Safetytech Accelerator and Lloyd’s Register Maritime Decarbonisation Hub establish a partnership in green fuel assurance22/08/2022
Safetytech Accelerator and Lloyd’s Register Maritime Decarbonisation Hub are pleased to announce their partnership with two companies, TYMLEZ and Authentix, selected to undertake a feasibility study on the assurance of green fuel in the maritime industry.
The global maritime industry currently contributes 3% of global CO2 emissions. While the industry has taken steps in recent years to reduce its carbon footprint, major change is still needed to meet the industry’s goal of a 50% reduction in greenhouse gas emissions by 2050.
There are different possible avenues industry players can investigate to reach these ambitious targets: transitioning to fuels with lower greenhouse gas emissions such as green ammonia and hydrogen is one of the most promising ones. Greener fuels have the potential to power the next generation of container ships and tankers with one of the biggest barriers to their adoption being assurance: How can buyers of fuel that is sold as being “green” be assured that it was produced, transported, and handled in a truly green way?
Recognising the need for verified green hydrogen and green ammonia, Lloyd’s Register Maritime Decarbonisation Hub and Safetytech Accelerator identified around 30 companies with interesting technologies which could play a role in assuring the well-to-tank supply chain for green fuels. Five finalists were invited to take part in a pitching contest, of which two companies, TYMLEZ and Authentix were selected and offered partnerships.
The objective of the partnership is to conduct commercial feasibility studies to determine how the two companies can play complementary roles in assuring the greenhouse gas footprint of these new low carbon fuels.
Between August and November 2022, TYMLEZ will focus on the feasibility of guarantee of origin solutions to verify the production of green fuels for the maritime industry. In parallel, Authentix will concentrate on the tracing of these fuels throughout the maritime supply chain using their chemical markers.
The technologies presented in the two studies will help industry to understand what role could be played by human intervention and how these can be minimised as we strive for net-zero. They will also contribute to a better understanding of how standards in the certification green hydrogen and green ammonia in the maritime industry could be developed in the near future.
TYMLEZ is a pioneer in the development and delivery of carbon reporting and guarantee of origin solutions built using blockchain technology. TYMLEZ provides solutions for complex industrial applications that can guarantee the origin of green resources including green fuels such as green hydrogen and green ammonia.
TYMLEZ CEO Daniel O’Halloran said “The partnership with Lloyd’s Register Maritime Decarbonisation Hub and Safetytech Accelerator is exciting as it will allow us to help shape the future of guarantee of origin for the maritime industry globally. Being selected for this project is a sign of confidence from these respected organisations, and we look forward to working closely with them.”
For over 25 years, Authentix has been the leading global authentication solution provider serving over 20 national governments and major oil companies through managed fuel integrity programs on five different continents. Authentix provides environmentally safe, covert fuel marking technologies along with cloud-based information monitoring systems to prevent illicit trade and enable clients to track real-time compliance in fuel supply chains for quality assurance and revenue optimization.
Authentix Vice President Jim Seely commented on the partnership, “Authentix is excited to be selected as a key partner for this important project for the Maritime industry to reach its goals of overall reduction in carbon emissions. As these innovative green fuel sources are utilized, it will provide a substantial impact towards that cause. We will endeavour to be on the cutting edge of technology development ensuring these new fuel sources can be properly verified and tracked by industry and government to prevent illicit trading and adulteration in the future.”
Charles Haskell, Decarbonisation Programme Manager at Lloyd’s Register Maritime Decarbonisation Hub had this to say, “Whilst the shipping industry looks to alternative fuels, the lifecycle impact of these fuels must be taken into account rather than pushing the emissions upstream. This presents a challenge when verifying the fuels for shipowners, ports and regulators. This study is aimed to demonstrate that technology is available to determine the traceability and impact of the emissions in producing these fuels.”
Maurizio Pilu, Safetytech Accelerator’s Managing Director commented: “Technologies which can support the assurance of supply chains are evolving rapidly and are starting to be adopted in many sectors. Through these two connected feasibility studies we hope to show how they can be applied to the important area of assurance of greener fuels in shipping and stimulate more innovation and entrepreneurs to help the maritime industry move towards net-zero.”
Watch this space to find out what we learn from these feasibility studies.
About Lloyd’s Register Maritime Decarbonisation Hub
Lloyd’s Register Maritime Decarbonisation Hub is a joint initiative between Lloyd’s Register Group and Lloyd’s Register Foundation that brings together thought leaders and subject matter experts with the skills, knowledge and capability to help the maritime industry design, develop and commercialise the pathways to future fuels required for decarbonisation.
Find out more at www.maritimedecarbonisationhub.org
About Safetytech Accelerator
Safetytech Accelerator is a non-profit established by Lloyd’s Register and the Lloyd’s Register Foundation. It is the first fully dedicated technology accelerator focused on safety and risk in industrial sectors, with a mission to make the world safer and more sustainable through wider adoption of technology.