Ayro raises funds for ‘Oceanwings’
The French firm Ayro, a start-up that specialises in hybrid wind propulsion systems for maritime transport, has raised EUR 10.5 million to further develop its wingsail solution.
Ayro designs, manufactures and sells ‘Oceanwings’, which can decrease fuel consumption on large cargo ships by up to 45%. The system can help shipping lines comply with environmental regulations.
The funds raised in this investment round have come from Ocean Zero (USA), a fund that invests in companies that could make breakthroughs for the decarbonisation of maritime transport, Bpifrance (France), an equity investor in innovative projects, and Mer Invest (France), which encourages the development of maritime activities in western French regions.
The money will be used to boost Oceanwings development and industrialisation, to start a production facility in Caen-Blainville, Normandy (France) and to reinforce sales and marketing efforts.
Last year, Ayro signed a contract for four Oceanwings363 wingsails to be fitted on the ship ‘Canopée’, a ro-ro vessel under construction that will be launched next year and chartered by the Ariane Group.