What is Norsepower?
Norsepower specializes in advanced wind propulsion technology, most notably its innovative Norsepower Rotor Sails. These systems are engineered to enhance fuel efficiency and significantly reduce the environmental footprint of various maritime vessels, including tankers, bulk carriers, and passenger ships. Since its inception in 2012, Norsepower has successfully installed over 32 Rotor Sails across 18 ships, solidifying its status as a global leader in auxiliary wind propulsion. The company provides comprehensive performance simulation and global maintenance services, ensuring optimal integration and operation of its technology for its shipping industry clientele.
How much funding has Norsepower raised?
Norsepower has raised a total of $41.8M across 4 funding rounds:
Private Equity
$3.3M
Private Equity
$2.9M
Series C
$30.3M
Other Financing Round
$5.3M
Private Equity (2016): $3.3M, investors not publicly disclosed
Private Equity (2016): $2.9M led by European Commission and Tekes
Series C (2023): $30.3M supported by Mirova
Other Financing Round (2025): $5.3M, investors not publicly disclosed
Key Investors in Norsepower
Mirova
Mirova is an asset management company focused on sustainable finance, offering investment solutions that blend financial performance with environmental and social impact across various asset classes.
European Commission
The European Commission, representing the EU, champions values of inclusion, tolerance, justice, solidarity, and non-discrimination, fostering economic cooperation and conflict avoidance among member states.
Tekes
Tekes, now Business Finland, is a Finnish government agency that provides funding and expert services for innovation and technology development, supporting companies in growing globally.
What's next for Norsepower?
The recent major strategic investment signifies a critical juncture for Norsepower, likely enabling accelerated research and development, expansion of manufacturing capabilities, and broader market penetration. This capital infusion is expected to bolster the company's efforts to scale its operations and further solidify its position as a key player in the decarbonization of the shipping sector. The company's focus on innovative, sustainable technology aligns with increasing global regulatory pressures and industry demand for greener maritime solutions, suggesting a strong trajectory for future growth and adoption of its Rotor Sail technology.
See full Norsepower company page
