Maritime startup Veer Group has taken a significant step in the development of its wind and hydrogen-powered container ship design with the selection of Fosen Stralsund Shipyard in Germany for the construction of the zero-emissions vessel.
The agreement will see the shipyard work on the development, construction, and sale of two vessels, which Veer hoped would be the first zero-emission container ships to cross an ocean when they launch in 2027.
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Veer CEO Danielle Southcott said: “After a thorough, year-long tender process, our team is confident that Fosen is the best fit. Fosen is a highly capable shipyard and it is inspiring to work with leadership who see the value and potential of Veer’s vision.”
The company’s vessel design is primarily powered by large DynaRig sails similar to a traditional sailing ship, with additional propulsion provided by hydrogen fuel cells for increased speed and range.
Veer is just one of many companies looking to wind for the future of sustainable maritime operations, with carriers already using wind propulsion solutions from Norsepower and VentoFoils to aid operations on their traditionally fuelled vessels.
However, the company’s ambitions go beyond current uses of similar wind technology with its Design 1 having been defined as “absolute zero emissions” by the International Maritime Organisation (IMO).
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By GlobalDataThe design has also received approval in principle from classification society the American Bureau of Shipping and financing of the initial construction will be provided by PROW Capital after the investment firm signed a €50m ($54.7m) letter of intent with Veer.
Fosen CEO Carsten Stellamanns said: “We are delighted and excited that Veer has chosen Fosen to build the first zero emission container carrier in Germany.
“Together with Veer we are looking forward to creating a game-changing concept and bringing it to the waters.”
Veer has agreed to partner with Bernhard Schulte Shipmanagement for technical management and is in discussions with FutureShips ship brokerage and individual charterers on the first services for the new vessels.
The company is also in the middle of a Series A investment round to raise further capital to support its plans.
