World News
Shell, Trafigura, Aramco Invest in Universal Scrubber Technology Firm
Some of the world's largest oil companies are among the latest investors in a technology company developing a scrubber that can remove carbon dioxide and methane emissions as well as sulfur and nitrogen.
Trafigura, Shell Ventures, Saudi Aramco Energy Ventures and AET have joined the latest investment round in Daphne Technology, Trafigura said in an emailed statement on Friday. The company is working on a scrubber that can remove emissions including nitrogen oxides, methane and carbon dioxide from the exhaust of any fuel type, including oil, LNG, biofuels, ammonia and hydrogen.
The ability to reduce the emissions of unburnt methane from LNG-fuelled ships and to cut carbon dioxide emissions marks the technology out from current scrubber models.
"Daphne Technology's innovative approach has the potential to become a pivotal technology for the maritime industry," Margaux Moore, head of energy transition research at Trafigura, said in the statement.
"The ability to capture emissions from hydrocarbon maritime fuels and meaningfully reduce emissions in the short-term is a critical component of the industry's transition to net zero emissions, in which multiple fuels and multiple abatement solutions will be required.
"This investment fits well with our strategy to invest in and develop technologies and business models that will be required for the transition to net zero."
AET said it will seek to use the technology in its gas-powered ships to reduce their emissions.
"As a believer in LNG as a longer-term solution in maritime decarbonisation, we have been looking for technologies to reduce the methane slip and improve the 'tank to wake' decarbonisation environment," Rajalingam Subramaniam, CEO of AET, said in the statement.
"Therefore, aside from being an investor, we will also deploy and test the technology across our vessels which utilise LNG as a fuel source."
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| VLSFO | MGO | |||
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| $/mt | +/- | $/mt | +/- | |
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| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
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| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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