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Wavefoil logo — Wavefoil provides retractable bow foils that reduce fuel con...

Wavefoil

Wavefoil provides retractable bow foils that reduce fuel consumption and ship motions in waves

Founded 2016 Norway Norway 1 employees Grant Total: $2.11M Design, Manufacturing +1

General Information

Company Name Wavefoil
Founded Year 2016
Location Norway Norway
Founders / Decision Makers
Team member
Employees 1
Industries Design, Manufacturing, Sports
Funding Stage Grant
Social

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About Wavefoil

Wavefoil is a Norway-based startup founded in 2016, specializing in manufacturing retractable bow foils that effectively reduce fuel consumption and ship motions in waves. The company's innovative technology offers significant benefits, with fuel savings of 5-15% for suitable ships and a reduction in ship motions by 10-25%. The foils not only counteract the increased resistance and decreased propulsion efficiency experienced by vessels operating in waves but also generate thrust force through hydrodynamic principles, akin to a swimming whale. Notably, Wavefoil recently secured Venture Round investment from The European Innovation Council on 29th July 2020. This investment is a testament to the potential of Wavefoil's technology in revolutionizing the maritime industry. With its promising solution and backing from influential investors, Wavefoil is well-positioned to make a significant impact in the marine transportation sector.

Business keywords: marine technology, ship propulsion, fuel efficiency, hydrodynamics, naval engineering, retractable foils, wave motion, vessel resistance, thrust generation, hydrofoil, ship stability, energy savings

Funding Rounds & Investors (2)

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Funding Stage Amount Investors Lead Investors Date
Venture Round Undisclosed 1
European Innovation Council
European Innovation Council
29 Jul 2020
Grant €2.11M 1
European Innovation Council
European Innovation Council
29 Jul 2020

Wavefoil Alternatives & Competitors

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FAQ About Wavefoil

Wavefoil provides retractable bow foils that reduce fuel consumption and ship motions in waves
Wavefoil was founded in 2016.
Wavefoil is headquartered in Norway.
Wavefoil operates in Design, Manufacturing and Sports. Its work centres on marine technology, ship propulsion, fuel efficiency and hydrodynamics.
Wavefoil has approximately 1 employees.
Wavefoil has completed 2 funding rounds, raising a total of $2.11M. The latest funding stage is Grant.
Top alternatives and competitors to Wavefoil include Med Defense RHIBs, Azienda Chimica Genovese, ETA Green Power Ltd, Nuova Oleodinamica Bonvicini, Foil and Co. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Wavefoil and Med Defense RHIBs are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Wavefoil, https://bouncewatch.com/company/wavefoil, updated 28 October 2024. When citing, please name BounceWatch and link this page.

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