Wind Tech: Econowind Secures €1 Million Investment
Dutch company Econowind, based in Zeewolde, has secured €1 million in development capital from Invest International to advance and test its VentoFoil XL, a 24-30 meter high steel wind sail inspired by aviation technology. Like airplane wings, these innovative sails are designed for large vessels, harnessing wind power to reduce fuel consumption and reduce CO2 emissions by up to 15%.Econowind has been producing smaller VentoFoils for coastal shipping for several years. With the introduction of the XL model…
USDOT Pumps $660M More Into Port Infrastructure
The U.S. Department of Transportation’s Maritime Administration (MARAD) announced a Notice of Funding Opportunity (NOFO) making available more than $662 million in Federal Fiscal Year (FY) 2023 funding for MARAD’s Port Infrastructure Development Program (PIDP).The PIDP investment is intended to help modernize the nation’s ports and strengthen supply chains.“America’s ports play a central role in our supply chains,” said U.S. Transportation Secretary Pete Buttigieg. “With today’s announcement…
