Global corporation Cargill has launched a competition for companies to find and scale new technologies capable of reducing a ship’s carbon dioxide emissions by 10%.
The “CO2 Challenge” initiative is being launched in partnership with risk management firm DNV GL and Rainmaking, a company which specialises in innovation partnerships.
All businesses and entrepreneurs with a product in need of commercial assessment, testing, investment and scaling can apply to participate in the challenge.
It aims to explore solutions such as zero-carbon fuels, energy efficiency measures, efficient vessel designs and better ship utilisation.
DNV GL will conduct assessments of the technologies proposed and model potential efficiency gains.
Jan Dieleman, President of Cargill’s ocean transportation business, said: “By taking this innovative approach, we hope to uncover new technologies, new ideas and new ways of working to help our industry meet the challenge of decarbonisation and reduce its impact on global warming.
“Applicants have a unique opportunity to see their product make it onto a vessel and hopefully, into wider commercial production.”