FUELSAVE Applies to Join the CO2 Challenge
- Business & Finance
Germany-based manufacturer of fuel saving additive, FUELSAVE, has applied to become a partner of the CO2 Challenge, the initiative set up by US conglomerate Cargill, entrepreneurial group Rainmaking and classification society DNV GL.
The CO2 Challenge aims to partner with start-ups and technology companies with systems capable of reducing a vessel’s CO2 emissions in line with international climate strategies and targets. Since the initiative was launched in June 2018, it has received some 70 applicants from 20 different countries.
“As shipping looks at solutions capable of cutting carbon emissions in half by 2050, the CO2 Challenge is the optimum platform from which to launch new technology. The initiative not only helps the industry discover new solutions capable of reducing shipping’s impact on the global environment, but it can provide start-ups with the help they need to get their innovations to market and scale up production,” Marc Sima, FUELSAVE co-founder and President, said.
While the FUELSAVE application has yet to be assessed, the partners have set strict entry criteria to ensure that only companies with viable technologies capable of reducing a ship’s carbon footprint by 10% can apply.
Following field and laboratory tests, the company officially launched its fuel saving additive FS Marine+ at the beginning of the year.
“Tests confirmed the technology’s ability to reduce fuel consumption, and consequently carbon emissions, from any marine diesel engine by 10% (net). The system also reduces NOx emissions between 30 – 80% and FSN/ PM / BC by 30- 40% and cleans up the combustion process for visibly less soot and reduced engine wear & tear,” Heino Eckerich, FUELSAVE Technical Director, said.