US-based SHARROW Marine, a leading manufacturer of propellers for boats and ships, announced today an exclusive worldwide licensing agreement with Australia-based VEEM Ltd, a designer and manufacturer of disruptive, high-technology marine propulsion and stabilisation systems.
Under the partnership, VEEM has secured the exclusive global rights to manufacture and commercialise the innovative SHARROW Propeller for inboard propellers up to five meters in diameter.
The companies will work together, with the aim of producing a series of SHARROW by VEEM propellers that are quieter and more fuel-efficient than any inboard propeller currently on the market.
Founder and CEO of SHARROW Engineering, Greg Sharrow, further explained the agreement.
“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.”
Chairman of VEEM Ltd, Brad Miocevich, said the agreement with SHARROW Engineering is further testament to VEEM’s commitment to pushing the boundaries of what’s possible in marine technology.
“We are thrilled to embark on this journey together to set a new standard for performance and sustainability. We believe this will be nothing less than transformative for the inboard market,” he said.
The new SHARROW by VEEM propeller series represents the beginning of what Sharrow and VEEM plan to achieve together, in partnership around the world. The SHARROW by VEEM range of propellers will become available to purchase through 2024.