VEEM Limited, known for its advanced marine propulsion and stabilisation systems, has achieved a notable milestone in its partnership with Sharrow Engineering, LLC, confirming the successful fulfilment of contractual requirements to progress to the next phase of their Technology Collaboration Agreement after thorough testing.
The collaboration between VEEM and Sharrow was initiated on 2 October 2023, aiming to design and produce a new range of innovative propellers, the SHARROW by VEEM.
Under this agreement, VEEM exclusively manufactures and distributes Sharrow-designed propellers worldwide for inboard-powered vessels, the company said in an ASX announcement.
Throughout the testing phase, numerous SHARROW by VEEM prototype designs were evaluated against standard propeller equivalents across various speeds and hull types.
VEEM and Sharrow confirmed the key benefits of the Sharrow propeller, including improved fuel efficiency, reduced vibration and noise, enhanced handling, and excellent reverse thrust, for inboard vessel applications.
Witnessed by Lloyds, a globally recognised independent marine classification body, the testing demonstrated substantial evidence of the aforementioned benefits.
Notably, the SHARROW by VEEM test propellers exhibited greater efficiency gains compared to the Neptunus vessel test in the U.S., albeit over a narrower operational range, instilling confidence in the potential of the SHARROW by VEEM range for inboard applications.
Moving forward, VEEM and Sharrow revealed it will continue collaborative efforts to optimise designs for pre-order customers, ensuring tailored solutions for diverse vessel types.
The data gathered from installations will inform further refinements, expanding the SHARROW by VEEM design library to address a wide range of inboard vessel applications globally.
The initial rollout of SHARROW by VEEM propellers is anticipated to commence in FY24, with expectations of increased sales and volumes throughout FY25.
Pricing for these propellers is expected to reflect their superior performance and will be refined during the rollout process.
VEEM currently possesses the capacity to produce early pre-order SHARROW by VEEM propellers without disrupting existing sales commitments.
However, plans for capacity expansion, including the potential addition of facilities in the US or Europe, will be considered based on the outcomes of the initial rollout.
