The CO2 Challenge was put together to partner with start-ups and technology companies with systems capable of reducing a vessel’s CO2 emissions in line with international climate strategies and targets.
Since the initiative was launched in June, this year, it has received around 70 applicants from 20 different countries.
FUELSAVE co-founder and President, Marc Sima, said: “As shipping looks at solutions capable of cutting carbon emissions in half by 2050, the CO2 Challenge is the optimum platform from which to launch new technology. The initiative not only helps the industry discover new solutions capable of reducing shipping’s impact on the global environment, but it can provide start-ups with the help they need to get their innovations to market and scale up production.”
While the FUELSAVE application has yet to be assessed, the partners have set strict entry criteria to ensure that only companies with viable technologies capable of reducing a ship’s carbon footprint by 10% can apply.
Heino Eckerich, FUELSAVE technical director, said: “We officially launched FS Marine+ at the beginning of the year, following successful field and laboratory tests, specifically to address the emissions challenge the marine industry faces. Tests confirmed the technology’s ability to reduce fuel consumption, and consequently carbon emissions, from any marine diesel engine by 10% (net). The system also reduces NOx emissions between 30 - 80% and FSN/PM/BC by 30- 40% and cleans up the combustion process for visibly less soot and reduced engine wear & tear.”
The deadline for submissions closed on 17th September, 2018 and DNV GL, Cargill and Rainmaking are now reviewing the submissions and interviewing applicants.
Technical applications received include submissions for wind propulsion technologies, engine optimisation systems, digital solutions, and hull optimisation concepts, such as air lubrication.