Wavefoil
Wavefoil designs and manufactures retractable bow foils for commercial vessels, converting wave energy into propulsive thrust to deliver 5–15% fuel savings and reduced motions for operators of ferries, fishing vessels, wellboats, and expedition cruise ships.
- Company typePrivate
- Founded2017
- HeadquartersÅlesund, Norway
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What Wavefoil does
Wavefoil Technologies AS is a Norwegian maritime technology company founded in 2017 (originally as Wavefoil AS) by Eirik Bøckmann, based on his PhD and postdoctoral research at the Norwegian University of Science and Technology (NTNU) on bow foil hydrodynamics. The company designs and manufactures retractable bow foils — underwater wing structures mounted on a vessel's bow that convert wave energy directly into propulsive thrust while reducing hull motions (heave and pitch). Its proprietary retraction mechanism allows foils to be stowed inside the hull for port operations and heavy weather, addressing the key barrier that has historically prevented commercial adoption of fixed bow foils.
The company sells a portfolio of four foil modules (WF1050, WF2640, WF3970, WF5910) covering vessels from roughly 20m to 139m, including ferries, fishing vessels, wellboats, expedition cruise vessels, high-speed passenger catamarans, workboats, and ambulance vessels. Technology has been validated through model tests, DNV CFD assessments, and full-scale testing on the Ro Spirit wellboat, which demonstrated a 10% reduction in propulsive power under representative conditions, with claimed fuel savings of 5–15% depending on vessel type, speed, foil size, and sea state. Revenue is generated through direct hardware sales of foil modules to vessel owners and through shipyard channel partnerships for newbuild and retrofit installations. Since 2023, the company has been a subsidiary of the Eitzen Group, a privately owned Norwegian maritime and industrial conglomerate, and operates offices in Oslo and Ålesund with a team of 1–10 employees.
Wavefoil firmographics
Firmographics- Name
- Wavefoil
- Legal name
- Wavefoil Technologies AS
- Website
- https://wavefoil.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Wavefoil designs and manufactures retractable bow foils for commercial vessels, converting wave energy into propulsive thrust to deliver 5–15% fuel savings and reduced motions for operators of ferries, fishing vessels, wellboats, and expedition cruise ships.
- Ownership category
- akta.pro rank
Wavefoil industry classification
Industry- Product category
- Marine Propulsion Technology
- NAICS
- Ship Building and Repairing (336611)
- SIC
- Engines & Turbines (3510)
- akta.pro primary industry
- Bow & Stern Thrusters (Tunnel/Retractable) (IMAJAHAG)
Keywords
Where Wavefoil is headquartered
LocationHeadquarters
- HQ city
- Ålesund
- HQ country
- Norway
- HQ region
- Europe
Offices2 records
Markets served
Wavefoil business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Operations, Supply Chain, Personnel, Marketing or Sales
Revenue model
- Foil Module Sales: Sale of retractable bow foil modules to shipowners and shipyards for both newbuild vessels and retrofit installation on existing ships. Modules are available in multiple sizes (WF1050, WF2640, WF3970, WF5910) to suit different vessel types and sizes from 20m to 139m.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels7 records
Wavefoil product offering
Product offeringCore offering
Wavefoil develops, manufactures, and sells retractable bow foil modules for commercial vessels ranging from approximately 20m to 139m. The foils are underwater wings installed at the bow that convert wave energy into propulsive thrust, delivering 5-15% fuel savings, reduced vessel motions, and improved comfort. Modules are sold in four sizes (WF1050, WF2640, WF3970, WF5910) for both newbuild and retrofit installation through direct sales to vessel owners and via shipyard partnerships.
Product overview
Wavefoil offers a portfolio of retractable bow foil modules (WF1050, WF2640, WF3970, WF5910) that convert wave energy directly into propulsive thrust. The modules use a smart retraction mechanism and lightweight composite materials to provide fuel savings of 5-15%, reduced vessel motions, increased comfort, and lower CO2 emissions. Different foil module sizes are designed for specific vessel types: WF1050 for smaller vessels (up to 36m), WF2640 for fishing vessels, WF3970 for larger vessels like wellboats (70-80m), and WF5910 for large live fish carriers and explorer yachts. All modules can be installed on both newbuild and existing vessels.
Differentiator
Problem solved
Functional benefit
Products and services
- WF1050 Foil Module Retractable bow foil module designed for smaller vessels including crew transfer vessels, high-speed passenger catamarans, and ambulance vessels, offering fuel savings and motion reduction.
- WF2640 Foil Module Retractable bow foil module designed for fishing vessels and longliners, providing fuel savings and reduced motions in wave conditions.
- WF5910 Foil Module Retractable bow foil module designed for large explorer yachts and live fish carriers, featuring a wingspan of approximately 6 metres for improved fuel efficiency and motion reduction.
- WF3970 Foil Module Retractable bow foil module with wingspan exceeding 8 metres, designed for larger vessels such as wellboats and expedition vessels to reduce resistance in waves, improve vessel motions, and lower total energy consumption.
Quantifiable outcome
- 10% reduction in propulsive power
- +2 more outcomes
Companies that use Wavefoil
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles2 records
Wavefoil technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Wavefoil partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Larsnes Mek VerkstedcoreShipyard constructing Rostein wellboats with Wavefoil WF3970 foil modules. Sister vessel to Ro Spirit being built at this yard.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Wavefoil competitors and assessment
Company assessmentBroad incumbents
- ABB Marine & Ports: Global supplier of electric propulsion, automation, and energy efficiency systems for ships. Comparable as a large incumbent offering overlapping vessel-efficiency solutions, including electric and hybrid propulsion, that shipowners may choose alongside or instead of Wavefoil.
- Cavotec: Supplier of marine connection systems, shore power, and vessel interface equipment. Comparable as an established marine equipment vendor serving shipyards and commercial operators on efficiency and emissions-related hardware.
- Brunvoll: Norwegian manufacturer of marine propulsion and manoeuvring thrusters for commercial vessels. Comparable as a Norwegian-headquartered marine propulsion supplier serving the same shipyard and shipowner ecosystem, though focused on thrusters rather than wave-energy foils.
- Kongsberg Maritime: Major Norwegian marine technology supplier of propulsion, automation, and vessel systems. Already identified as a Wavefoil partner for fishing vessel applications and a natural incumbent that could expand into or absorb wave-foil technology.
- Wärtsilä: Finnish marine technology leader providing engines, propulsion, and decarbonization solutions including efficiency services and fuel-flex systems. Comparable as a broad incumbent addressing the same shipowner demand for fuel and emissions reduction.
Direct peers
- Becker Marine Systems: Hamburg-based marine technology company offering energy-saving devices including the Becker Twisted Fin and COBRA maneuverable bow rudder. Comparable as a supplier of hydrodynamic efficiency and propulsion-assist hardware to commercial shipyards.
- Silverstream Technologies: UK-based developer of air lubrication systems that reduce hull friction and fuel consumption on ships. Highly comparable as a ship-efficiency retrofit technology sold into the same vessel owner and shipyard customer base as Wavefoil.
- Boundary Layer Technologies: Startup developing air lubrication systems for commercial vessels to cut fuel consumption. Directly comparable as a smaller-scale ship-efficiency hardware startup addressing the same decarbonization-driven retrofit market as Wavefoil.
Others
- Haskoning: Global engineering consultancy with a maritime division supporting ship design, efficiency retrofits, and regulatory compliance. Comparable as an adjacent maritime services provider that interacts with the same shipowner customers evaluating efficiency upgrades.
Emerging players
- Candela Technology: Swedish builder of electric hydrofoil boats and foiling passenger ferries. Comparable as a foil-based marine propulsion company, though focused on smaller electric recreational and commuter craft rather than retrofits on conventional commercial hulls.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Wavefoil social profiles
Digital presenceWavefoil financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wavefoil leadership team
Management profileNumber of profiles
Profiles4 records
Wavefoil funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wavefoil M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wavefoil
What does Wavefoil do?
Wavefoil develops, manufactures, and sells retractable bow foil modules for commercial vessels ranging from approximately 20m to 139m. The foils are underwater wings installed at the bow that convert wave energy into propulsive thrust, delivering 5-15% fuel savings, reduced vessel motions, and improved comfort. Modules are sold in four sizes (WF1050, WF2640, WF3970, WF5910) for both newbuild and retrofit installation through direct sales to vessel owners and via shipyard partnerships.
Is Wavefoil a public or private company?
Wavefoil is a private company. It is classified as corporate owned and is currently operating.
When was Wavefoil founded?
Wavefoil was founded in 2017. It employs 1 to 10 people.
Where is Wavefoil based?
Wavefoil is headquartered in Ålesund, Norway, in the Europe region.
How does Wavefoil make money?
One revenue line is on record: foil Module Sales.
Who are Wavefoil's main competitors?
Broad incumbents on record are ABB Marine & Ports, Cavotec, Brunvoll, Kongsberg Maritime and Wärtsilä. Direct peers are Becker Marine Systems, Silverstream Technologies and Boundary Layer Technologies. Haskoning is listed as an others. Candela Technology is listed as an emerging player.
Does Wavefoil have an API?
No public API is recorded for Wavefoil.
What industry is Wavefoil in?
Wavefoil's product category is Marine Propulsion Technology. Its primary akta.pro industry code is IMAJAHAG, Bow & Stern Thrusters (Tunnel/Retractable). Its NAICS code is 336611 and its SIC code is 3510.