Econowind reports that it has secured €1 million in development capital from Invest International to support further development of its steel wind sail system for the deep-sea shipping market.
The VentoFoil XL is a 24-30 metre steel wind sail inspired by aviation technology, with the sails functioning similar to aircraft wings to provide additional propulsion for large vessels and consequently reduce fuel consumption.
The Dutch company has been producing smaller 10- and 16-metre VentoFoils for coastal shipping for several years. The introduction of the XL model marks a move into the deep-sea market, with the first of two XL prototypes expected to be developed and tested within the next two years, supported by both development capital and export financing from Invest International.
“With this investment, we can accelerate our focus on the deep-sea market. Having already delivered over 100 sails for smaller seagoing vessels, it is now time for the VentoFoil XL,” said Econowind CEO Frank Nieuwenhuis.
“This technology will improve fuel efficiency and cut CO2 emissions in deep-sea shipping. The market demand is high, and the potential is enormous. Wind propulsion is bringing shipping back to its roots.”
