What is Smart Green Shipping?
Smart Green Shipping is at the forefront of revolutionizing the shipping sector through the development of technically viable, wind-powered solutions. Their flagship technology, FastRig wingsails, is designed to enable vessels to reduce their reliance on fossil fuels and consequently lower greenhouse gas emissions. The company's commitment to innovation is evidenced by past recognitions, including a grant from Innovate UK for a feasibility study on retrofitting their sails for biomass transport, and an award from the European Space Agency to develop digital tools for optimizing wind-use in shipping, a project known as TradeWind. These initiatives highlight Smart Green Shipping's dedication to creating commercially sound and environmentally beneficial technologies for a greener maritime future.
How much funding has Smart Green Shipping raised?
Smart Green Shipping has raised a total of $1.6M across 1 funding round:
Other Financing Round
$1.6M
Other Financing Round (2023): $1.6M with participation from Scottish Enterprise
Key Investors in Smart Green Shipping
Scottish Enterprise
Scottish Enterprise is a national economic development agency of the Scottish Government, focused on fostering business growth and innovation within Scotland. Their involvement suggests a strategic interest in supporting sustainable and technologically advanced enterprises.
What's next for Smart Green Shipping?
With the recent major strategic investment, Smart Green Shipping is poised to advance its mission of deploying FastRig sails on working vessels for final proof of concept. This infusion of capital is critical for scaling their operations and demonstrating the tangible benefits of their technology in real-world shipping scenarios. The company's selection as part of the "26 for COP26" Superpitch by Greenbackers Investment Capital and recognition by The Solar Impulse Foundation as an "efficient and profitable solution to protect the environment" further validate their market position and potential for significant growth. This funding will likely accelerate their path towards commercialization and broader adoption within the shipping industry, contributing to global decarbonization efforts.
See full Smart Green Shipping company page
