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Shipping is a large contributor to greenhouse gas emissions
Shipping accounts for roughly 3% of global CO2 emissions - approximately 1 billion tons per year. The maritime industry faces significant challenges and opportunities in the green transition. The challenge of reducing these emissions while maintaining operational efficiency is driving innovation and technological advancements to become more energy efficient.
Shipping is a hard-to-abate industry
Shipping is one of the most energy-efficient means of transportation today, transporting roughly 90% of world goods. However, it remains a hard-to-abate industry to decarbonize for reasons including high-energy demand (huge ships), long-range/distance requirements, and operations in remote areas globally with associated infrastructure requirements.
Energy efficiency technologies in shipping present a huge opportunity
Fuel expenditures are expected to increase with new and greener energy sources – up from around $100 billion annually today. The best energy is the energy not used. Energy efficiency solutions are expected to see increased sales moving forward, due to increased fuel costs and regulatory pressure. The most natural uptake of solutions in the market is the ones that do not need subsidies to be commercialized. In contrast to many expensive solutions in the “greentech space” that need subsidies from the government, energy efficiency solutions are fundamentally good investments for the ship owners and the world.
There are now more than 500 Air Lubrications Systems (ALS) installed/ordered, from "nothing" a decade ago
Ship owners and operators can choose from countless technologies and solutions claiming to achieve energy savings. One of these technologies, Air Lubrication Systems (ALS), has been on the market for a decade and is now experiencing rapid uptake among ship owners. As of 2024, more than 500 ships have ordered or already installed ALS. This is up from approximately zero a decade ago, and most of the orders are placed after 2020. This technology reduces a ship’s hull friction by creating a carpet of bubbles along the hull’s bottom, cutting fuel consumption and emissions reportedly by up to 5-10%. It is suitable for a wide range of ships, including LNG carriers, RoPax/RoRo vessels, bulkers, container ships, tankers, and cruise ships.
Pascal Technologies is uniquely positioned for the air lubrication market
Pascal Technologies is commercializing air-based energy efficiency solutions for boats and ships, including both air cavities and air lubrication systems. Leveraging more rapid and low-cost iterations from the smaller boats enables Pascal to introduce advanced technologies to shipping with a lower risk than competitors.
Winning in the shipping OEM market - "the market of a thousand niches”
The maritime industry is a market of a thousand niches. Building a winning company in the maritime space requires building a scalable technology that can be sold to boats and ships of all sizes. Air-based energy efficiency solutions have the potential to revolutionize all maritime vessels, and Pascal specializes in the high-competence knowledge needed to do so – including system design, simulations, software, and control systems.
Despite its promise, achieving maximum energy efficiency for air lubrication systems across varying operating conditions remains a challenge. At Pascal, our expertise lies in the intersection of air solutions and control software. By leveraging smart software, we can automatically optimize energy performance in real time, adjusting to actual conditions. We believe this approach is crucial for the next generation of air lubrication solutions.