World News
Shipping Wind Power Start-Up Raises €10.5 Million in Funding
Engineering start-up AYRO, which is developing wind power systems for ships, has raised €10.5 million in funding to help the company grow.
The firm has raised the sum from Ocean Zero, BPI France and Mer Invest, the company said in an emailed statement on Tuesday.
The company makes the wind power system Oceanwings. The organisation plans to use the money to set up an Oceanwings production facility in Normandy as well as to boost its sales and marketing operation.
"We were particularly impressed by AYRO's high-end technology," Jason Bigeard, investment director at BPI France, said in the statement.
"The environmental impact is a current topic, especially within the maritime industry.
"Through the 'Plan Climat' of Bpifrance, we assist companies in their ecological and environmental transition plan and support those with a significant impact on the environment.
"Thanks to recent regulations and the evolution of stakeholder awareness on environment issues, the market for hybrid wind propulsion is going to take off very soon."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
Popular Now More
-
Apr 24Non-compete clauses have not always been used in a fair and reasonable way in the bunker industry, Maritime Recruitment Company Ltd's Vernon Jayanathan tells Ship & Bunker. -
Apr 25The new hire was previously a marine fuel trader for Vilma Oil in Madrid from June 2017 to last month. -
Apr 24The arrests were both on Monday.