Dutch company Econowind, based in Zeewolde, has secured EUR 1 million in development capital from Invest International to advance and test its VentoFoil XL, a 24-30-metre high steel wind sail inspired by aviation technology. The investment allows the company to expand from coastal shipping into the deep-sea shipping market.
Similar to airplane wings, the new innovative VentoFoil XL sails are designed for large vessels, harnessing wind power to reduce fuel consumption and cut CO2 emissions by up to fifteen per cent.
In addition to development capital, Invest International has also provided export financing to support Econowind’s growth. The financing aligns with Invest International’s mission to decarbonise the maritime sector.
Also read: VIDEO: Econowind hits 100 VentoFoil sales
XL prototypes for deep-sea shipping
Econowind has been producing smaller (10- and 16-metre) 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. They will be designed and manufactured in Zeewolde. The larger sails will deliver greater fuel savings and further reduce environmental impact.
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Prototype development and 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.
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Well-positioned for global rollout
Michiel Slootweg, Director of Private Sector at Invest International: ‘Econowind is a perfect fit for our portfolio as an innovative Dutch scale-up driving the sustainability of shipping. 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’
‘With this investment, we can accelerate our focus on the deep-sea market,’ adds Econowind CEO & Founder, Frank Nieuwenhuis. ‘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 EUR 2 million in equity to Econowind.
Picture by Econowind.
