Smart Green Shipping Wins £5 Million Investment in Wing Sail Technology

by Ship & Bunker News Team
Thursday July 28, 2022

Maritime technology firm Smart Green Shipping has received £5 million of investment to develop wing sail technology.

The firm is set to launch a three-year research and development project for its FastRig technology, backed by £3.2 million of private sector investment and a £1.8 million grant from Scottish Enterprise, it said in an emailed statement on Thursday.

The firm plans to deliver a demonstration model on a commercial ship by next year, after carrying out initial tests at a land-based site at Peels Ports Hunterston Port and Resource Centre. The FastRig system can deliver at least 20% in fuel and emission savings, according to the company.

"Scotland's decision to support this project shows that wind technology has the might of a maritime nation behind it," Diane Gilpin, founder of Smart Green Shipping, said in the statement.

"Shipping has a long history of harnessing the power of wind, but digital technologies are allowing us to work towards making zero emission vessels a reality.

"Smart Green Shipping's FastRig wing sail technology offers a financially and technically robust solution to help support shipping's green transition."