DSM Venturing, the corporate venturing unit of Royal DSM N.V., announces that it has made an investment in Germany-based SkySails GmbH & Co. KG (SkySails), the market and technology leader for automated towing kite systems for ships.
The investment is part of the current SkySails round of financing, which was with a total volume of € 15 million the highest CleanTech venturing investment in Germany in 2010. This financing round has now been successfully completed.
SkySails develops, produces and sells wind propulsion systems for the marine industry which are based upon large automated towing kites. Depending on the prevailing wind conditions, a ship’s average annual fuel costs and emissions can be reduced by 10 to 35 % by using the system. Under optimal wind conditions, fuel consumption can temporarily be cut by up to 50 %. The reduced fuel consumption leads to significantly reduced costs and lower emissions to safeguard the environment.
The venturing participation is a next step in the cooperation between the two companies. To date DSM Dyneema, SkySails and rope manufacturer Gleistein have been combining their expertise in a unique three party technology partnership which focuses on the development of a special high performance rope, which delivers the unique requirements for high strength, light weight and excellent durability for wind propulsion systems. DSM’s Dyneema®, the world’s strongest fiber(TM), is a key component in the SkySails Kite System.