Tuesday, June 18, 2024
HomeNewsSharrow Marine signs exclusive licensing agreement

Sharrow Marine signs exclusive licensing agreement

Propeller manufacturer Sharrow Marine has signed an exclusive worldwide licensing agreement with Australia-based Veem Ltd, designer and manufacturer of marine propulsion and stabilisation systems.

Under the partnership, Veem has also secured the exclusive global rights to manufacture and commercialise the Sharrow Propeller for inboard propellers up to 5m in diameter for a minimum of 17 years provided Veem meets minimum requirements for propeller sales over the first three years.

The companies will work together to produce a series of Sharrow by Veem propellers that have been designed to be quiet and fuel-efficient, with the project subject to results of testing that is currently taking place.

Superyacht and commercial vessels

The Sharrow by Veem propellers will initially be produced for superyacht and commercial vessels in the 30 – 90ft (10 – 30m) range.

“Bringing Sharrow Propellers to the inboard market has long been a strategic priority, and Veem is the perfect partner for us to do so quickly, at scale, and with uncompromised manufacturing quality,” said Greg Sharrow, founder and CEO of Sharrow Engineering who invented the Sharrow Propeller in 2012.

Greg Sharros, left, with Veem chairman Brad Miocevich
Greg Sharros, left, with Veem chairman Brad Miocevich

Brad Miocevich, Veem chairman, added: “The Sharrow by Veem propellers will provide a superior experience for larger yachts and commercial vessels, representing a true leap ahead of traditional marine propeller design.

“This agreement with Sharrow Engineering is further testament to Veem’s commitment to pushing the boundaries of what’s possible in marine technology.”

The Sharrow by Veem range of propellers will be available to buy in 2024. The propellers have been designed to reduce tip cavitation with significantly reduced or eliminated vortices. Sharrow Marine is a subsidiary of Sharrow Engineering LLC. The company carries out research and development in revolutionary, high-performance propulsor and flow control technologies and holds more than 100 wordwide patents.

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