Taking you to the frontier: the popular funding scheme for SMEs revamped17 Jun 2019
European Commission shifts into high gear in its popular funding scheme for small and medium-sized enterpris...
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.
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