Veer’s solution is a wind-powered containership
with auxiliary fuel cell propulsion that utilizes green hydrogen as fuel and
DynaRig sails. The company’s
breakthrough first ship design, ‘Design Nº1’, will be the first absolute
zero-emission containership capable of crossing an ocean.
As informed, the
company has secured €50 million Letter of Intent (LOI) to finance the design
and construction of these ships and has received bids from five capable
European shipyards.
Veer plans to award construction to a shipyard in
the coming weeks and enter into an LOI with the winning shipyard.
‘Design Nº1’ has been
selected by the European Maritime Safety Agency (EMSA) as an exemplary vessel
used in two industry studies, one on wind propulsion and one on hydrogen propulsion.
At this time, Veer is
announcing the launch of a Series A investment round and welcomes investors
seeking to meaningfully contribute to the transformation of shipping.
Veer’s first fossil-free solution is a series of
100-meter containerships powered by hydrogen fuel cells combined with wind for
increased speed and range. Veer intends to provide a fast and clean container shipping service to
a market struggling with the notoriously hard-to-abate shipping sector. In
October 2022, the Freeport-based company received Approval in Principle (AiP)
from the classification society American Bureau of Shipping (ABS) for its
zero-emission ship project.