Econowind receives investment to harness the wind for deep-sea shipping
Dutch company 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.
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.
To meet growing demand, Econowind is scaling up production at its facility in Zeewolde. The expanded space and optimized processes allow for higher output and shorter lead times, ensuring more shipowners can benefit from VentoFoil technology. This strategic move positions Econowind to ramp up manufacturing as the industry accelerates its shift toward low-carbon shipping solutions.
Michiel Slootweg, Director of Private Sector at Invest International, emphasized the importance of investing in sustainable maritime technology: “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.”
Econowind CEO & Founder, Frank Nieuwenhuis, highlighted the company’s expansion into the deep-sea sector: “With this investment, we can accelerate our focus on the deep-sea market. 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.
