Dutch company Econowind, based in Zeewolde, has secured EUR1 million (USD1.05 million) in development capital from Invest International to advance and test its VentoFoil XL, a 24-30 m-high steel wind sail intended for the deepsea shipping market.
Econowind has been producing smaller VentoFoils, measuring 10-16 m in height, for coastal shipping for several years. With the introduction of the XL model, the company aims to expand into the deepsea segment. The first of two XL prototypes is expected to be fully developed and tested within the next two years. In addition to development capital, Invest International has also provided export financing to support Econowind’s growth.
The newly secured funding will support the design, development, and construction of two VentoFoil XL prototypes. While the project is set for completion in summer 2027, Econowind said that it is already engaged in discussions with potential customers.
Econowind ceo and founder, Frank Nieuwenhuis, highlighted the company’s expansion into the deepsea sector: “Having already delivered over 100 sails for smaller seagoing vessels, it is now time for the VentoFoil XL. This technology will improve fuel efficiency and cut CO2 emissions in deepsea shipping. The market demand is high, and the potential is enormous. Wind propulsion is bringing shipping back to its roots.”
For this financial transaction, Invest International collaborated with regional development companies, specifically the Development Company for Northern Netherlands (NOM) and Horizon Flevoland, which provided an additional EUR2 million (USD2.09 million) in equity to Econowind.
