrastructure,” said May Liew, Chief Executive Officer at OCTAVE Capital. “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. With bound4blue industrialising production across both Europe and Asia, the team is well positioned it to lead the category worldwide. As an impact-driven investor with an interest in decarbonising hard-to-abate sectors, we believe bound4blue will play a critical role in accelerating shipping’s transition while delivering measurable carbon savings from day one.”
