Blueprint Partners, sole Financial Advisor to AYRO.
Paris, New-York, 13th of September – Blueprint Partners a leading European corporate finance boutique, today announced a €10.5 million investment in AYRO, an industrial start-up that designs and delivers Oceanwings®, a wind propulsion hybrid system for maritime transport, by Ocean Zero (USA), Bpifrance (France) and Mer Invest (France).
Founded in 2018 by Marc Van Peteghem and Nicolas Sdez as a spin-off of the famous French naval architecture firm VPLP, AYRO designs, manufactures and sells Oceanwings®, a wing-sail technology that can decrease fuel consumption on major cargo ships by as much as 45%.
Today, 90% of world trade is carried by the international shipping industry. In 2020, more than 3% of the world’s CO2 emissions were created by cargo ships at sea. Typical container ships consume more than 60,000 gallons of low-grade, high-sulfur fossil fuel per day. As maritime shipping continues to grow, projections call for as much as 17% of all CO2 released into the atmosphere by 2050 will be caused by ships at sea unless significant measures are taken.
The Oceanwings® system can significantly reduce CO2 emissions and help shipping companies comply with new environmental regulations, including the International Maritime Organizations’ regulations that require a reduction in shipping emissions of 45% by 2050.
AYRO’s unique patented technology was originally developed by VPLP Design for the BMW Oracle racing sailboat that won the America’s Cup competition in 2010. Following a prototype from 2017 that tested the Oceanwings concept, two wings were installed on the catamaran “Energy Observer” in 2019. The boat is a floating laboratory that has been sailing around the world for the past 2 years promoting new propulsion technologies with zero harmful emissions. Last year, AYRO signed a major contract for four Oceanwings363® wingsails to be fitted on the ship “Canopée,” a roll-on, roll-off vessel under construction and chartered by ArianeGroup that will be launched next year.
The funds raised in this investment round will be used to boost Oceanwings® development and industrialization, to start up a production facility in Caen-Blainville, Normandy, and to reinforce sales and marketing.