DSM Venturing, the corporate venturing unit of Netherlands-based industrial group Royal DSM, has made its 18th investment by backing Germany-based SkySails, which makes kites for ships and has just closed a €15m ($21m) round.
Started in 2001, SkySails’ lead investors are ship financing company Jan Luiken Oltmann Gruppe and marine engine supplier Zeppelin Power Systems. Besides private investors, the group of SkySails investors also includes shipping companies, such as Triton Seatrade, Reederei Wessels, Reederei Jüngerhans, Briese Schiffahrt and Reederei Opielok.
SkySails develops large automated towing kites using DSM materials that can cut a ship’s average annual fuel costs and emissions by 10% to 35%.
DSM Dyneema, a fibre maker, SkySails and rope manufacturer Gleistein have a three party technology partnership to develop a high performance rope.
Gerard de Reuver, president of DSM Dyneema, said: "With the development of its advanced kite based system, the company [SkySails] succeeded in establishing itself as a leader in the commercialization of wind propulsion solutions. The increased cooperation between our companies will lead to the development of a range of sustainable innovations around SkySails’ core technology for various markets.’
Last week, DSM Venturing backed Xolve, a US-based start-up nanomaterials company formerly known as Graphene Solutions.