French shipowner Compagnie Maritime Nantaise (MN) has taken a stake in Neoline, the company developing a sail-powered transatlantic cargoship.
MN will help Neoline finance two Neoliner ro-ro newbuildings at French shipbuilder SAS Neopolia Mobility for delivery from late 2021.
The first contract is expected to be signed soon.
NM will also assist the fledgling owner in setting up a pilot service. It has eight vessels, including ro-ros, and is part of the family-owned, Le Havre-based Sogestran group, which will also take a stake.
NM will bring ship management and operation expertise to the project.
Pascal Girardet, chairman of Sogestran and MN, said: “Sogestran group associates with Neoline to contribute to the emergence of a new economic and ecological model in maritime transport, which we are convinced is a promising one for the future."
Michel Pery, president of Neoline, added: "The support of this renowned family group will be a decisive asset for the rapid implementation of our innovative, environmentally exemplary and economically sound maritime service."
Neoline was founded in 2015 and already has backing from shippers Renault, Manitou and Beneteau.
The 136-metre vessels will run at 11 knots between Saint-Nazaire, the east coast of the US and the French islands of Saint-Pierre & Miquelon off Canada.
Neoline believes its ships have the potential to reduce CO2 emissions by up to 90% through the use of wind power primarily, combined with a cost-cutting speed and optimised energy mix, compared to a traditional cargoship on an equivalent route.
The proposed vessel is a ro-ro with 4,200 square meters of sail area.
Neoline wants to become the first shipowner to fully embrace energy efficiency by relying on wind power as its primary energy source, the company has said.
