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Helsinki-based maker of Rotor Sail wind propulsion systems for ships, aimed at improving fuel efficiency.
Founded in 2012 in Helsinki, Finland, Norsepower Oy Ltd develops wind propulsion solutions for maritime vessels. Its flagship Rotor Sail system uses the Magnus effect for auxiliary propulsion on vessels such as tankers and bulk carriers, and it has been installed on 18 vessels since its market introduction in 2014. The company raised EUR 28.00 mn in a Series C round in March 2023 led by Mirova, and CEO Tuomas Riski leads the company. In 2023 it reported revenue of EUR 2,176,768.70.
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