EMEA News
Norsepower Boosts Funding for Rotor Sails
Finnish marine technology firm Norsepower has raised EUR 28 million ($30m) in capital to develop its rotor sails for large ships.
The fixed sails enlist wind power to aide ship propulsion and are an updated version of the Flettnor rotor.
"The new funding will help accelerate Norsepower's scale of production and help to meet increasing global demand," the company said.
"It will also strengthen Norsepower's product research & development, marketing, recruitment, and sizeable intellectual property portfolio," it added.
Norsepower estimates that there are around 30,000 vessels currently operating in the world that could benefit from its rotor technology.
There is an opportunity to reduce CO2 emissions across the global fleet by 80 megatons per year, the company said.
