Company Research Report: bound4blue

Company Overview

• Name: bound4blue

• Mission: To deliver automated wind-assisted propulsion systems that harness renewable energy as a turnkey solution to all shipowners and operators looking to improve the environmental and economic performance of their fleet.

• Vision: To power the world with wind.

• Founded: 2015

• Founders: José M. Bermúdez, Cristina Aleixandri, David Ferrer

• Key People:

• José M. Bermúdez, CEO & Co-founder

• Cristina Aleixandri, COO & Co-founder

• David Ferrer, CTO & Co-founder

• Dina Meriny, Chief Business Officer

• Headquarters: Barcelona, Spain

• Number of Employees: No information is available.

• Revenue: No information is available.

• What the Company is Known For: Specializes in wind-assisted propulsion systems, particularly the eSAIL® technology to improve fuel efficiency and reduce emissions for vessels.

Products

eSAIL® Technology

• High-level Description:

The eSAIL® is a suction sail system designed to serve as an auxiliary propulsion system for vessels, utilizing wind energy to reduce fuel consumption and emissions.

Key Features of eSAIL®:

• Fuel Consumption Reduction: Capable of reducing fuel consumption by up to 40%.

• Payback Period: Less than five years.

• Autonomous Operation: Requires no crew for operation, enhancing ease of integration into existing ship operations.

Recent Developments

1. Product and Feature Enhancements:

• 01.10.2024: Aerodynamic optimization of the eSAIL® for advancing wind-assisted propulsion.

• 23.10.2024: Tackling wind power’s aerodynamic interference challenge with the POINT release at RINA 2024.

2. New Product Launches and Installations:

• December 2021: A 17-metre-high eSAIL was installed on the general cargo vessel La Naumon in Spain, recognized as the largest suction sail in the world at the time.

• March 2022: Installation on the EEMS Traveller, a general cargo vessel with two 17-metre-high eSAILs®.

• June 2023: Eems Traveller equipped with two suction eSAILs, marking a record for the largest suction sails installed on a ship.

3. Strategic Partnerships and Contracts:

• May 2022: Contract with Louis Dreyfus Armateurs for equipping a RoRo vessel with fixed suction sails.

• November 2022: Partnership with the Japanese corporation Marubeni for wind-assisted propulsion systems on a Panamax bulk carrier.

• May 2023: Partnership with Oceanking to expand eSAIL technology access in Greece and Cyprus.

• June 2023: Strategic partnership with Marubeni Corporation to promote and sell eSAIL systems in Japan.

• May 2024: Contract with Marflet Marine for the installation of eSAIL® systems on the tanker Santiago I.

4. Funding and Financial Milestones:

• August 2023: Successful Series A funding round, raising €22.4 million, including €6.5 million in grants.

These advancements demonstrate bound4blue's commitment to pioneering the adoption of wind-assisted propulsion technology across various maritime sectors, aligning with growing global sustainability objectives.