Energy Transition

As the fastest growing energy source globally, renewable energy is projected to supply nearly half of the world's electricity by 2050.

Wind and solar capacity will overtake both gas and coal globally by 2024. In the U.S. renewable energy consumption has already surpassed coal.

The commercial shipping share of global greenhouse gas (GHG) emissions has reached about 3%. In the EU, the maritime sector represents about 13% of total GHG emissions caused by transportation in 2017.

As the cost of renewable energy continues to decline, existing technology enables us to facilitate the energy transition also into the maritime industry.

Use of renewable energy for commercial vessel propulsion will not only reduce direct GHG emissions but effectively also eliminate Scope-3 GHG emissions from production and transportation of conventional fossil fuels.

Making commercial shipping use renewable energy for propulsion will be key to making the global supply chain sustainable and will also help global corporations eliminate their Scope-3 emissions.

Unwavering demand from consumers, shippers and operators for solutions to reduce global supply chain GHG emissions is now mirrored not only by regulatory bodies, such as IMO, but also by the world political & economic leadership.