Econowind secures EUR 1 million to harness wind for deep-sea shipping

Dutch major Econowind has secured €1 million in development capital from Invest International to advance and test its VentoFoil XL, a 24-30 meter high steel wind sail inspired by aviation technology. Similar to airplane wings, these innovative sails are designed for large vessels, harnessing wind power to reduce fuel consumption and cut CO2 emissions by up to 15%.

Econowind has been producing smaller VentoFoils for coastal shipping for several years. With the introduction of the XL model, the company aims to expand into the deep-sea shipping market, strengthening its position as a global leader in sustainable maritime technology. The first of two XL prototypes is expected to be fully developed and tested within the next two years. In addition to development capital, Invest International has also provided export financing to support Econowind’s growth.

Proven Success & Market Potential

Econowind has already manufactured 10- and 16-meter VentoFoils for coastal vessels. Now, the larger 24-30 meter XL sails will enter the market, targeting deep-sea shipping, which includes 50,000 vessels worldwide. These ships spend extended periods at sea, consuming significant amounts of fuel. The larger sails will deliver greater fuel savings and further reduce environmental impact. Designed and manufactured in Zeewolde, the VentoFoil XL will soon be deployed on ships around the world, contributing to greener maritime transport.

Prototype Development & Testing

The newly secured funding will support the design, development, and construction of two VentoFoil XL prototypes. These will undergo extensive testing on both land and sea to evaluate performance and safety, forming the basis for regulatory approval. While the project is set for completion in summer 2027, Econowind is already engaged in discussions with potential customers.

Strategic Investment & Industry Collaboration

Michiel Slootweg, Director at Invest International, held, “With key partners like Damen Shipyards and customers among the world’s top ten shipping companies, Econowind is well-positioned for a global rollout. These international opportunities are a key reason for our investment. Development capital is often unavailable through traditional financing, but we can provide the necessary support to help bring this product to market.”

Econowind CEO & Founder, Frank Nieuwenhuis, highlighted “Having already delivered over 100 sails for smaller seagoing vessels, it is now time for the VentoFoil XL. This technology will improve fuel efficiency and cut CO2 emissions in deep-sea shipping. The market demand is high, and the potential is enormous. Wind propulsion is bringing shipping back to its roots.”

For this financial transaction, Invest International collaborated with Regional Development Companies (ROMs), specifically the Development Company for Northern Netherlands (NOM) and Horizon Flevoland, which provided an additional €2 million in equity to Econowind.

This financing aligns with Invest International’s mission to decarbonize the maritime sector. Currently, over 90% of global trade relies on shipping, which accounts for 2.5% of worldwide CO2 emissions. The development of wind-powered solutions like the VentoFoil XL represents a crucial step toward a more sustainable shipping industry.