24SEP2019 - NEWS - OGCI Invests in Wind Power for Ships

OGCI Climate Investments has led an EUR 8 million investment round in Norsepower, along with current investors, to accelerate Norsepower’s growth on global markets.

The investment enables Norsepower to scale up production at its manufacturing facilities as part of a next phase of commercialization triggered by demand for its renewable wind energy propulsion systems, said a press release from Norsepower Oy Ltd., the provider of low maintenance, software operated, data verified auxiliary renewable wind energy propulsion systems.

The increased take-up comes at a time when the international shipping industry looks to offset expensive fuel costs - that are likely to increase following the IMO’s 2020 global sulphur cap - and prepare for IMO GHG emissions targets in 2030 and 2050.