Shift4Good Backs Bound4blue to pioneer the maritime wind propulsion market

Shift4Good has recently invested in Bound4blue, the European technology developer of automated wind-assisted propulsion systems for maritime transport based in Spain. Bound4blue’s Series A funding totals €22.4M, including €6.5M in grants, which confirm its leadership in a market that is currently experiencing sustained growth.

This investment represents a significant leap forward for the maritime industry in its efforts to decarbonize maritime transport. The shipping industry emits roughly 1 billion tons of CO2 emissions every year due to fuel emissions. Bound4blue technology enables to significantly reduce CO2 emissions by up to 30% on favorable trade routes as well as fuel costs.

Shift4Good investment will enable Bound4blue to advance towards its next strategic milestones: drive further development of the eSAIL® technology and its commercialization, as well as expand the company’s production and personnel capacities.

Find out the full press release here