The Maritime and Port Authority of Singapore (MPA) and National University of Singapore (NUS) commemorated the 5th anniversary of PIER71 at the inaugural PIER71 Great Circle 2023 event held on Tuesday (21 November) at Suntec Singapore Convention and Exhibition Centre.
The event comprised the 7th edition of the Smart Port Challenge Grand Finals, a MarineTech Start-up Innovation Showcase, and the inaugural PIER71 Ascend. PIER71 Great Circle 2023 event draws inspiration from the practice of great-circle navigation and reflects the efforts by PIER71 to help start-ups get on the most direct route to deliver maritime innovation.
Since its establishment in 2018, PIER71 has nurtured close to 110 MarineTech start-ups with the support of 62 corporate partners. MPA’s Maritime Innovation and Technology (MINT) Fund has supported over 50 start-up projects, with 26 solutions already deployed by the industry. These start-ups have also raised over SGD65 million in investments from venture capital (VC) partners to support their expansion. Five foreign MarineTech start-ups have also expanded to Singapore, and four start-ups including three from Singapore have been acquired by corporates.
MPA and NUS have expanded PIER71 initiative in 2023 to connect shortlisted start- ups to overseas markets, government stakeholders, and prospective maritime customers through the PIER71 Ascend 12-month programme. The first cohort comprising four start- ups was unveiled at the event and they will be working closely with PIER71 to sharpen their growth strategy in 14 overseas markets which they are operating in.
Winners of the Smart Port Challenge Grand Finals 2023
17 finalists were shortlisted from a pool of 150 applications from 30 countries, and the top three winners were selected by a judging panel in the Smart Port Challenge Grand Finals 2023.
The countries include Australia, Brazil, Canada, China, Croatia, Estonia, Finland, France, Germany, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, New Zealand, Norway, Philippines, Poland, Russia, South Africa, South Korea, Spain, Sri Lanka, Thailand, United Kingdom, United States of America, and Uruguay.
Measure.AI, CRecTech, and Rux Energy emerged as the first, second, and third winners respectively, and MicroSec received a Special Mention by the judges. The evaluation criteria was based on quality of the innovation, business model, market potential, industry relevance, and the team’s capability including tech development and design skills.
Measure.AI from Singapore makes novel, low-cost, reusable and highly sensitive real-time gas sensors. It uses a patented novel method of making various unique of gas sensors. Their sensors are non-specific and the gases or gas mixtures are identified and quantified based the unique changes in the electrical properties of an array of sensors upon gas exposure.
CRecTech from Singapore developed a novel catalyst coating for biogas reforming that greatly enhances its resistance against carbon and CO2 poisoning, and is capable of breaking down and utilising CO2 in biogas. This enables a revolutionary one-step biogas reforming process, converting CO2-rich biogas into low-carbon hydrogen and syngas for green methanol in a subsequent process.
Rux Energy is an Australian advanced materials startup aiming to double the volumetric efficiency and halve the cost of dispatchable hydrogen storage for bulk distribution, refuelling, heavy mobility and aviation. Their goal is to be directly responsible for 50 million tonnes of CO2 abatement, each year, every year, by 2030.
One of the grand finalists from Singapore, 3Y Energy highlighted its innovative system that integrates with current engines, a one-stop solution for integrating alternative bunker fuels (specifically ammonia, methanol, and hydrogen) into existing marine or heavy-duty engines. The modular design of the system incorporates fuel supply, combustion control and online monitoring. The design also ensures optimal combustion without any output degradation. Users can flexibly adjust the CO2 reduction range to meet regulatory standards, achieving up to 90% reduction with ammonia and a complete 100% with hydrogen. 3Y Energy’s solution is estimated to be 10%-20% of a conventional engine of similar capacity.
Close to 50% of the submissions received were related to maritime digitalisation, and 40% were related to maritime decarbonisation. These include solutions to support maritime clean fuels operations, carbon-value chain, electrification, and green maritime supply chain. The emphasis on digitalisation and decarbonisation reflects the increasing attention by the industry and urgency to accelerate the green energy transition.
The 18 finalists have also completed PIER71 Accelerate, an eight-week market validation and customer discovery programme and are now eligible to apply for a grant of up to S$100,000 from MPA to embark on pilot projects with maritime companies.
Close to 50% of the submissions received were related to maritime digitalisation, and 40% were related to maritime decarbonisation.
These include solutions to support maritime clean fuels operations, carbon-value chain, electrification, and green maritime supply chain. The emphasis on digitalisation and decarbonisation reflects the increasing attention by the industry and urgency to accelerate the green energy transition.
The 17 finalists have also completed PIER71 Accelerate, an eight-week market validation and customer discovery programme and are now eligible to apply for a grant of up to S$100,000 from MPA to embark on pilot projects with maritime companies.
Mr Teo Eng Dih, Chief Executive, MPA, said, “Technology and innovation will play a pivotal role as the global shipping community and Maritime Singapore accelerates digitalisation and decarbonisation efforts. The PIER71 programme partnership among MPA, NUS, and industry collaborators has helped to nurture Singapore’s maritime innovation ecosystem, incorporating clean alternative fuels and green maritime technologies. As we commemorate PIER71 5th anniversary, we will also strengthen PIER71’s international linkages, expand the search for innovative solutions beyond our shores, and leverage the Port of Singapore as a Living Lab to pilot new ideas”.
Photo credit: Maritime and Port Authority of Singapore
Published: 22 November, 2023
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