GTT Strategic Ventures invests in Bluefins to support the development of a more sustainable naval propulsion
GTT Invests in Bluefins for Greener Ship Propulsion Technology
GTT Strategic Ventures, the investment arm of GTT Group, is joining forces with other companies to support Bluefins, a French start-up that creates ship propulsion systems. GTT is working with BNP Paribas Développement, Breizh Up, and Bluefins’ other investors, including Ifremer. Together, they are raising 4 million euros to help Bluefins grow.
This money will allow Bluefins to begin testing its new technology at sea in early 2025 on a 45-meter AHTS vessel. The tests will be the first real-world use of Bluefins’ innovative propulsion system, and they plan to start selling their products after the tests.
Bluefins was founded in 2021 and has partnered with Ifremer to develop a special propulsion system inspired by whale tails. Their technology uses an articulated hydrofoil, which moves like a whale’s fin, to help ships move forward. By using this system, ships can save up to 20% on fuel, as well as lower their CO2, SOx, and NOx emissions. The technology also improves the ship’s stability, making it safer to sail in rough waters.
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What makes Bluefins’ system stand out is its flexibility. The technology can be used on many different types of ships, including container ships, LNG carriers, bulk carriers, and oil tankers. It can be added to both new ships and those already in use. Bluefins carefully studies each ship’s design and safety needs to make sure their system works perfectly with each one.
Hélène Loncin, the head of GTT Strategic Ventures, said, “Bluefins’ technology can greatly improve how ships move through the water. We’re excited to invest in this project and help create more eco-friendly solutions for the maritime industry.”
Olivier Giusti, the president and founder of Bluefins, said, “This funding is a big step forward for us. We’re ready to prove that our system works in real-world conditions and meets the needs of ship-owners.”
About GTT
GTT is a technology and engineering company that designs containment systems for storing and transporting liquefied gases like LNG. For over 60 years, GTT has developed some of the most advanced technologies in the maritime industry. They create systems that help ships use LNG as fuel and develop digital solutions to improve the performance of ships. GTT is also involved in the green hydrogen sector through its subsidiary, Elogen, which makes PEM electrolysers.
