Dutch company Econowind has secured €1m from Invest International to advance and test its VentoFoil XL, a 24-30 meter high steel wind sail inspired by aviation technology. These sails are designed for large vessels to cut fuel consumption and CO2 emissions by up to 15%.
Zeewolde-based Econowind has produced smaller VentoFoils for coastal shipping. Econowind has already manufactured 10- and 16-meter VentoFoils for coastal vessels.
Now, with the XL model, company aims to expand into the deep-sea shipping market which includes 50,000 vessels worldwide. These ships spend extended periods at sea, consuming significant amounts of fuel.
The first of two XL prototypes is expected to be fully developed and tested within the next two years.
Designed and manufactured in Zeewolde, the VentoFoil XL will soon be deployed on ships around the world. Econowind is scaling up production at its facility in Zeewolde.
Frank Nieuwenhuis, Econowind CEO and Founder, highlighted the company’s expansion into the deep-sea sector: “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.”
“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,” he added.
Invest International has also provided export financing to support Econowind’s growth.
Invest International collaborated with Regional Development Companies (ROMs), specifically the Development Company for Northern Netherlands (NOM) and Horizon Flevoland, which provided an additional €2m in equity to Econowind.
