Nantes-based start-up Neoline has pushed out the launch of its first wind-powered cargo ro-ro by more than two years.
The French company said domestic shipyard Neopolia Mobility will still build the 136-metre Neoliner following a new international tender at the end of 2020.
Neoline had aimed to be the first company to operate a cargoship whose main propulsion was from the wind.
The plan was to have a vessel in operation across the Atlantic by late 2021 after the company signed a newbuilding deal with Neopolia for two vessels in July 2019.
Now building is planned to start this summer, with the first voyage in the first half of 2024.
Neoline went out to around 10 international shipyards in the second tender.
The company says the design will use between 80% and 90% less fuel compared to a conventional ship of the same size.
Neoline has not revealed a reason for redrawing its construction contract, but has been contacted for further information.
"Neopolia Mobility's offer emerged from our call for tenders as being the best able to reconcile our technical requirements, our budgetary and time constraints, as well as our desire to participate in the development of our region," said Jean Zanuttini, president of the Neoline Developpement unit.
"We are therefore very pleased to have been able to resume our negotiations with Neopolia and to sign a new letter of intent ... on a basis that is in line with our needs and capabilities."
Financing needed
The shipowner is now launching a final round of financing with the help of investor Sogestran, a French shipping company that took a stake in Neoline last year.
The Pays de la Loire region, where Neopolia is based, has also decided to award a €1.3 loan ($1.6m) to Neoline.
Neoline said financing remains a "challenge within the framework of an innovative project".
"However, our banking partners are very mobilised and sensitive to the commitments made by the pioneer shippers who are accompanying us," the company said.
Backers include shippers such as Renault, Manitou, Beneteau Group, Jas Hennessy & Co, Michelin Group and Clarins.
Other cargo owners are being lined up.
Alain Leroy, president of Neopolia, said: "Since responding to the first tender in 2018 and then signing the first LOI in July 2019, we have demonstrated our determination to win this contract."
"We have worked hard to ensure that our offer is both the best economically placed in Europe and the most technically advanced."
Leroy said the company had "deconstructed, thought about and rethought" the offer.
