Ports & Maritime

Stringent emissions targets have now been set in the Maritime industry, with the IMO GHG Strategy (2018) committing the maritime sector globally to reducing emissions of greenhouse gases from shipping by at least 50% by 2050 compared to 2008, while pursuing efforts to phase them out.

This daunting target was recognised in the UK’s Maritime 2050 strategy (January 2019), which acknowledged that ‘to reach significant reductions of greenhouse gases (GHGs) and air quality pollutants, energy efficiency technologies will not be sufficient. Low or zero-emission fuels and propulsion technologies will be necessary.’

This could provide a number of potential future opportunities. We believe the industry could derive significant benefits from low cost, readily available, and high-energy dense green ammonia fuel (rather than hydrogen gas) as a fuel of choice in off-grid or remote power needs, including international shipping. A key part of our collaboration with Ricardo is the joint exploration and engineering of innovative, zero greenhouse emission products to take advantage, whilst benefitting from Ricardo’s considerable international reach in understanding the key requirements of potential maritime customers.

We also believe a market exists for stationary power generation at Ports via the replacement of traditional power sources, including diesel generator sets, with hydrogen-sourced, zero-emission off grid power for use in many of its operations, thereby showing global leadership in reducing GHGs and improving air quality.