NAPA data analysis and fuel-saving verification leads to €3 million investment and first commercial order for a Flettner rotor
Helsinki, Finland – 29 January 2016 – Finnish engineering company, Norsepower today announced that it has received €3million in investment from a syndicate led by venture capital fund Power Fund III and has installed a second rotor sail on Bore’s Ro-Ro vessel MS Estraden. 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.
A single Norsepower Rotor Sail was installed on the 9,700 DWT Ro-Ro carrier in late 2014. Although the weather conditions were largely calm over the three-month trial, data analysis from vessel performance monitoring and verification software, ClassNK-NAPA GREEN, demonstrated that the rotor sail delivered clear and significant savings of 2.5%. 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; NAPA recorded a 6.1% reduction in fuel consumption, avoiding 1,200 tonnes of CO2 emissions annually.
Measurement, analytics and third-party verification has helped Norsepower evolve its rotor sail from an innovative system for trial, to a proven and marketable fuel efficiency technology with a clear business case. In addition to the expanded market potential, this evidence has also helped Norsepower increase its enterprise value and secure the future of the business. A syndicate led by Power Fund III, a Clean tech venture fund managed by VNT Management, has invested €3 million to support Norsepower’s growth and market expansion.
Tuomas Riski, CEO, Norsepower commented: “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. Objective data and impartial verification of the fuel savings delivered by the technology has been absolutely critical to this evolution and will remain central to the way in which we work with shipowners and operators.”
Jouni Salo, Product Manager, Shipping Solutions, NAPA commented: “Independent verification of Norsepower’s technology has required a significant and complex analysis process. The operating route of the vessel posed many challenges from differing wind conditions to varying sea depths, all of which impact fuel consumption and had to be accounted for with randomised trialling, robust data collection and advanced statistical modelling. The results, however, have made it all worthwhile. The two-sail installation is delivering the largest fuel saving of any efficiency technology NAPA has measured. We talk figures of Rotor Sails being effective 80% of sailing time, 460kW average propulsion boost and 1.5MW peaking for 10% of time. The fact that NAPA has not only proven this eco-efficiency technology, but also boosted Norsepower’s enterprise value through orders and investment really shows the power of big data when applied correctly.”
Victoria Stulgis, Senior Associate, Carbon War Room commented: “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.”
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 favourable, 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.
In its nearly 30 years of operation, NAPA has become a global leader in maritime software,services and data analysis for the maritime industry; providing best in class data-led solutions for safety, efficiency and productivity in both ship design and operations.
NAPA operates globally, with eleven offices across Asia, Europe and the Americas supported by its Helsinki headquarters. To date, NAPA has nearly 400 user organisations for its design solutions and 2,000 installations onboard vessels. For more information, visit www.napa.fi
Bore’s Ro-Ro vessel MS Estraden with two Norsepower Rotor Sails installed onboard.
True wind speed distribution over tested period
|31.10.2018||Cajo Technologies Oy voitti Kasvu Open 2018 kilpailun|
|31.10.2018||Cajo Technologies Oy is the winner of Growth Open (in Finnish: Kasvu Open) 2018 competition|
|08.02.2018||Wello to export Wave Energy Converters to China|
|08.02.2018||New clean energy system to make Finnish business district self-sufficient|
|18.01.2018||Swiss Smart Grid Solution Company DEPsys Raises Additional CHF 2 Million of Funding|
|09.11.2017||Convion SOFC generates zero emission electricity and heat from biogas in Italy|
|02.11.2017||Power Fund II investee Visedo sold|
|21.09.2017||Visedo CEO, Kimmo Rauma, Takes Electric Message to the World|
|30.05.2017||Maersk Tankers in wind power project|
|11.05.2017||DEPsys has been selected for global energy startup accelerator program Free Electrons|
|11.05.2017||Superb performance with renewable biogas|
|06.03.2017||Application test of innovative off-grid power supply|
|02.03.2017||Norsepower Rotor Sail Solution to be installed onboard Viking line cruise ferry vessel|
|19.12.2016||Visedo is ready to take a global lead in providing smart and high performance electric drivetrain systems|
|07.09.2016||WeSustain develops reporting software for the partnership for sustainable textiles|
|13.06.2016||Swiss Smart Grid Solution Company DEPsys Raises CHF 3 Million of Financing|
|22.03.2016||Finnish Laser Marking Machine Provider Cajo Technologies heads to US markets|
|29.01.2016||Performance monitoring and verification drives orders and investment for Norsepower|
|11.01.2016||Visedo joins forces with Dutch marine electric system expert Electric Power Conversion B.V.|
|03.11.2015||Sustainability Management 2.0“ – WeSustain receives top marks|
|30.10.2015||WeSustain becomes a SASB Enterprise Resource Platform (ERP) Partner|
|11.06.2015||Visedo’s electric drive trains to equip world’s largest electric ferryboat|
|14.01.2015||Merus Power wins its biggest contract ever|
|14.12.2014||Growth capital for WeSustain (Series B)|
|21.10.2014||Self-Sufficient and Emission-Free Energy to Go|
|21.10.2013||Fuel cell company Siqens receives funding from Finnish investor VNT Management Oy and German KfW Bank|
|11.10.2013||Mobilemarking Gets Nearly |
€1 Million in Funding for Internationalization
|10.09.2013||Wello’s Wave Energy Converter Producing Clean Energy|
|06.05.2013||GASEK Oy, CCM-Power Oy and Asmacon Oy to combine their business|
|31.01.2013||Final Closing of Power Fund III|
|16.01.2013||Valopaa Receives a Significant Capital Investment from VNT Management|