French start-up Vela Transport has raised €40m ($44m) for its sailing cargo trimaran newbuilding, its broker BRS Group says.
The “significant funding round” was led by Credit Mutuel Impact, US environmental company 11th Hour Racing and investment bank Bpifrance.
BRS worked with Vela Transport to select Australian shipyard group Austal to build the vessel for delivery in the second half of 2026, after a global tender process lasting more than nine months.
The wind-powered trimaran is leading the way for sustainable maritime innovation, the broker said.
The ship, which will be built in the Philippines, has been designed for transatlantic shipping with zero emissions in mind.
“Transforming international cargo transportation for a greener future has led Vela, a pioneering French company, to address the challenge around climate change by innovating and pushing for a 100% wind-powered maritime transport,” BRS said.
“The aim of this newbuilding vessel is to provide reliability and sustainability standards for transatlantic shipping; to explore new routes to lower emissions while the maritime industry sails towards the direction of decarbonisation.”
The 67-metre-long ship, designed by naval architect VPLP, will have a hull of aluminium and a carbon mast, more than 300 square metres of photovoltaic panels and two hydro-generators.
TradeWinds reported in August that a deal had been signed with Austal for a ship that would eliminate virtually all greenhouse gas emissions.
The companies are not disclosing the exact price, but it is between AUD 40m and AUD 45m ($27m to $30m).
