Scorpio Tankers entered into a Memorandum of Understanding with Carbon Ridge to collaborate on the development of onboard carbon capture for maritime vessels.
Carbon Ridge is a US-based startup working to commercialize existing gas separation technology without the need for large structural modifications.
The Agreement addresses the collaboration for detailed front-end engineering, design, and validation process with a small-scale test unit onboard one of the Company’s vessels.
Commenting on the agreement, Emanuele A. Lauro, Chairman and Chief Executive Officer of Scorpio Tankers, said:
In light of the myriad questions regarding alternative fuels, we feel that onboard carbon capture presents a viable path to decarbonization for large segments of our industry
Moreover, Chase Dwyer, Chief Executive Officer of Carbon Ridge, added that with a recent push towards well-to-wake accounting for emissions, truly low-carbon alternative fuels will be in limited supply for the foreseeable future.
We believe carbon capture will provide the most cost-effective solution to meet IMO decarbonization targets for the benefit of all stakeholders
