1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC Accelerator program is a strategic initiative under the European Innovation Council (EIC) designed to support small and medium-sized enterprises (SMEs) and startups, particularly those engaged in deep technology innovations. The program aims to transform groundbreaking ideas into market-ready products or services, thereby fostering economic growth and creating jobs within the European Union. It provides a unique blend of funding opportunities, combining grants and equity investments, which can significantly enhance the financial capabilities of participating companies.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers a two-pronged funding structure, comprising grants and equity investments.

Purpose in the European DeepTech and Startup Ecosystem

The primary purpose of the EIC Accelerator is to stimulate innovation within the European ecosystem, focusing particularly on deep tech sectors such as clean energy, biotechnology, and advanced manufacturing. By providing both financial resources and strategic guidance, the program encourages startups to develop solutions that address pressing societal challenges, including climate change and digital transformation.

Role in Scaling Companies and Securing Private Funding

The EIC Accelerator plays a pivotal role in enabling companies to scale by offering not just financial support but also access to an extensive network of investors, mentors, and industry experts. By facilitating connections between startups and potential private investors, the program helps companies secure additional funding that is essential for growth. This combined approach ensures that innovative companies are not only financially viable but also strategically positioned to succeed in highly competitive markets.

Summary of EIC Accelerator Winner: BOUND 4 BLUE SL

BOUND 4 BLUE SL is a Spanish startup that has garnered recognition through the EIC Accelerator for its innovative project, bound4blue. This project focuses on developing advanced sails aimed at significantly reducing the environmental impact and operational expenditures (OPEX) of maritime transport. The initiative aligns with the global push for greener technologies and sustainable practices in shipping, a sector traditionally reliant on fossil fuels.

Technology Basics and Background

The technology behind bound4blue involves the integration of automated sail systems that harness wind energy to propel ships. By utilizing advanced materials and aerodynamics, these sails are designed to optimize wind capture, thereby reducing fuel consumption and emissions. The innovation stems from extensive research into aerodynamic efficiency and materials science, enabling the sails to be both lightweight and robust.

The sails are engineered to be deployable and retractable, allowing for flexibility depending on weather conditions and operational requirements. This adaptability enhances the operational efficiency of vessels and represents a significant advancement in maritime technology.

As the maritime industry continues to face increasing regulatory pressures regarding emissions, the bound4blue project presents a viable solution to enhance sustainability while simultaneously reducing costs. The potential for widespread adoption of this technology could revolutionize the shipping sector, making it more environmentally friendly and economically sustainable.

In summary, the EIC Accelerator program serves as a crucial catalyst for innovation in the European deep tech landscape, exemplified by the success of BOUND 4 BLUE SL and its groundbreaking project, bound4blue. By supporting such initiatives, the EIC Accelerator reinforces its commitment to fostering a sustainable future through technological advancement.

2 The Funding Rounds

Bound4blue, a Spanish company specializing in automated wind-assisted propulsion systems for maritime transport, has secured significant funding since receiving the EIC Accelerator Program grant on June 16, 2021.

Funding Rounds and Amounts:

• July 2021: Bound4blue completed a €5 million financing round, with contributions from Aciturri Aeronáutica S.L., CDTI (Centro para el Desarrollo Tecnológico Industrial) through its Innvierte program, EIT Climate KIC, the Ocean Born Foundation, and Arcano Partners via its IMASDE fund. (aciturri.com)
• September 2023: The company raised €15.9 million in a Series A funding round led by GTT Strategic Ventures. Other participants included the EIC Fund, Shift4Good, Louis Dreyfus Company Ventures, the Sustainable Ocean Alliance, Sun Returns, Kai Capital, and existing investors such as the Ocean Born Foundation and CDTI. (maritime-executive.com)

Investor Information:

• GTT Strategic Ventures: The venture capital arm of GTT, a leader in cryogenic membrane containment systems for LNG transport and storage. (maritime-executive.com)
• EIC Fund: Operates within the European Innovation Council's mandate to support high-impact innovations within the EU. (maritime-executive.com)
• Shift4Good: A venture capital firm focused on supporting companies in the climate tech sector. (maritime-executive.com)
• Louis Dreyfus Company Ventures: The investment arm of Louis Dreyfus Company, a major dry bulk operator. (maritime-executive.com)
• Aciturri Aeronáutica S.L.: A Spanish aerospace company that joined Bound4blue's capital in July 2021. (aciturri.com)
• CDTI (Centro para el Desarrollo Tecnológico Industrial): A Spanish government body supporting innovation through grants and partially reimbursable aids. (aciturri.com)

Additional Funding:

• 2021: Bound4blue received a €2.4 million grant from the EIC Accelerator Program. (maritime-executive.com)
• 2022: The company secured a €4.1 million grant from the Innovation Fund Program, awarded by CINEA (European Climate, Infrastructure, and Environment Executive Agency). (maritime-executive.com)

Company Valuations and Exit Events:

Specific valuations for Bound4blue during these funding rounds are not publicly disclosed. As of now, there are no reported exit events for the company.

These funding efforts underscore Bound4blue's commitment to advancing wind-assisted propulsion technologies, aiming to reduce fuel consumption and emissions in the maritime industry.

3 The Press Releases

Since receiving the EIC Accelerator funding on June 16, 2021, bound4blue SL, a Spanish company specializing in wind-assisted propulsion systems for maritime transport, has made significant strides in technology development, partnerships, and market expansion.

Technological Advancements

In July 2021, bound4blue secured a €5 million financing round, with contributions from Aciturri Aeronáutica, S.L.U., CDTI, EIT Climate KIC, the Ocean Born Foundation, and ARCANO PARTNERS through its IMASDE fund. This funding aimed to advance the development and implementation of their eSAIL® technology, a wind-assisted propulsion system designed to reduce fuel consumption and emissions in the shipping industry. (aciturri.com)

Partnerships and Collaborations

In May 2023, bound4blue partnered with Oceanking to expand access to their eSAIL technology in Greece and Cyprus. This collaboration aimed to provide innovative and cost-efficient solutions to the Greek shipping industry, supporting its decarbonization goals. (maritime-executive.com)

In November 2024, bound4blue secured a major contract with Maersk Tankers to install 20 of their 26-meter eSAILs® across five MR tankers. This agreement marked a significant milestone, reinforcing the effectiveness of wind-assisted propulsion systems in enhancing fleet sustainability. (blue-c.no)

Team Expansion

In November 2024, bound4blue appointed Daniel Mann as Chief Commercial Officer (CCO). With over 25 years of experience in the maritime and energy sectors, Mann's appointment was expected to drive the growth and adoption of eSAIL® technology, positioning bound4blue as a leader in the wind-assisted propulsion market. (offshoresource.com)

Market Expansion and Installations

In October 2024, bound4blue extended its cooperation with Amasus, a major player in the shortsea, bulk, general cargo, offshore, and heavy lift segments. Amasus ordered a 22-meter eSAIL® for installation on one of their vessels, with the retrofit scheduled for mid-2025 at the Astander Shipyard in Santander. This installation was expected to set a new benchmark as the largest suction sail system on a general cargo vessel. (projectcargojournal.com)

In February 2024, bound4blue was selected to install a 72-foot-high eSAIL® on the newbuild multipurpose cargo ship NA PAE E HIRO. This marked the first time their technology was chosen for a new build, highlighting the growing appreciation of their unique offer within the global marketplace. (supplychainbrain.com)

In March 2025, Odfjell installed four 22-meter-tall eSAILs® on the Bow Olympus, a chemical tanker. The installation was completed at the EDR Antwerp Shipyard, and the vessel embarked on a transatlantic voyage to document the energy-saving effects of the system. This collaboration demonstrated the potential of wind-assisted propulsion systems in reducing fuel consumption and emissions in the maritime industry. (odfjell.com)

In October 2023, bound4blue joined the Arctic Ocean Action initiative, a global effort aimed at reducing the environmental impact of Arctic shipping. The initiative advocates for cleaner fuels, scrubber bans, and addresses climate pollutants like black carbon. By joining this initiative, bound4blue emphasized its commitment to advancing sustainable shipping solutions and promoting responsible maritime practices. (bound4blue.com)

These developments underscore bound4blue's dedication to technological innovation, strategic partnerships, and market expansion, positioning the company as a key player in the transition towards sustainable maritime transport.

4 The Technology Advancements

Bound4Blue SL, a Spanish engineering company founded in 2014, specializes in developing automated wind-assisted propulsion systems for maritime transport. Their flagship technology, the eSAIL®, is an innovative wing sail system designed to harness wind energy, aiming to reduce fuel consumption and emissions in the shipping industry. (eic.ec.europa.eu)

Advancements Since EIC Accelerator Funding

In June 2021, Bound4Blue received €2.4 million in funding from the European Innovation Council (EIC) Accelerator Program. This support has been instrumental in advancing their technology and expanding their market presence.

Technological Improvements and New Features

Since the funding, Bound4Blue has made significant strides in refining their eSAIL® technology. The system is designed for easy installation, low maintenance, and offers a payback period of less than five years across various vessel types, including LNG carriers, bulk carriers, tankers, Ro-Ro ships, general cargo, ferries, and cruises. (maritime-executive.com)

Market Demonstrations and Partnerships

In July 2021, Bound4Blue successfully installed its eSAIL® system on a fishing vessel owned by the Galician shipowner ORPAGU. The vessel embarked on its first operational voyage in Panamanian waters with the system fully functional. (aciturri.com)

In September 2023, Bound4Blue secured a €15.9 million Series A funding round led by GTT Strategic Ventures, with participation from the EIC Fund, Shift4Good, Louis Dreyfus Company Ventures, and others. This funding, complemented by a €4.1 million grant from the Innovation Fund Program awarded by CINEA in 2022, brings the total financing to €22.4 million. The capital is intended to support the rollout of their eSAIL® technology and scale up operations to meet the growing demand for zero-emission propulsion solutions in shipping. (maritime-executive.com)

Patents and Publications

While specific details about new patents or scientific publications post-funding are not readily available, Bound4Blue's continuous innovation in wind-assisted propulsion systems underscores their commitment to advancing maritime decarbonization technologies.

In summary, Bound4Blue SL has effectively utilized the EIC Accelerator funding to enhance their eSAIL® technology, establish strategic partnerships, and secure additional investments, positioning themselves as a leader in sustainable maritime propulsion solutions.

5 The Partnerships and Customers

Since receiving the EIC Accelerator funding on June 16, 2021, bound4blue SL, a Spanish company specializing in wind-assisted propulsion systems for maritime vessels, has significantly expanded its partnerships and customer base.

New Partnerships and Customers:

• Marflet Marine: In May 2024, bound4blue signed a contract with Marflet Marine, a longstanding Spanish private shipping company, to install four 22-meter-high eSAILs® on the oil and chemical tanker Santiago I. This installation, scheduled for mid-2025, marks Marflet Marine as the first Spanish merchant fleet owner to adopt wind-assisted propulsion, aligning with their decarbonization strategy. (bound4blue.com)
• Louis Dreyfus Company (LDC): In December 2023, LDC, a global merchant and processor of agricultural goods, partnered with bound4blue to install four 26-meter-high eSAILs® on their chartered juice vessel, MV Atlantic Orchard. The installation, planned for 2024, aims to reduce annual fuel consumption and CO₂ emissions by at least 10%, supporting LDC's commitment to a low-carbon economy. (ldc.com)
• Oceanking: In May 2023, bound4blue formed a partnership with Oceanking, a Greece-based marine technology solutions provider, to jointly expand access to eSAIL technology in Greece and Cyprus. This collaboration aims to offer innovative wind-assisted propulsion solutions to the Greek shipping industry, promoting sustainability and decarbonization. (offshore-energy.biz)
• Amasus Shipping: In October 2024, Amasus Shipping, a European shipping company, signed a contract with bound4blue to retrofit a 22-meter-high eSAIL® on a 90-meter, 3,000 dwt general cargo vessel. This installation, scheduled for mid-2025, will set a new benchmark as the largest suction sail system on a general cargo vessel, following the successful implementation of two 17-meter-high eSAILs® on the Eems Traveller in July 2023. (drydockmagazine.com)

Nature and Purpose of New Relationships:

These partnerships are strategically aligned to advance the adoption of wind-assisted propulsion technologies in the maritime industry. By integrating eSAILs® into their fleets, these companies aim to achieve significant reductions in fuel consumption and greenhouse gas emissions, thereby enhancing operational efficiency and compliance with environmental regulations.

Market Positioning and Technological Advancements:

The collaborations with industry leaders such as Marflet Marine, LDC, Oceanking, and Amasus Shipping position bound4blue as a key player in the wind-assisted propulsion sector. These partnerships not only validate the effectiveness of eSAILs® but also expand the company's market reach across Europe and into new regions like Greece and Cyprus. The successful implementation of these technologies on various vessel types, including tankers, general cargo ships, and specialized vessels, demonstrates bound4blue's capability to cater to diverse maritime needs.

Furthermore, the ongoing installations and collaborations provide valuable data and insights, facilitating continuous technological advancements and refinements in eSAIL® systems. This iterative process enhances the scalability and adaptability of the technology, reinforcing bound4blue's position at the forefront of sustainable maritime solutions.

In summary, since securing the EIC Accelerator funding, bound4blue SL has successfully expanded its partnerships and customer base, contributing to the widespread adoption of wind-assisted propulsion technologies in the maritime industry. These strategic alliances not only bolster the company's market presence but also drive technological innovation and scaling, aligning with global efforts towards sustainable shipping practices.

6 The Hiring and Company Growth

BOUND 4 BLUE SL: Team Growth and Development

Since winning the EIC Accelerator funding in June 2021, BOUND 4 BLUE SL has continued to grow and enhance its team. The company is a cleantech engineering firm focused on harnessing wind energy for shipping through innovative wind propulsion systems, particularly its eSAIL technology.

Current Headcount

BOUND 4 BLUE SL currently employs between 10 and 49 employees, as reported recently. This range indicates a small but growing team, reflecting the company's early-stage development.

Hiring Activities

While specific hiring announcements are not detailed, the appointment of Daniel Mann as Chief Commercial Officer (CCO) in November 2024 is a significant move. Mann brings over 25 years of industry experience, which will likely play a crucial role in scaling the company's eSAIL technology globally.

Team Growth

Since its inception in 2015, bound4blue has evolved from conceptualizing wind propulsion to developing and validating its eSAIL technology. The company's growth trajectory is marked by its transition from a small startup idea to a recognized player in wind-assisted propulsion systems.

Key Positions and Recent Hires

The key hire of Daniel Mann as CCO marks a strategic step towards expanding the company's market presence and accelerating the adoption of its technology. Mann's extensive background in maritime and energy businesses will help bound4blue connect with new markets and strengthen customer relationships.

Impact on Future Growth

Mann's appointment and the overall team growth are pivotal for bound4blue's future. These developments position the company to capitalize on increasing demand for sustainable shipping solutions, particularly as regulations tighten and environmental concerns escalate. The eSAIL technology offers shipowners a cost-effective path to reduce emissions and comply with environmental regulations, making bound4blue a leader in this niche.

Major Changes in Management

There are no reported major changes in the founding team. However, the addition of experienced professionals like Daniel Mann indicates a strategic expansion of the management team to support business growth.

Conclusion

BOUND 4 BLUE SL is poised for significant growth, driven by its innovative technology and strategic personnel appointments. As the shipping industry seeks sustainable solutions, bound4blue's expertise in wind-assisted propulsion positions it well to meet this demand and scale its operations.

---

Sources:

• bound4blue.com
• bound4blue.com
• developmentaid.org
• impact.dealroom.co
• infoempresa.com
• bound4blue.com

7 The Media Features and Publications

BOUND 4 BLUE SL, a Spanish company specializing in rigid wingsail technology for vessels to reduce fuel consumption and emissions, has garnered significant media attention, participated in key industry events, and engaged in interviews and presentations since receiving its EIC Accelerator funding in June 2021.

Media Features and Publications

BOUND 4 BLUE has been featured prominently in maritime industry media. A notable recent article on The Maritime Executive detailed the successful installation of three of their eSAIL® suction sails on the EPS tanker vessel Pacific Sentinel at Besiktas Shipyard in Turkey. This installation marked a milestone as the first on a tanker vessel by bound4blue, showcasing their wind-assisted propulsion system's potential to reduce energy consumption by around 10%, thereby cutting operational costs and emissionsmaritime-executive.com.

Additionally, CleanTechnica published an interview with co-founder José Miguel Bermúdez discussing how bound4blue’s wingsail system can reduce fuel-related costs and emissions by up to 30%, emphasizing the founders’ aeronautical engineering background that helped adapt high-lift devices for commercial shipping needscleantechnica.com.

The company is also listed as an innovative participant within the Start Up Energy Transition (SET) program database under Smart Mobility categories highlighting its patented foldable wingsail technology aimed at maritime decarbonizationstartup-energy-transition.com.

BOUND 4 BLUE maintains a dedicated Media section on its website offering videos demonstrating their sails’ operation—such as installations on various vessels including Eems Traveller crossing the Atlantic Ocean—and downloadable graphic resources useful for presentations or publicationsbound4blue.com.

Podcasts and Interviews

One prominent interview is part of the International Windship Association’s "Listening to the Wind" series featuring David Ferrer, Co-founder & CTO of bound4blue. In this podcast/video interview, Ferrer discusses technical development challenges, regulatory drivers such as emission limits prompting wind propulsion innovations, and shares insights into scaling up from an engineering concept into a viable business since founding bound4blue in 2014. This content provides deep insight into both technical aspects of their products and company visionyoutube.com.

Conference Participation & Presentations

David Ferrer represented BOUND 4 BLUE at several conferences including:

• The Greener Shipping Summit 2023 where he presented an overview of BOUND 4 BLUE’s mission to deliver automated wind-assisted propulsion systems aimed at reducing fuel costs and pollutant emissions. Presentation materials highlight ongoing installations across different vessel types (general cargo ship Eems Traveller; Ro-Ro Ville de Bordeaux; MR Tanker; Bulker Crimson Kingdom) with approvals from classification societies like Bureau Veritas, DNV-GL, Class NKconference21.newsfront.gr.
• February 2023 RINA Wind Propulsion Conference held in London where they showcased validated performances from wind tunnel tests conducted at IAT Saint Cyr.

These engagements underscore BOUND 4 BLUE’s active role within industry forums focused on sustainable maritime technologies.

Event Involvement

Bound for Blue actively participates not only through presentations but also via product demonstrations during drydock installations such as that performed during scheduled maintenance for Eastern Pacific Shipping's Pacific Sentinel tanker. Their streamlined “single-stop” installation process reduces downtime—a critical factor emphasized publicly by David Ferrer—showing close collaboration with shipowners, operators, shipyards facilitating rapid deployment without disrupting operations significantly.

The company also continues expanding its footprint through multiple ongoing eSAIL® installations planned or underway across diverse vessel segments targeting compliance with increasingly stringent environmental regulations worldwide.

---

In summary:

Aspect	Details
Media Features	Articles on Maritime Executive; CleanTechnica interview; inclusion in SET database
Publications Content	Coverage focuses on technology benefits (fuel savings/emissions), engineering innovation
Podcasts / Interviews	"Listening to the Wind" podcast with CTO David Ferrer providing technical/business insights
Conferences / Presentations	Greener Shipping Summit (2023); RINA Wind Propulsion Conference (London Feb ‘23); multiple presentations
Event Participation	Demonstrated fast-track sail installation processes during drydocks; active collaboration with shipowners & yards

This collective exposure highlights BOUND 4 BLUE SL’s growing influence as a pioneer delivering practical wind-assisted solutions driving maritime decarbonization from Spain onto global waters since winning EIC Accelerator funding mid-2021.

Source URLs

• https://bound4blue.com/media/
• https://maritime-executive.com/corporate/bound4blue-installs-three-sails-on-an-eps-product-tanker
• https://cleantechnica.com/2021/08/20/the-power-of-wind-interview-with-bound4blue-founder/
• https://conference21.newsfront.gr/images/presentations/David_Ferrer_-_bound4blue.pdf
• https://www.youtube.com/watch?v=KN_xzNKR80Q
• https://www.startup-energy-transition.com/set100-database/bound-4-blue/