Daphne Technology to advance Carbon Capture in the maritime transport sector.
PRESS RELEASE from Daphne Technology, announcing the licensing agreement with Saudi Aramco Technologies Company, a wholly owned subsidiary of Aramco, to further develop and commercialise its mobile carbon capture (MCC) technology.
PRESS RELEASE from Daphne Technology
Lausanne, 23rd of May 2023 - Daphne Technology has obtained a license from Saudi Aramco Technologies Company, a wholly owned subsidiary of Aramco, to further develop and commercialise its mobile carbon capture (MCC) technology.
Aramco's advanced MCC technology has the potential to contribute to the reduction of CO2 emissions from the maritime transport and other hard-to-decarbonise sectors. Carbon capture technology is an important tool in addressing carbon abatement, and Daphne Technology is at the forefront of developing greenhouse gas reduction solutions for hard-to-abate sectors including the deep-sea maritime sector. So far, Aramco has demonstrated the MCC technology in passenger road transportation and, more recently, in a heavy-duty truck with up to 40% carbon capture. While marine vessels consume thousands of tons more fuel than trucks, the science behind carbon capture technology is similar. The next step is for Daphne Technology to explore ways to adapt and integrate the technology with its proprietary solutions for deployment on large commercial vessels.
The International Maritime Organization is currently targeting a 50% cut in greenhouse gas emissions from the global fleet by 2050 compared to 2008 – this is driving significant demand for GHG mitigation solutions for the maritime transport sector, and MCC offers a potential path forward.
Dr. Mario Michan, Founder and CEO of Daphne Technology, commented: "We are thrilled to partner with Saudi Aramco Technologies Company and commercialise their innovative MCC technology for the maritime industry. It is a perfect fit with our strategy, which is to develop and integrate innovative technology to help our clients meet their decarbonisation goals. The MCC technology complements our proprietary methane slip reduction (SlipPureTM) and desulphurisation (SulPure®) systems, creating decarbonisation packages for current and future infrastructure and assets."
Abdullah S. Dhuwaihi, CEO, Saudi Aramco Technologies Company CEO, said: "Emissions from the shipping industry are particularly hard to abate, and there are limited low-carbon alternatives that are commercially available today. Our MCC technology is a new and innovative solution that aims to support the decarbonisation of the maritime sector, and we are pleased to partner with Daphne Technology.”
About Daphne Technology
Daphne Technology is a Swiss climate deep tech company that challenges conventional thinking by developing and integrating technology that eliminates GHG and toxic emissions. CEO Dr. Mario Michan founded Daphne in 2017. The company is based in Switzerland, with a subsidiary in Norway.
About Saudi Aramco Technologies Company
Saudi Aramco Technologies Company is a wholly-owned subsidiary of Aramco, a leading global integrated energy and chemicals company driven by the core belief that energy is opportunity. Saudi Aramco Technologies serves as the research arm of Aramco, specialising in developing and providing downstream technology solutions in the refining and petrochemical area.
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