- News article -

The latest success story: Using wind to save fuel in the global maritime industry. Finnish SME secures European funding

15 Sep 2016

Shipping companies are actively looking for solutions to reduce fuel consumption and environmental emissions of vessels, particularly due to the recent fuel price instability as well as the forthcoming environmental regulations. Spinverse customer Norsepower is ready to address this challenge utilising new technology, advanced materials and leading-edge control system.

Norsepower is a Finnish clean technology and engineering SME pioneering the generation of renewable wind energy for the global maritime industry. The company’s low-maintenance, software operated, auxiliary wind propulsion system helps vessels to reduce fuel costs by up to 30 % without lowering the operating speed. The patented turnkey solution requires no additional crew to operate it, and is suitable for retrofitting to over 20 000 vessels in the global merchant fleet.

The principle on which Norsepower built their innovation is knows as the Magnus effect – the commonly observed phenomenon in which a spinning cylinder or ball curves away from its principal flight path, similarly to the curved path of a golf ball.

The Norsepower solution has already demonstrated its performance in an operational environment. The next logical step for the company’s growth is to tap into the global maritime industry market. Securing the Horizon 2020 SME Instrument funding enables Norsepower to achieve the full speed.

Do you want to be the next success story? Contact us for more information

 

 

- News -

Relevant posts

EU funding Spinverse spinbase

Find funding and partners with Spinbase – instantly

25 Feb 2020

Finding funding opportunities and partners for your brilliant innovations and ideas is rarely a walk in the ...

SME Phase 2 EIC Accelerator

Complementary blended finance from EIC Accelerator Pilot for SME Instrument Phase 2 beneficiaries

24 Feb 2020

Is your SME company one of the beneficiaries for the SME Instrument Phase 2? Now known as EIC Accelerator, t...

exponential technologies Open Innovation

How to build new 100 M€ businesses - Unfolding Open Innovation with Patrick Halford

13 Feb 2020

"Ideas that transform markets and solve complex societal issues do not come fully formed or fully funded. Id...

experts Our People Spinverse News

Spinverse family just keeps on growing

6 Feb 2020

New year – new challenges! Mikael Sundholm, Germain Courtois, Amir Moslemi and Patrick Halford all started...

technology industries News innovation ecosystem

Spinverse explored internationally significant innovation and growth ecosystems in Finland ​

3 Feb 2020

For Finland to thrive, we need continuous growth in knowhow and Finland-based companies that have the abilit...

Client News digitalisation R&D

One billion euros of R&D funding for industries of the future

27 Jan 2020

Business Finland and companies involved in its digitalisation programs have joined forces to fund research a...