Case: Norsepower Oy’s financing round

Bringing sails back to shipping! Did you know that shipping accounts for approximately 3% of global carbon dioxide emissions? We acted as legal advisor to cleantech company Norsepower Oy in a financing round organized by Springvest Oyj, in which Norsepower raised over EUR 4.5 million.

Norsepower is helping the shipping industry solve its biggest problems: fuel costs, carbon emissions, and the challenges of emissions regulation. The company’s main product is the Norsepower Rotor Sail™, a cylindrical rotor sail that is installed on the deck of a ship. The sail is powered by an electric motor, and its rotation causes air to compress behind the sail, generating significant thrust. This reduces the power required from the main engine, which in turn reduces fuel consumption and emissions.

NORDIA acted as our legal advisor in the financing process, and the cooperation was smooth and well-managed. Their strong experience in similar processes was evident in the efficient execution of the project within a tight schedule

– Minna Ilveskoski, CFO, Norsepower Oy

NORDIA Law’s team included Timo Skurnik and Tuomas Pelkonen from the Helsinki office.

Read more about our services for mergers and acquisitions.