GTT Strategic Ventures, the GTT group venture capital arm, announces its participation in a fund-raising round aimed at supporting Bluefins, an innovative start-up in the field of ship propulsion systems. This investment is made alongside BNP Paribas Développement, Breizh Up (a regional fund managed by UI Investissement), and Bluefins' historical shareholders, including Ifremer, according to GTT's release.
This fundraising of 4 million euros will enable Bluefins to conduct its first sea tests in early 2025, on a 45-meter AHTS-type vessel, and to initiate the commercialization of its first products.
Founded in 2021, the French company Bluefins has developed, in partnership with Ifremer, an articulated hydrofoil technology inspired by the tail fins of whales. This biomimetic propulsion system, installed at the rear of vessels, uses articulated mechanisms to convert pitching motion into forward propulsion. This unique technology optimizes energy efficiency by reducing fuel consumption as well as CO2, SOx, and NOx emissions by around 20%. Additionally, it enhances the stability of vessels by reducing pitching, contributing to safer navigation.
Bluefins' technology is designed to be adaptable to a wide variety of ships, including container vessels, bulk carriers, LNG carriers, and oil tankers, whether new-build or in-service. Bluefins takes into account the architectural specifics, safety requirements, and particular constraints of each type of vessel. This approach ensures optimal integration and high performance, thus meeting the diverse needs of the maritime sector.