Aluula, Airseas enter binding supply purchase deal

Executive Summary

• Aluula Composites Inc. has entered into a binding supply purchase agreement with Oceanicwing SAS (trading as Airseas), effective January 1, 2026, to supply composite fabrics for the construction of Airseas' Seawing kite systems.
• The agreement secures a 12-month supply of materials, featuring fixed prices and minimum purchase volumes, to support Airseas' Phase 2 development and upcoming sea trials scheduled for 2026.
• This partnership supports the commercialization of the Seawing system, a wind-powered towing kite for cargo vessels designed to achieve approximately 20% fuel savings and significant emission reductions.

Key Details

• Parties Involved: Aluula Composites Inc. (Supplier) and Oceanicwing SAS (Airseas), owned by a major international shipping company (Buyer).
• Agreement Type: Binding supply purchase agreement.
• Effective Date: January 1, 2026.
• Duration: 12 months.
• Key Terms:
  • Fixed prices for Airseas.
  • Minimum material purchase volumes guaranteed.
  • Updated payment terms.
  • Improved coordination for ordering input materials and scheduling Aluula's production.
• Product Application: Composite fabrics for constructing the "Seawing" automated parafoil kite wings used to tow cargo ships.
• Technical Specifications & Progress:
  • Phase 1: Completed; 300-square-metre kite tested in June 2025.
  • Phase 2: Currently underway; kite size scaled to 600 square metres; first large kite constructed.
  • Performance Metrics: Dynamic flight speeds up to 150 km/h; estimated 20% fuel savings and associated emission reductions.
  • Upcoming Milestones: Land-based testing followed by sea trials with a large bulk carrier planned for 2026.
• Material Properties: Aluula’s patented materials utilize ultrahigh molecular weight fibres, described as eight times stronger than steel for equivalent weight, recycle-ready, and resistant to extreme UV exposure and saltwater conditions.

Notable Quotes

• "We are proud to be able to work with Airseas, united by a joint vision to accelerate sustainable innovation. By pioneering high performance, ultralight and recycle-ready composite fabrics, we are helping Airseas, and other companies, to establish new standards that will shape the future of the shipping industry towards decarbonization," said Sage Berryman, chief executive officer and president of Aluula.