Aciturri invests in bound4blue

The company joins CDTI and other firms in the project of the wind propulsion system developer for maritime transport.

Aciturri Aeronáutica, S.L.U. and CDTI (Centro para el Desarrollo Tecnológico Industrial) through its Innvierte program, have reached an agreement with BOUND 4 BLUE, S.L., to join the company's capital after a €5,000,000 financing round in which EIT Climate KIC, the Ocean Born Foundation and ARCANO PARTNERS through its IMASDE fund are also participating.

Aciturri completes its commitment by including in the agreement the contribution of engineering services for the development of bound4blue's business project.

Following this financing round, the firm opens a new stage in the development and implementation of its rigid sail technology (eSAIL®) for the shipping industry. As part of the transition towards 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 to achieve new levels of sustainability and cost savings. And without a doubt, the use of wind as a means of auxiliary propulsion is a natural step in this transition, which is why it is firmly committed to its development and commercialization.

A few weeks ago, bound4blue successfully installed its eSAIL® system on a fishing vessel belonging to the Galician shipowner ORPAGU, which undertook its first voyage with the system fully operational in Panamanian waters.

Bound4blue will use the funds to promote the implementation of eSAIL® technology in a market with a potential turnover of more than 66 billion euros, thanks to which bound4blue expects to position itself as a leading company in the sector of wind-assisted technologies for the shipping industry.

The incorporation of Aciturri into bound4blue is part of the company's strategy of diversification into new sectors, based on the support of projects to which, in addition to capital, it contributes knowledge, experience and technology.

BOUND 4 BLUE

bound4blue is a Spanish engineering company that develops automated wind-assisted propulsion systems as a turnkey solution for all shipowners and shipping companies seeking to reduce fuel costs and pollutant emissions. bound4blue's eSAIL® system is an optimal solution for fuel and emission savings, with low cost, low maintenance, easy installation on board and fully automated. The company, founded in 2014 with a vocation clearly focused on the renewable energy sector in the maritime field, today has its headquarters in Cantabria, and offices in Barcelona and Singapore. During this 2021, the company will install its eSAIL® system on two additional vessels, and is also working with other shipowners to extend the system in their fleets beyond 2021.

For more information, visit: www.bound4blue.com

CDTI

The CDTI is the body of the Spanish Government Administration that supports knowledge-based innovation, advising and offering public aid for innovation through subsidies or partially reimbursable aid. The CDTI also internationalizes the R&D and innovation business projects of Spanish companies and entities and manages Spanish participation in international R&D&I organizations, such as Horizonte2020 and Eureka, and in the Science and Space industries. Additionally, through the Innvierte Economía Sostenible initiative, it supports and facilitates the capitalization of technology companies.

EIT CLIMATE KIC

EIT Climate KIC is part of the Knowledge and Innovation Community (KIC), working to accelerate the transition to a cleaner and more climate-resilient society. With the support of the European Institute of Innovation and Technology, EIT Climate KIC identifies and supports innovations that help society mitigate and adapt to the effects of climate change. EIT Climate KIC believes that a sustainable decarbonized economy is not only necessary to prevent catastrophic climate change, but also represents a great opportunity for business and society as a whole.

ARCANO PARTNERS

Arcano Partners is an independent firm with more than 18 years of experience in international financial advisory and asset management. Founded in 2003, it is a leading investment management and financial advisory firm, with offices in Madrid, Barcelona, Valencia and New York, and a team of more than 180 professionals. Within ARCANO, the investment banking department has more than 70 professionals in Spain and has successfully closed more than 120 transactions since 2016.

OCEAN BORN FOUNDATION

The OBF is an international organization whose goal is to bring competitive products to market, responding to real demand and ensuring that they are produced with the lowest possible environmental impact. All profits (100%) from its brands and products are given as grants or donations from the foundation to organizations and projects dedicated to the cleanup and conservation of the oceans.