A two-pronged consortium strategy via (1.) an engineering collaboration led by Wilhelmsen and Mitsubishi Corporation and (2.) a fresh US$1.6M seed will see eight industry leaders backing the startup
28 APRIL 2022 – More than eight maritime and supply chain leaders are coming together via (1.) an engineering collaboration and (2.) US1.6M seed round to bring Everimpact’s carbon measuring hardware onboard commercial vessels and to ports.
“Accelerating the engineering of Everimpact’s hardware to measure physical carbon emissions on vessels will solve one of the shipping’s most overdue challenges. Complexities – like cost of hardware, extreme temperatures in exhaust stacks and weather conditions – have prevented others from cracking the code but by joining hands with maritime’s most influential through our engineering collaboration and seed raise, we really have the best opportunity to see market adoption,” said Mathieu Carlier, Founder and CEO, Everimpact.
The two-pronged engineering collaboration and capital consortium approach was structured to accelerate the engineering of Everimpact’s hardware, which is the only IoT capable of measuring real carbon emissions on an industrial or city-scale. CO2 emissions in maritime are currently measured via calculations predicated on assumptions or visual analysis of smoke coming out of exhaust stacks.
Wilhelmsen and Mitsubishi Corporation will lead the engineering collaboration with the startup so that its urban-proven sensors can withstand the harsh conditions on board vessels and ports.
The oversubscribed US$1.6M seed round was led by Motion Ventures and also included Asian Development Bank’s venture arm (ADB Ventures), MOL Plus, IMC Ventures, Blue Star Group, Rainmaking and more.
Everimpact’s hardware has already been proven in urban environments and plans to integrate software capabilities to supercharge the platform. Shell most recently chose Everimpact as the winner of its New Energy Challenge to trial its CO2 emissions software.
More than 100 sensors by Everimpact, paired with software have been used to measure the carbon footprint of eight cities across Europe and the UK. Dijon, France became the world’s first city to track live air quality and CO2 footprint at an urban scale by using Everimpact’s technology in digital hubs which replaced telephone booths.
The hardware being developed for the new maritime application will display real-time actual CO2 data captured by IoT sensors installed on the exhaust stack of ships and will give vessel owners visibility on ways to optimise ship operations. This solution will be installed and trialled on a select number of Ships owned by Mitsubishi Corporation group in order to validate the system before commercialisation at scale. A smart CO2 dashboard will allow access to emission data as it is being physically emitted via smoke to discover opportunities for reductions and receive certified data for reporting and decarbonisation efforts.
Nicklas Viby Fursund, General Partner of Motion Ventures said: “Bringing together those from the public and private sector with the most influence on maritime and global supply chains is unprecedented. The pairing of the engineering collaboration and strategic capital is not just a milestone for Everimpact but a proof point for a consortium approach to innovation.”
Munish Aggarwal, Investment Specialist at ADB Ventures said: “Everimpact’s powerful platform combines satellite technology and ground systems to help cities and operators of large sites track their carbon footprint in real-time is unique and best placed to offer actionable and reliable insights to solve critical climate challenges. We’re thrilled to partner with Everimpact as the company expands its scalable solution in developing Asia.”
Nakul Malhotra, Vice President Emerging Opportunities Portfolio – Maritime Services, Wilhelmsen said: “Everimpact’s solution is already proven for urban environments but we now have an opportunity to take it significantly further. Our collaborative work could help them take a leap forward in the maritime industry and then have ripple effects on other industries too – making the hardware work onboard one of the most harsh operational settings opens up possibilities to introduce it to almost any industrial setting thereafter.”
Takafumi Oka, General Manager of Ship Dept., Mitsubishi Corporation said: “We believe that this project will help transform the maritime industry into one that is more transparent and reliable for carbon emission monitoring and reporting. This solution offers great potential for the industry at large to create value for supply chains around the world. Making carbon emission visibility possible aligns with new regulatory and compliance measures, such as CII and the carbon pricing market. We hope we can utilise the domain knowledge of each stakeholder and maximise the valuable expertise they each bring to the table as we embark on this exciting journey with our reliable partners.”
James Ong, Principal, IMC Ventures, said, “Everimpact’s commitment and track record in creating innovative solutions to solve difficult sustainability challenges for the world is a massive game-changer. Everimpact has a unique approach towards developing a Maritime Carbon Tracking and Offset Platform – using nano-sensor technology to trace the greenhouse gas emissions from vessels, and connect it to the carbon offset platform.”
Takuya Sakamoto, Representative at MOL PLUS, said: “We believe that Everimpact has a great potential of growth on this market with strong team of advanced initiatives and rapid implementation of urban demonstrations. We will keep up with this carbon credit activities and be proactive with collaborating Everimpact and all Partners.”
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About Everimpact: Everimpact provides a carbon tracking system to help shipping companies to continuously measure their greenhouse gas emissions, identify opportunities to reduce emissions, and finance their decarbonisation efforts. Everimpact’s technology has been rolled out in several smart cities and is now being commercialised to the shipping and energy sectors. EverImpact is supported by and has won innovation awards from the EU Commission, Google, Climate KiC, and Wilhelmsen. Recently, Shell chose Everimpact as the winner of its New Energy Challenge to trial its CO2 emissions software. Everimpact’s CO2 tracking system is the first to be deployed in cities, on ships, in ports and in refineries.