Sharrow and VEEM reach milestone in performance testing results for inboard vessel applications

The SHARROW by VEEM propeller © SHARROW / VEEM

Sharrow Marine, a subsidiary of Sharrow Engineering LLC, the industry leader in innovative marine propulsion technology, announced today a significant advancement in its partnership agreement with Australia-based VEEM Ltd (ASX: VEE), a designer and manufacturer of disruptive, high-technology marine propulsion and stabilization systems.

After months of collaborative design work and testing of SHARROW by VEEM prototype designs on VEEM's 64' Viking test vessel, the companies confirmed that there is sufficient evidence that the key benefits of the Sharrow Propeller over conventional propellers can be replicated for inboard vessel applications. Sharrow and VEEM have verified that the results of the rigorous testing, specifically — improved fuel efficiency, a significant reduction in vibration and noise, improved handling, and excellent reverse thrust — meet the contractual criteria for progression to the next phase in their partnership.

Both parties are now committed to, and working toward, the manufacture and sale of the SHARROW by VEEM range of propellers for inboard vessels, focusing initially on fulfilling pre-orders to ensure the bespoke designs are optimized for each vessel and then test the propellers upon installation to validate the comparative results. This data will be critical for expanding the wide range of applications for inboard vessels globally.

"Reaching this milestone with VEEM marks a pivotal moment in our partnership and underscores the effectiveness of Sharrow's revolutionary propeller designs. Our collaboration over the last six months has demonstrated the adaptability of our technology and its potential to redefine standards in this new market sector," said Greg Sharrow, Founder and CEO of Sharrow Engineering and Sharrow Marine. "Together, we're leveraging our collective expertise to deliver unparalleled performance and efficiency to customers worldwide."

"We are very pleased to have been able to sign off on the testing phase and now be moving forward with manufacturing and selling the new SHARROW by VEEM range of propellers. The rollout of these will initially be carefully managed to ensure we are getting all aspects of the design and manufacture right, which will ensure the ongoing optimization of the design database," said Mark Miocevich, VEEM Managing Director. "We expect the design and development process to continue to evolve, continually generating better propellers in shorter time frames which will lead to increased revenue and margins as the product is rolled out."

This rollout signifies a breakthrough in commercial marine propulsion and enables expanded defense opportunities in Australia and the US, particularly regarding reduced noise and vibration, and operational performance of military vessels. Additionally, both companies recognize the potential of this technology to contribute to global sustainability efforts. The SHARROW by VEEM propellers align with international initiatives aimed at reducing greenhouse gas emissions and marine noise pollution, promising a more sustainable future for marine transportation.

For further information about this announcement and to stay updated on SHARROW by VEEM please visit sharrowbyveem.com.