VELA, a French startup launched in November 2022, has successfully raised €40 million ($43 million) to partner with Austal in building the world’s largest sailing cargo trimaran. This innovative project aims to provide a sustainable cargo service across the Atlantic for a range of products, including pharmaceuticals, industrial parts, healthcare equipment, and cosmetics. The funding round was led by Credit Mutuel Impact, 11th Hour Racing, and BPI - French Public Investment Bank, all of whom share VELA's vision for greener transportation. The trimaran is expected to offer a faster alternative for businesses looking to minimize transit times, with a projected crossing time of under 15 days, compared to at least 20 days for traditional large containerships. The vessel will be 220 feet long, with a height of 200 feet and a width of 82 feet, featuring an aluminium hull and carbon masts. It will also include over 3,230 square feet of solar panels and two hydro-generators, with the capacity to carry the equivalent of 51 shipping containers while maintaining controlled temperatures for high-value goods. After an extensive selection process involving over thirty shipyards, VELA chose Austal for its expertise in multihull and aluminium construction. The first trimaran will be built at Austal's facility in the Philippines, with a scheduled delivery in the second half of 2026. Additionally, French companies will handle 30% of the construction, supporting the national sailing industry. Austal's CEO, Paddy Gregg, expressed excitement about the collaboration, emphasizing that this project will set new standards for speed, reliability, and sustainability in transatlantic shipping. With the new funding, VELA plans to officially launch the vessel's construction and expand its sales and operations teams in both France and the U.S. The company intends to operate between the French Atlantic coast and the U.S. East Coast, aiming to start services in late 2026, with plans for at least four more vessels by 2027-2028 to increase departure frequency to once a week.