Cooperation agreement between Wavefoil AS and I P Huse AS

Wavefoil and IP Huse have signed an agreement on the production of retractable bow foils. After a good process, Wavefoil and I P Huse have entered into a cooperation agreement where I P Huse will produce the largest Wavefoil products.

Retractable bow foils give reduced fuel consumption in waves, and in addition increased comfort. With the current focus on the environment and sustainability, this will be an important contributor to meet the requirements for less emissions in the maritime industry.

It has been important for Wavefoil to find a partner who knows the maritime industry and the requirements that are set. "I P Huse has the right expertise and facilities so that we can be sure that customers get a quality product that meets the requirements of the market," says Eirik Bøckmann, general manager of Wavefoil.

The first project in the new collaboration will be the production and installation of Wavefoil's first foil module of type WF5910, where Wavefoil has received support from the EU program EIC Accelerator for technology development, growth, and scaling. WF5910 is dimensioned for ships from 100 to 200 meters.

The collaboration also covers service and start-up of Wavefoil's products. "With I P Huse's expertise and good reputation as a quality supplier of products in the maritime industry, the collaboration will give our products a stamp of quality," says Pål-Ove Husøy, Sales Director at Wavefoil.

"We have had a good collaboration from day one, and we are very happy to have reached an agreement. We look forward to contributing to the production of Wavefoil's products,” says Håkon Heieraas, COO of I P Huse.

Wavefoil AS is a Norwegian company, founded in 2016, which offers retractable bow foils (underwater wings) for ships. The foils typically save 5-15% fuel and improve comfort on board. The benefits of bow foils have long been known, but Wavefoil is the first company to have developed a commercial and patented solution where the foils can be pulled into the ship's hull, which is crucial for this type of foils to be a commercial success.

I P Huse AS is the world leader in the design and production of winches for anchor handling vessels, with a history dating back to 1903. The company also supplies winches and associated equipment for special vessels and floating installations. I P Huse manufactures and performs service for a number of products outside its own design. Typical areas are equipment for hydropower plants, subsea and handling solutions. With a 155 m long quay, most of the vessels I P Huse serves can have easy access to the company's premises.