The Dutch company Econowind has so far mainly found customers for its Ventifoil technology for smaller and short-sea vessels. Now, sail components for larger ships are also to be developed. The government is providing fresh money for this.
The Zeewolde-based company has secured €1 million in “development capital” from Invest International to further develop and test its VentoFoil XL, a 24-30 m high steel wind sail.
The XL version of the Ventifoil is to be developed based on the aviation industry. Ships should be able to reduce fuel consumption and CO2 emissions by up to 15%.
Econowind has already been producing smaller, 10 and 16 m high VentoFoils for coastal shipping for several years, and various shipowners have already secured the systems. With the introduction of the XL model, the company intends to expand into the ocean-going shipping market.
Econowind is already in talks with potential customer
“The first of two XL prototypes is to be fully developed and tested within the next two years,” it said. In addition to development capital, Invest International has also provided export financing to support Econowind’s growth. Invest International is an investor and financing partner on behalf of the Dutch government, complementing traditional financial market operations. The government organization supports Dutch companies in their international expansion, focusing on projects that increase the Netherlands’ earning power and create jobs in emerging markets.
As larger ships are at sea for longer periods of time and consume “significant amounts of fuel”, greater fuel savings can be achieved in the market with the larger sails, according to the Dutch.
The newly secured funding will support the design, development and construction of two VentoFoil XL prototypes. These will undergo extensive testing on land and at sea to assess performance and safety, laying the groundwork for regulatory approval. While the project is scheduled for completion in summer 2027, Econowind says it is already in talks with potential customers.
Michiel Slootweg, Director of Private Sector at Invest International, emphasized the importance of investing in sustainable maritime technologies: “Econowind fits perfectly into our portfolio as an innovative Dutch company driving the sustainability of shipping. With key partners such as Damen Shipyards and customers that are among the ten largest shipping companies in the world, Econowind is well positioned for a global roll-out. These international opportunities are a key reason for our investment.”
