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Team for the Planet reinvests €4.5 million in Beyond the Sea!

Published on 8 February 2024

🌍Team for the Planet reinvests €4.5M in Beyond the Sea
👉Innovating for the planet requires support!

At Beyond the Sea, we can count on the citizen fund Team for the Planet, which has been by our side for two years now, to provide us with the means to tackle the challenge of reducing greenhouse gas emissions from maritime transport.

👉In December 2023, at their latest AGM, Team for the Planet shareholders voted (with a record score of 99.92% in favor) to reinvest €4.5 million in our company through a new fundraising round, allowing us to continue to scale up our automated kite propulsion system for ships, the #SeaKite.🚢

👉Following an initial investment of €1 million in December 2021, Team for the Planet has decided to reinvest €4.5 million following successful tests of 25m² and 50m² kite automatic dynamic flight on board our laboratory ship, the SeaKite. These funds are intended to develop a more powerful KiteBox #SeaKite and new kites of 100, 200, and 400m² sizes, capable of towing increasingly larger vessels.

🙏The citizen movement Team for the Planet has reinvested significantly in our company not only due to these significant technical advancements but also because of our commercial progress.
👉Two French shipowners have already chosen to equip themselves with the #SeaKite system, which will be installed on their ships in the coming months.

Denis GALHA GARCIA – Co-founder of Team for the Planet testifies:
🗣️ “Team for the Planet was conceived to enable everyone to act on systemic carbon emissions to combat climate change. Beyond the Sea, by developing a range of traction kites capable of propelling vessels of all sizes, will have a major impact on reducing emissions from the maritime sector. Given the progress made since our partnership and the decarbonization potential of the solution, we reaffirm our support for the Beyond the Sea team and are proud to contribute further to this entrepreneurial adventure.”

Yves PARLIER – President and founder of Beyond the Sea testifies:
🗣️ “Since Team for the Planet became a shareholder of Beyond the Sea, we have been able to structure the company with a dynamic, competent, and highly motivated team. Beyond financial means, Team brings us an immense and deeply committed network. This valuable network, which shares our values, helps us attract top talent, benefit from cutting-edge technical expertise, approach prospects, and communicate better. The management team of Team also helps us build an ambitious strategy to address the challenges of tomorrow.”