AYRO announced the close of a 19.2 million € ($21 m) Series B round, led by Blue Ocean, managed by SWEN Capital Partners, which brings the total funding for the leader in Wind Powered Decarbonation solutions for the maritime sector to over 30 million €.
This major investment in AYRO occurs at a unique moment when both the company and the market are at an inflection point. 2023 was the warmest year on record for the planet, and shipping is expected to represent up to 17% of human CO² emissions by 2050 if no action is taken.
Every year, some 90,000 ships transport nine billion tons of goods globally, accounting for almost 90% of all logistics flows. Reducing the emissions of these ships is an urgent priority.
..said Emmanuel Schalit, AYRO’s new CEO.
In July, AYRO installed 4 OceanWings® 363 wingsails on the Canopée, a groundbreaking vessel dedicated to transporting Ariane 6 space launch system components from Europe to French Guiana, which will enable a 30% reduction in fuel consumption and CO² emissions over its regular route
Blue Ocean backs startups that can deliver both systemic impact for ocean health and competitive market returns. We studied the wind propulsion market in detail for 2 years and concluded that AYRO is clearly positioned to be a global leader in this sector.
..said Christian Lim, managing director of SWEN Capital Partners.
