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SkySails

Wind energy manufacturer

  • 5 min read
  • 4 chapters

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Business

SkySails Group GmbH is a successor company to SkySails GmbH, which was founded in 2001 by Stephan Wrage and Thomas Meyer in Hamburg.

The company, while technically successful at cutting shipping costs and carbon emissions, has faced economic difficulties. Head of business development Henning Kuehl has said:

There's a structural problem slowing down the process: ship owners (who have to make the investment) often don't pay for the fuel – that's the charterer's duty. The charterer on the other side doesn't charter the ship for long enough a period to make low-carbon technologies pay back.

The lack of carbon emissions regulations for shipping and low fuel prices have added to these difficulties.

In the weak economy of 2012, a time of low investment by shipping companies, the company laid off half of its 80 employees. On March 7, 2016, SkySails GmbH, as part of the SkySails Group, was forced to file for insolvency and was dissolved on April 5, 2016. Since then, SkySails Group GmbH, as the successor company, has continued business operations and has developed a further business area in the form of the SkySails Power division.

The company's headquarters are in Hamburg. The assembly of ground stations of the airborne wind energy systems takes place in Lower-Saxony.

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