ECOsubsea, a pioneer in sustainable hull cleaning, has secured a $62m loan from Innovation Norway to expand its operations in Singapore, the world’s second-busiest port. The funding will support the construction of next-generation hull cleaning robots, including the Pink Panther, which debuted in Singapore last autumn. These robots, built in Norway, will be deployed from specially adapted tug vessels to clean ships whilst they are bunkering at anchor, significantly reducing fuel consumption and CO2 emissions.
The Green Growth Loan, part of a NOK 150m project, aims to incentivise private capital for climate-friendly solutions. Håkon Haugli, CEO of Innovation Norway, stated, “ECOsubsea’s results have surpassed all expectations, and this year will be the first full year of operation for the Pink Panther.” The loan will be matched with equity from private investors over the next six months, with new robots expected to be operational by the end of 2025.
ECOsubsea’s Managing Director, Tor Mikal Østervold, emphasised the importance of scaling eco-friendly solutions, saying, “The loan provides a catalyst for us to scale faster and make an even bigger contribution to preserving the environment.” The Pink Panther technology cleans hulls in 7.66-metre swathes, reducing cleaning time from 40 hours to just four, whilst collecting fouling debris to prevent environmental pollution.
ECOsubsea aims to reduce global shipping emissions by 100 million tonnes of CO2 annually, with a target of two million tonnes in 2025. The company plans to expand its network to 250 cleaning robots globally, including in key locations such as Panama, Suez, and Gibraltar.
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