Moving Up The Waste Hierarchy

Our friends at Oceanswellenergy have recently received support from the good people at The Danish Maritime Fund for an extremely interesting project, see the announcement (in Danish) here: https://dendanskemaritimefond.dk/oceanswellenergy-udvikling-af-boelge-energi-catamaran-design-ved-brug-af-genbrugte-fartoejer/

Some 95% of the shipping industry's CO2 emissions come from the combustion of bunker fuels. There can therefore be no doubt that the way forward for massive decarbonisation of the shipping industry is by way of shifting to alternative fuels with much lower or no emissions. However, this transition needs to be accomplished at ultra-large scale to make a measurable difference, and needs colossal amounts of electricity, irrespective of which alternative fuel is to be produced.

We think Oceanswellenergy's concept, as described in the link, is highly promising, as it combines the potential for competitively low Levelised Cost of Energy (LCoE) with the possibility to produce alternative fuels at large scale.

As indicated in the link, we are associated with Oceanswellenergy's project. This is a great point of pride for us, for two main reasons:

• This represents an important vote of confidence in our platform and its ability to optimise and track & trace the circularity of this exciting and highly innovative project; and

• Rather than dismantling a ship's hull and then recycling it through a somewhat carbon-intensive process, directly reusing it to produce power and alternative fuels is a very significant step up the waste hierarchy, and is a great demonstration of proper circular thinking in action

We are looking very much forward to contributing to this project. Follow us to receive more updates as we move along.