The Problem:
The global shipping sector is facing an increasingly urgent need to cut emissions. The maritime sector currently accounts for ~3% of global CO2 emissions. A raft of new regulation (primarily from the IMO and the EU, but also the broader focus on scope 3 emissions) is now forcing ship owners to employ new technologies to reduce their carbon emissions, with the cost of 'non-compliance' quickly rising. The Solution:
GT Green has developed a unique propulsion technology – the AirWing – a double element wingsail that can reduce fuel use and carbon emissions by ~30%, with a payback period <4 years.
Our first customer, Carisbrooke Shipping, will be installing the AirWing on a 124m general cargo vessel later this year prior to our broad commercial rollout.The Differentiator:
Size - the AirWing is much smaller than competitor units. We have taken learnings from other sectors (aeronautical, Americas Cup yacht racing, F1) to design a device that offers material thrust from a minimal 'stowed deck footprint'. We can therefore offer more fuel savings from the most compact possible unit, which will have the least impact on complex cargo handling operations. Biggest Achievement:
GT Green is backed by the UK Government with a grant of £3.7M to fund the manufacture and installation of the first AirWing™. In March 2023 we were awarded Start-up of the Year at the prestigious Maritime UK Awards, and in October that was followed by GT being awarded 'Green Start-up of the Year' at Rotterdam PortXL.
We have built an exciting business quickly that has significant traction within the industry.
