Join GT Green Technologies’ wind-powered revolution on Seedrs
GT Green Technologies, a Rising Star at Europort 2023 has recently announced that they are crowdfunding on Seedrs as part of their seed capital raise. The green tech start-up’s crowdfunding campaign is now live, meaning that the public is now able to join them on their journey towards a greener maritime future.
About GT Green Technologies
GT Green Technologies is a pioneering force in green technology, dedicated to revolutionising commercial shipping with innovative wind propulsion solutions. Their flagship product, AirWing™ (Figure 1), represents a breakthrough in sustainable maritime technology, allowing shipowners and charterers to reduce fuel consumption and carbon emissions by up to 30%.
At the core of AirWing™ lies a novel airflow manipulation technology, designed to maximise thrust output while maintaining a compact and lightweight profile. This patented innovation makes AirWing™ uniquely suitable for retrofit applications and vessels with limited available deck space. GT Green Technologies understands the urgent need for sustainable shipping solutions, and AirWing™ stands as their tangible and innovative solution to this current challenge.
Key Accomplishments
- GT Green is backed by the UK Government with a grant of £3.7M to fund the manufacture and installation of the first AirWing™. This grant, announced in January 2024, follows on from the c. £300k grant funding secured in 2023.
- In March 2023, GT Green were awarded Start-up of the Year at the prestigious Maritime UK Awards, and in October that was followed by GT being awarded ‘Green Start-up of the Year’ at Rotterdam PortXL.
- GT Green has partnered with Carisbrooke Shipping, who will be installing their first unit on the 124 metre Vectis 11k vessel, with testing scheduled for late 2024/early 2025.
Commercialisation and Future Plans
Regulation is demanding that the maritime sector quickly reduce fossil fuel emissions, and as alternative fuels currently have limited market penetration and remain expensive, the wind propulsion market is growing rapidly. Independent studies for the EU estimate that over 11,000 ships will employ wind propulsion by 2030 (vs ~35 today!) There is a huge market that is currently underserved, that GT is targeting.
Jonny Gambell, Technical Sales Director at GT Green Technologies, commented:
“We have had significant traction with large global ship owners already, with several considering placing orders for 2025 deliveries. We’re also planning to manufacture AirWing™ in modular sections, allowing us to rapidly scale to 30-metre and 40-metre units after the installation of our first AirWing20 unit.”
Funding Update
Will O’Malley, CFO at GT Green Technologies, discussed the fund-raising strategy and the great reception to the crowdfunding campaign.
“Alongside the CMDC4 grant funding, we have had significant interest in our seed capital raise. Two leading sustainability focused VCs have committed to leading our seed round, to be supplemented by the Seedrs crowdfunding campaign. We were excited to welcome over 200 new investors to the funding round in the first week and intend to keep the Seedrs campaign open until the end of February, to allow additional investors to join us.”
Join The Journey
By supporting GT Green Technologies on Seedrs, individuals can contribute to the advancement of sustainable shipping solutions and pave the way towards a greener future. Click here to learn more and become a part of this exciting journey.
Learn more and become a part of this exciting journey
This article is shared by courtesy of GT Green Technologies https://www.gtgreentechnologies.com/
For more articles about GT Green Technologies, click here.
