Veer Group Secures Financing for Wind-Powered Container Ships in Germany
Key Ideas
- Veer Group, a Canadian startup, secures financing for wind-powered container ships to be built in Germany.
- The company has signed a letter of intent with Fosen Shipyard to develop two wind-propelled and hydrogen-assisted container vessels.
- Veer Group's CEO, Danielle Southcott, expresses confidence in Fosen Shipyard as the best fit for the project.
Veer Group, a zero-emission shipping startup based in Canada, has announced its plans to build wind-propelled container ships in Germany. The company has secured initial financing and is in the process of another fundraising round. Veer Group has partnered with Fosen Shipyard to develop, construct, and sell two wind-powered container vessels with hydrogen assistance and a cargo capacity of 150 TEU.
After a year-long tender process, Veer Group's founder and CEO, Danielle Southcott, stated that the team is confident in Fosen Shipyard's capabilities and suitability for the project. This initiative aligns with the growing focus on eco-friendly shipping solutions and the integration of hydrogen technology in maritime transportation. The decision to incorporate wind and hydrogen power in the container ships demonstrates Veer Group's commitment to sustainable practices in the shipping industry. The project marks a significant step towards achieving zero-emission ocean crossings and promoting environmental responsibility in maritime trade.