Investment and first commercial rotor sail order for Norsepower - fuel savings verified by NAPA
First commercial rotor sail order for Norsepower - fuel savings verified by NAPA
Norsepower has received an investment of EUR 3 million from a syndicate led by venture capital fund Power Fund III, a cleantech venture fund managed by VNT Management. Adding to the investment, Norsepower has installed a second rotor sail on Bore’s Ro-Ro vessel MS Estraden, which is the first commercial order for Norsepower.
Data analysis and verification by NAPA, the leading maritime data analysis, software and services provider, has been fundamental to these developments by proving the effectiveness of Norsepower’s technology.
"It is great to see Norsepower, Bore and NAPA collaborating to pilot this technology and conduct rigorous data analysis. These first movers are key to demonstrating that efficiency technologies such as wind have proven savings, which can unlock new sources of investment for Flettner rotors and other technologies that can deliver significant efficiency gains," says Victoria Stulgis, Senior Associate at Carbon War Room.
A Norsepower Rotor Sail was installed on the Bore 9,700 DWT Ro-Ro carrier in early 2015. Although the weather conditions were largely calm over the three-month trial, data analysis from vessel performance monitoring and verification software demonstrated that the rotor sail delivered clear and significant savings of 2.5%.
"Since delivering our first proven application with Bore last year, our business has grown from strength to strength. With this significant investment from VNT and our first commercial installation, we have now cemented our position as leaders in the growing wind technology market," says Tuomas Riski, CEO of Norsepower.
Based on this evidence, Bore has ordered a second installation; the first commercial order for a Flettner rotor in shipping. Doubling the rotor sails has now proven to double fuel savings, with NAPA recording a 6.1% reduction in fuel consumption, avoiding 1,200 tons of CO2 emissions annually.
"The two-sail installation is delivering the largest fuel saving of any efficiency technology NAPA has measured," Jouni Salo, Product Manager for Shipping Solutions at NAPA, says.
The Norsepower Rotor Sail Solution is a modernised version of the Flettner rotor - a spinning cylinder that uses the Magnus effect to harness wind power to propel a ship. When the wind conditions are favorable, Norsepower Rotor Sails allow the main engines to be throttled back, saving fuel and reducing emissions, while providing the power needed to maintain speed and voyage time. Rotor sails can be used with new vessels or can be retrofitted on existing ships without off-hire costs.