GT Green Technologies

WHATS THE PROBLEM?

  • Shipping contributes to 3% of global emissions annually, and with cargo ships typically having a lifespan of 25-30 years, the industry faces significant challenges in meeting new emission regulations.

  • These regulations require a 40% reduction in carbon intensity by 2030.

  • While hydrogen-powered ships are still on the horizon, retrofitting existing diesel ships offers a promising path to decarbonisation.

  • This week’s company, GT Green Technologies, has created an innovative solution to make shipping more sustainable👇

Solution in a sentence: Installing AirWing wind propulsion technology on vessels to save fuel, reduce emissions, and cut costs while meeting EU ETS targets.

Key Features:

  • Retrofittable or suitable for new ships.

  • Compact design minimises cargo operation impact.

  • Modular and transportable for rapid scalability. 

  • Fuel savings with industry-leading lift and thrust coefficients (10-30% reduction).

  • 3-4 year payback period.

Company breakdown:

  • Industry: Marine

  • Headquarters: Liverpool, England

  • Year Founded: 2021

  • Employee Count: 9

  • Investors: OnePlanetCapital, Carisbrooke Shipping, John Good Group plc

  • Previously Raised: £1.35 million seed round + £3.7 million grant

  • Early Traction: January 2024, GT Green Technologies received a £3.7 million grant from the UK Department of Transport to manufacture, install and test the first AirWing device on a vessel.

Due Diligence

WHAT WE LIKE
  • Market size: Over 20,000 ships subject to emissions regulations can benefit from retrofittable AirWing technology. Today, there have only been 35 installations. Total addressable market expected to be greater than $10bn by 2030.

  • Scalable design: AirWing can be shipped globally in containers.

  • Cost savings: Fuel savings pay for the technology within 3 to 4 years.

POTENTIAL RISKS
  • Cost Efficiency vs. Carbon Credits: As carbon markets evolve, credit prices may decrease. However, investing in carbon credits remains a cost-efficient way to meet emission reduction targets.

  • Competitive Market: GT Green Technologies lacks a first-mover advantage and hasn’t compared efficiency data with competitors. The true savings of the AirWing will become clear after its initial installation later this year.

  • Retrofit Challenges: Retrofitting wind propulsion technology (WPT) can impact engine health due to legacy vessels designed for consistent RPM. Structural adjustments may also be necessary.

Founding Team

To request an introduction to the founder, please reply to this email

Comparables

Why GT Green Technologies? Despite competition, GT Green's scalability and installation flexibility position it well to capitalise on the largely untapped market.

Have your say:

Written by Sam Dibble

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