Aussie innovator VEEM can reduce a ship’s roll motion in big waves by 75pc
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Aussie marine techn developer VEEM has successfully demonstrated a stabiliser that reduces the roll motion of ships in big waves by up to 75 per cent.
VEEM — which was founded in Perth 50 years ago — makes “gyro stabilisers” that fit to the hull of a ship and reduces rolling motion in waves. That increases the ability of ships to operate in high seas and improves safety.
VEEM has just completed a trial of its latest technology in the Netherlands with Europe’s second biggest shipbuilder, Damen Shipyards Group, which builds 200 ships a year.
The 70-metre test vessel was able to reduce rolling motion by 35 to 40 per cent.
However the technology could reduce roll by up to 75 per cent in 2.5m waves, the group told investors.
It can also be switched off and on at the push of a button.
Here’s an earlier demo of the technology on a yacht:
“This enabled those witnessing the sea trial to appreciate the immediate positive effect VEEM Gyrostabilisers have on the vessel’s roll motion,” said Damen’s business development manager David Stibbe.
VEEM chairman Brad Miocevich anticipates the trial will lead to an order from Damen.
“We are very excited to receive Damen’s confirmation that they would now like to proceed to the purchase phase and confirm commercial requirements and delivery dates for us to supply VEEM’s largest gyrostabiliser, the VG1000SD,” Mr Miocevich said.
VEEM floated on the ASX in October 2016 after raising $5 million selling shares at 50c each.
The shares had drifted to a low of 38c in May, but have since recovered to 52.5c. They were up 4 per cent today.
“To have a shipbuilder of the calibre of Damen place orders for VEEM gyros heralds a new phase in our growth,” Mr Miocevich said.
“Gyrostablisers will become commonplace on new vessels in the marine industry once the advantages of the technology become widely known.
“Another great thing about VEEM gyros is they can be retro fitted easily into older vessels with minimal engineering.”