French asset manager Mirova, an affiliate of Natixis Investment Management dedicated to sustainable investment, led the fundraising through its impact private equity Mirova Environment Acceleration Capital fund. Additional participants in the round included TheFinnish Climate Fund (Ilmastorahasto), OGCI Climate Investments, Nefco – The Nordic Green Bank, Tesi, and Power Fund III. With a focus on impact, these organisations have joined forces to enable Norsepower to scale up production and expand the reach of its fuel-saving and emissions-reducing technology.

The Norsepower Rotor Sail™? is a modernised version of the Flettner rotor. The Norsepower Rotor Sail™? uses a minimal amount of the ship’s electric power to rotate cylinder-shaped rotors on the ship’s deck. Rotation together with wind generates powerful thrust – saving fuel and reducing emissions. The product has already been used by customers for over eight years and has 250,000 operating hours of verified performance data acquired. This performance data includes installations in collaboration with customers including Bore, Sea-Cargo, Scandlines, Vale, CLdN, Nippon Marine, and Socatra who have selected Norsepower Rotor Sails™? for improving fuel efficiency and reducing the emissions of their shipping operations.

The data – which shows fuel consumption savings 5-25%, or even more - has been measured and analysed independently by Lloyd’s Register, as well as ABB, NAPA, Chalmers University of Technology and VTT.