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Cargill to launch decarbonisation program in Singapore

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Dry Bulk,

Cargill, along with Rainmaking and more than 10 industry partners, is launching a program in Singapore to decarbonise the maritime industry.

The program, which is the first of its kind in Asia, will bring together start-ups and industry leaders to test and scale transformational technologies that can reduce CO2 emissions.

“We know that Asia is a gateway to a wealth of tech innovation and we need to tap into this. We also know that our industry faces a huge challenge to decarbonise emissions and drive digitalisation. By connecting creative and talented thinkers with industry leaders at one of the world’s busiest ports and digital hubs, we will be able to convert transformational ideas into real opportunities,” said Ying Ying Lim, APAC Managing Director for Cargill Ocean Transportation.

A program with genuine impact

Shipping plays an essential role in facilitating world trade, remaining the most cost-effective and energy-efficient mode of mass cargo transport. It also contributes to around 2% of global greenhouse gases (GHG), and the International Maritime Organization (IMO) has set a target to reduce the maritime industry’s GHG emissions by 50% in 2050 and average carbon intensity (CO2 per ton-mile) by 40% in 2030, compared to a 2008 baseline.

Unlocking the potential of Asia

By connecting tech innovation with corporate scale and funding, the Singapore program will play an important part in helping the industry fulfil the IMO’s decarbonisation targets.

The program is part of Rainmaking’s global Trade and Transport platform, which has already hosted two cycles in Europe, scouting more than 1200 start-ups and resulting in 24 collaboration projects between five corporate partners and 16 selected start-ups. The Singapore version aims to replicate this success by identifying tech start-ups from across Asia and matching them with corporate leaders such as Cargill to deliver scalable pilots and ventures that will generate short and long-term decarbonisation return on investment and impact.

Applications for the Singapore program are now open and will be accepted until 10 April 2020. Start-ups will be screened and the most relevant teams invited for the program kick-off days in Singapore.

A growing partnership to decarbonise shipping

Cargill and Rainmaking have a history of success working together to scout for inspiration to reduce CO2 emissions. In 2018, Cargill ran a CO2 Challenge alongside Rainmaking and DNV GL, an initiative that attracted more than 180 applications proposing solutions to reduce a ship’s gross CO2 emissions by up to 10%. Through this, Cargill has been able to explore existing and new technologies, with energy-saving devices now being installed on vessels under its charter.

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