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Wilhelmsen joins program by Rainmaking to drive decarbonisation in shipping

24 Jul 2020

Norway-based international maritime solutions company Wilhelmsen Ships Service on Wednesday (22 July) said it has partnered with Rainmaking’s program to drive decarbonisation in shipping.

The program is led by venture development firm Rainmaking and includes industry leaders such as Cargill, DNV GL, Hafnia, MC Shipping (a subsidiary of Mitsubishi Corp), Shell, and Vale. A second six-month cycle is set to commence in August 2020, it said. 

“Economic growth and increased global trade cannot happen at the expense of the environment or our future generations’ needs,” said the company.

“The coronavirus could be the ultimate acid test for how we want to do business when things are better and back to normal. 

“Irrespective of Covid-19’s lasting impact, humanity faces some of its biggest challenges. We have singled out three: Decarbonisation. Marine litter and pollution. Renewable energy.”

As the program progresses through end-2022, it will identify more than 3,000 high-impact tech startups around the world, fostering and catalysing a final shortlist of over 100 scalable pilot schemes and ventures. 

Each will seek a solution to the issue of carbon emissions in the shipping industry, with the ultimate goal of achieving industry-wide CO2-neutral status.

Scouting candidates for the first cycle of this program, Rainmaking initially identified 1,200 promising startups, with a cumulative funding of US$14 billion, based across 70 countries. 

“Working with corporate partners and curated startups, accelerating technology capabilities to help the maritime industry tackle the big issues embodies the open innovation principles that Wilhelmsen fosters,” said Nakul Malhotra, Vice President Open Innovation for Wilhelmsen.

Startups are setting out to reduce shipping’s carbon emissions in a broad variety of ways including: 

  • development of new or alternative energy sources
  • augmented reality (AR) solutions
  • AI and data enabled CO2 reduction
  •  increasing energy efficiency
  • automation, infrastructure and business model innovation
  • greater transparency in tracking of CO2 provenance and quantities
  • carbon offsetting; and improved vessel design

Related: Rainmaking selects startups to nurture towards decarbonisation of shipping

Photo credit: Wilhelmsen Ships Service
Published: 24 July, 2020

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