Smart Green Shipping raises £1.4m from MOL Drybulk and Scottish Enterprise to support sustainable shipping technology
The investment round was backed jointly by MOL Drybulk and Scottish Enterprise.
Smart Green Shipping is a systems design and engineering firm based in Dumfries that develops retrofit sails and technologies for sustainable commercial shipping.
Smart Green Shipping has secured £1.4m in a new funding round backed by MOL Drybulk and Scottish Enterprise. The capital will support the ongoing development and upcoming testing phase of the company wingsail technology.
The Dumfries-based engineering firm is preparing to demonstrate its FastRig system at Hunterston PARC later this year. The company collaborates with various industry partners to deliver sustainable solutions for commercial cargo vessels.
From the founder
"Wind-assist is the only technology that can support global shipping’s GHG reduction in line with International Panel on Climate Change advice – emissions must start reducing rapidly if we are to avoid temperature increases of more than 1.5 degrees."
Diane Gilpin
Chief Executive at Smart Green Shipping
Investor perspective
"MOL is committed to decarbonisation within our industry and Scotland is at the forefront of many environmentally friendly solutions, whilst our investment in Smart Green Shipping furthers our commitment to the UK."
Kazuhiko Kikuchi
President and Representative Director, MOL Drybulk
Investors
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About the company
Smart Green Shipping
Smart Green Shipping develops retrofit sails and technologies for sustainable commercial ships.