DSM Invests In SkySails

DSM’s venture capital arm has made an investment in the Hamburg, Germany-based start-up SkySails, which has been developing large, automated towing kites for ships. The companies say that depending on the speed and direction of the wind, the sails can reduce vessel fuel costs by 10 to 35%. Terms of the deal haven’t been disclosed, but DSM’s investment was part of a $21 million round of financing. DSM Dyneema, which makes ultra-high-molecular-weight polyethylene fibers, has been working with SkySails and rope-maker Gleistein to make a high-performance rope for the application.