Norsepower secures €28 million from investors to bring sails back to shipping

April 6, 2023

Norsepower Oy Ltd., provider of mechanical sails for large ships, has successfully secured 28 million euros in its latest Series C fundraising round.

French asset manager Mirova, an affiliate of Natixis Investment Management dedicated to sustainable investment, led the fundraising through its impact private equity Mirova Environment Acceleration Capital fund*.

Additional participants in the round included:

  • The Finnish Climate Fund (Ilmastorahasto)
  • OGCI Climate Investments
  • Nefco – The Nordic Green Bank
  • Tesi
  • Power Fund III.

With a focus on impact, these organisations have joined forces to enable Norsepower to scale up production and expand the reach of its fuel-saving and emissions-reducing technology.

Photo: Matthias Tasler/Scandlines