Wind propulsion company BAR Technologies (BAR) has entered into a partnership agreement with Chinese giant CM Energy Tech to wholly manage and oversee the production of BAR Technologies’ WindWings in China.
BAR Technologies said that the Hong Kong-listed company would greatly enhance the company’s ability to manufacture enough WindWings to meet the growing demand, whilst delivering them at the right price.
The shipping industry is quickly adapting to new rules about emissions, and at the same time, realizing the money it can save by using additional wind power in ships. BAR Technologies noted that China has been selected as an efficient location for the production of WindWings amid the country’s ever-stronger role in the construction of large ships.
Data from Clarksons shows that China now contributes to over 50% of the total global shipbuilding output for the first time in history.
Under the terms of the agreement, CMET will manage the value chain of procurement, construction, of WindWings and their installation throughout all the shipyards in China. Additionally, CMET will also manage the servicing of WindWings during their operational life cycle, alongside running training on the operation of the wing sails for vessel crews. BAR Technologies will retain the obligation to continue to innovate and establish additional WindWings sizes and offerings.
BAR Technologies pointed out that its agreement with CMET supersedes its previous fixed-term partnership with Yara Marine Technologies, with the businesses parting ways after two years of collaboration to bring wind-assisted propulsion solutions to the maritime market.
“All at BAR Tech would like to warmly thank our colleagues at Yara Marine Technologies. Without our successful partnership we would not have brought this market-leading technology to market as quickly and as professionally – this has benefitted our joint clients and the industry,” John Cooper , Chief Executive Officer, BAR Technologies, said.
BAR Technologies is counting on the growing demand for the technology from Asian shipping firms, following their successful installation project with Singaporean vessel business, Berge Bulk.
“In looking at where we manufacture our WindWings®, we recognised we have to align our production with the leading nations in global shipping construction. Obviously, China Merchants Group has many shipyards in their wider group but this is about manufacturing for all the yards in the region and developing ever closer relationships,” Cooper said.
“Progressing shipping’s decarbonization journey requires taking the decisions now that will offer long-term opportunities to grow and scale WindWings® installations, as vessel owners increasingly specify new build vessels from the major yards with wind propulsion. Partnering with CMET will enable us to work with a highly reputable, long-standing organisation which will significantly enhance the manufacture and production of our WindWings® technology.”
As explained, the WindWings will carry CMET’s trade brand TSC as well and the BAR Tech WindWings logo.
“With shipping once again about to undergo transformational change, we recognized that there was a unique opportunity to work with BAR Technologies to support taking its pioneering WindWings® technology to the market,” Yunqiang Chen , Vice President, CM Energy Tech commented
“With our strong, long term existing relationships throughout the domestic manufacturing supply chain, we look forward to supporting BAR Technologies in new WindWings® installations across our customer base and the whole of the global shipping market. We are dedicated to the decarbonization of the energy sector and the WindWings® product epitomizes this commitment.”