GT Wings, a pioneer in wind propulsion technology for commercial shipping, has today announced the successful closing of over £1 million in new equity.
The total sum is comprised of ~£500k investment from Blackfinch Ventures, and an additional £500k from investment angels sourced by Sustainable Times and existing shareholder, OnePlanetCapital. Proceeds will be utilised to grow the GT Wings’ team, accelerate marketing efforts, and develop future iterations of the company’s flagship AirWingTM product.
This new equity round brings GT Wings’ total funding secured in 2024 to over £6 million across grant and equity sources, strengthening the company’s balance sheet and providing the capital to execute on the significant opportunity ahead in the high-growth wind propulsion market.
“We are very excited to welcome Blackfinch Ventures as an investor at this pivotal time,” said George Thompson, Founder and CEO of GT Wings.“This timely influx of funding allows us to accelerate the growth of our team and the scaling of our AirWing™ technology to meet the rapidly expanding demand for our wind propulsion solutions.”
In Q1 2025, GT Wings will install its first AirWing™20 unit on a Carisbrooke Shipping vessel operating in the North Atlantic. This single installation is projected to cut fuel consumption by up to 10%, achieving payback in less than four years while delivering a robust IRR and NPV for the shipowner.
Dr Reuben Wilcock, Head of Ventures at Blackfinch Group, commented: “GT Wings is at the forefront of an industry transformation, delivering tangible and scalable solutions for maritime decarbonization. We are proud to support the company in its journey to reshape the future of commercial shipping while addressing critical environmental challenges.”
