Veer has signed a Letter of Intent (LOI) with Fosen Shipyard to develop and construct two wind-powered and hydrogen-assisted container vessels.
Additionally, Veer has secured a €50M LOI from Prow Capital to finance the ships’ design and construction, and is currently raising funds through a Series A investment round. The team is motivated by the goal of transforming the commercial shipping industry with non-carbon-emitting vessels.
Veer is all about bringing non-carbon-emitting vessels to the commercial shipping industry in a viable business manner. Applying alternative means of propulsion and fuels coupled with optimized ship design for the intended service are what inspired me to work with Veer to collectively achieve this goal.
… said Scott McClure, Owner & Naval Architect, Alan C. McClure Associates.
Meanwhile, Veer’s CEO, Danielle Southcott, highlighted the thorough selection process, emphasizing Fosen’s capabilities and shared vision for clean shipping. For technical management, Veer has partnered with Bernhard Schulte Ship Management and is in discussions with multiple charterers to begin clean liner services in 2027.
According to the company, the vessel design, known as Design N°1, features a unique hull shape, DynaRig sails, and hydrogen fuel cells, making it “absolute zero emissions”.
