Econowind: Fuel-saving sails can now also be leased

So-called ventifoils enable ship owners to reduce emissions, comply with international regulations and save considerable costs.

A new investment loan from ABN Amro now enables Atradius Dutch State Business (DSB) and its Econowind division to further develop these industrial sails and to finance both the sale and rental of the sails. This gives shipowners low-threshold access to this green technology. Econowind's aim is to equip as many ships as possible worldwide with this technology. At least the first ten ventifoils can be leased with this loan, a goal that should be easily achievable as early as next year.

Econowind

Econowind was founded in 2016 by entrepreneur Frank Nieuwenhuis in collaboration with design agency Conoship. The first ventifoils were ordered by Van Dam Shipping and shipping company Boomsma in 2020 after the test phase. Since then, Econowind has received several orders.

The Ventifoils are foldable industrial sails that can be easily installed on cargo ships in various ways; by means of a flatrack, as a complete container or stationary. When underway, these Ventifoils deliver fuel savings seventy per cent of the time. The fuel savings amount to six to eight per cent, depending on the ship, wind conditions and speed.

"All shipowners and shipbuilders need to invest in green technologies," says Nieuwenhuis. "In addition to stricter regulations that will tax CO2 from next year, there is an additional urgency due to high fuel prices. With Ventifoils, we want to make 'greening' accessible to shipowners without large investments. Thanks to my personal connection to the sailing world, I continue to believe in the potential of wind power on an industrial scale. We have invested a lot of time and money in our ventifoils in recent years and are delighted that this financial boost will now enable us to further develop this technology on a large scale."

Financially attractive investment

Ed van Aalst, ABN Amro Maritime, adds: "We do not yet know what fuel the ship of the future will run on, but it is clear that wind propulsion will always make a positive contribution. As a financier, we want to contribute to the transition to cleaner ships."

"It is innovative financial solutions like these that we need to drive the greening of the maritime industry," concludes Heleen Quint, Senior Export Credit Specialist, Atradius Dutch State Business.