A range of oil companies have banded together in investing USD 8.8 million in ensuring higher sales and propagation of rotor sails produced by Finnish company Norsepower, the latter informs in a statement.
The statement writes that the investment is made via OGCI Climate Investments, a fund created by oil firms with the purpose of making environmentally sound investments.
According to the company, this investment means Norsepower may increase its production by upscaling its facilities. This is necessary for the company to accommodate rising demand from the shipping sector.
This higher demand coincides with the upcoming sulfur regulations from the IMO, which is prompting shipping companies to search for initiatives that may compensate for the potentially costlier marine fuel. According to Norsepower, the interest in wind is moreover tied to the IMO’s climate targets for both 2030 and 2050.
Just over one year ago, Maersk Tankers embarked on its first voyage with one of Norsepower’s rotor sails on board, which is specifically shaped as two cylindrical sails. The sail’s pipes rotate and generate thrust by utilizing the aerodynamic Magnus effect, thus propelling the vessel. Afterwards, Maersk Tankers initiated a test phase, in which the method would be tested under different weather conditions with varying cargo volumes aboard.
English Edit: Jonas Sahl Jørgensen
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