PanEuro
Merchant banking & project financeLondon · Singapore

PROJECT DYNAMIC

Strategic equity investment  /  First commercial maritime deployment

Wind-assisted propulsion designed to cut fuel cost and lift vessel economics, with an industrial pathway to commercial deployment.

October 2026
Approved Windship bulk carrier with nine rigid aerofoil wingsView full animation ↗
Illustrative concept · three Windship rigs on an 82,000 DWT Panamax bulk carrier
Illustrative economics · 82,000 DWT Panamax · three rigs
US$1.78mfuel cost saved a year
2,032 tless fuel a year, about 6,300 t of CO2
36%of propulsion power from three rigs
6.4 yearsgross payback on a US$11.4m system

Management model, 20 October 2026, on the IMO global wind probability matrix, allowing for the rigs shading one another. Not yet verified by sea trials.

The opportunity

Windship Technology and ShapeShift Technologies invite strategic equity investors and maritime partners to join the first commercial deployment of Windship's patented triple-wing rigid composite aerofoil: a working vessel, installation, independent sea trials, then Type Approval.

Equity, vessel participation and access terms are negotiated separately. PanEuro, the London and Singapore merchant bank, is coordinating investors, structuring and diligence.

The technology

Official rendering of one Windship rig: three wings with orange trailing flaps on one pedestal.
One rig, official rendering
  • Three rigid wings on one rotating spar
  • 35 m rig, about 150 t
  • Trims itself; lowers for port and heavy weather
  • DNV Approval in Principle, 2021
  • Built by ShapeShift in Batam

Shared value

ShipownerAn access fee of US$1.22m a year on top of hire. Fee-only payback of 9.3 years, and US$20.7m of fees over 17 years before costs.
OperatorAbout US$556,000 a year of fuel saving kept after the fee, with nothing to buy.
Own and operate the ship? You keep both.

Illustrative structure, not agreed.

Commercial deployment roadmap

1Secure investment and partners
2Select the vessel and complete design
3Install and run sea trials
4Type Approval and certification
5Fleet deployment and roll-out

Ready for the next step?

Each button opens an email that is already written. Press send. Full framework overleaf.

Send us the NDAArrange a meeting
PanEuro · Chief ExecutivePaul Brookpaul.brook@paneuro.co.uk Windship · Project DirectorRobert Kennedyrobert@windship.tech

Important: preliminary management estimates. No Windship rig has completed commercial sea trials or obtained Type Approval. DNV Approval in Principle is a design-stage milestone. Figures are modelled, route-dependent and subject to independent verification. This material is for preliminary discussion only. It is not a securities offer, investment advice or a guarantee of performance.

PanEuro
Merchant banking & project financeLondon · Singapore

PROJECT DYNAMIC

Commercial and investment framework
October 2026

Why it matters to each participant

Ship operators~US$556k a yearLower bunker spend, kept after the access fee. Depends on route, wind, fuel price and utilisation.
ShipownersUS$1.22m a yearContracted access income on top of hire. Life, charter-rate and residual-value upside to be verified.
Strategic investorsFirst moverEquity in the step from engineered design to a validated product, built at scale by ShapeShift.

First deployment: proposed milestones

  1. Identify a suitable vessel and agree the roles of owner, operator and technology partners.
  2. Complete vessel-specific design, class engagement, structural assessment, installation scope and procurement budget.
  3. Agree equity, equipment ownership, access-fee terms, governance and how operating risks are shared.
  4. Install and commission the first system, and measure real fuel savings in independent sea trials.
  5. Use the operating evidence to advance Type Approval and a repeatable deployment model.

Reading the numbers

MeasureReference caseBasis
Fuel saved2,032 t a yearThree 35 m rigs, 82,000 DWT at 12 knots, IMO global wind matrix
Fuel cost savedUS$1.78m a yearVLSFO at US$874 a tonne
System costUS$11.4mThree rigs at US$3.8m each; final installed cost set per vessel
Gross payback6.4 yearsSystem cost divided by gross fuel saving. Not the owner's payback or an investor IRR
Access feeUS$1.22m a yearIllustrative, not agreed
Owner payback, fees only9.3 yearsBefore financing, maintenance, tax and downtime
Operator net saving~US$556k a yearFuel saving less the access fee
Access fees, 17 yearsUS$20.7mNominal, before costs
3 extra trading yearsUS$5.5m hireAt US$5,000 a day. Hypothetical upside, not the base case

Key commercial and technical conditions

No investment terms are agreed.

Confidential process

Introductory discussionNDAData roomVessel suitability reviewIndicative termsDiligence and documents

Next steps: one click each

Every button opens an email that is already written and addressed. Add a name if you wish and press send.

Send us the NDAArrange a meetingPut forward a vessel
PanEuro · Chief ExecutivePaul Brookpaul.brook@paneuro.co.uk Windship · Project DirectorRobert Kennedyrobert@windship.tech

Important: preliminary management estimates. No Windship rig has completed commercial sea trials or obtained Type Approval. DNV Approval in Principle is a design-stage milestone. Figures are modelled, route-dependent and subject to independent verification. This material is for preliminary discussion only. It is not a securities offer, investment advice or a guarantee of performance.