Vela, a French company specializing in wind-powered maritime transportation, has completed a funding round of €40m (US$43m) to build its first sailing cargo trimaran.
The round was led by Crédit Mutuel Impact, 11th Hour Racing and BPI, a French public investment bank. This financing will enable Vela to officially launch the building of its first vessel.
Trimaran for a fast transportation offering
The concept is powered by over 3,230ft2 of photovoltaic panels, two hydro-generators and a sailing propulsion design by MerConcept. The vessel is 220ft long, 200ft tall and 82ft wide. Its hull is made of aluminum and its mast is made of carbon. The trimaran has a UMS of >1500.
This vessel draws inspiration from air freight, which is why is has been nicknamed the L’avion des Mers, meaning The Sea Plane. Using technology transfers from offshore racing, the vessel will enable transatlantic crossings of less than 15 days (loading – crossing – unloading) 100% under sail. The trimaran’s holds will be maintained at a controlled temperature to meet the needs and constraints of the most demanding clients in fields such as pharmaceuticals.
After an international tender in which more than 30 shipyards participated, Vela, assisted by BRS Shipbrokers, selected the Australian shipyard Austal. Offshore racing team MerConcept will also advise the company on sailing systems. The vessel will be constructed by Austal Philippines in Balamban, Cebu, and is scheduled to be delivered in the second half of 2026.
To ensure ethical and fair labor practices during construction, a Vela representative will be on-site to monitor working conditions – supplementing the certifications already obtained by the shipyard. In addition, the French companies will carry out 30% of the construction, including rigging, sails and hydro-generators.
First express maritime line between France and the USA
Vela will be the first maritime line between France’s Atlantic coast and the East Coast of the USA, thee company says. The line will begin operations in the second half of 2026 and offer a connection for high-value-added goods from various sectors, including fashion, wines and spirits, custom and artisanal products, food, medical supplies and technology. Departure ports in Normandy and New Aquitaine also form part of Vela’s network. Additionally, at least four additional ships are in preparation for arrival by 2027-2028, which will enable increased departure frequency and reach a rhythm of one departure per week.
“This major fundraising marks a key step in Vela’s development. We are proud to have brought together such a high-quality panel of Franco-American partners who share our ambition to make transport more sustainable, underlining the importance of our transatlantic vision,” said Michael Fernandez-Ferri, managing director and chairman of Vela. “Together, we are entering a new era where capital serves the green revolution. This sailing cargo trimaran symbolizes our vision of a world combining innovation, sustainability and humanity. We warmly thank our financial partners for their trust and support.”
“Austal is excited to partner with Vela on this groundbreaking project. Our expertise in multihull design and aluminum shipbuilding, combined with Vela’s innovative vision, will create a revolutionary sailing cargo trimaran,” stated Paddy Gregg, CEO of Austal. “This vessel will set new speed, reliability and sustainability standards for transatlantic shipping. We’re proud to contribute to decarbonizing the maritime industry and look forward to transforming international cargo transportation for a greener future.”
Sabine Schimel, managing director at Crédit Mutuel Impact, commented, “The financing of the blue economy, and more specifically of the decarbonization of the maritime sector, is a major priority of the Environmental and Solidarity Revolution Fund. We are very proud to back the cofounders of Vela in building this first sailing cargo trimaran and contributing to the emergence of such a French technology field of excellence.”
Jeremy Pochman, CEO and co-founder of 11th Hour Racing, added, “At 11th Hour Racing, we are deeply committed to advancing sustainable solutions that transform industries and protect our ocean. This investment in Vela as an innovative, sail-based shipping technology perfectly aligns with our mission of reducing carbon emissions and improving efficiency in global supply chains. We are proud to be joining forces with a solid founding team led by world-class sailor François Gabart. We believe that our collaboration and innovation can pave the way together for a more sustainable future for both the maritime sector and our planet.”
Jean-Marie Fougeray, investment director at Bpifrance, concluded, “With the shipbuilding of the largest sailing cargo trimaran in the world, Vela addresses the major challenge of decarbonizing the maritime sector while offering an innovative, sustainable and high-quality transportation solution. We are very happy to hold Vela as our first investment for the maritime sector decarbonization fund. This project perfectly aligns with the ambitions of the Climate Plan of Bpifrance and with the thesis of this new fund: foster the decarbonization of maritime freight with complementary partners.”
In related news, Candela recently closed the largest funding round in its history with €24.5m (US$26.6m) to expand production of its P-12 ferry. Click here to read the full story.
