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FastRig

Smart, cost-saving and recyclable wingsails for cargo ships

September 2021
Gallery FastRig 1
Gallery FastRig 1
01.

Identification

The International Maritime Organisation has committed the shipping sector to reducing GHG emissions by at least 50% by 2050 and to reach zero emission "as soon as possible". London broker Simpson Spence Young (SSY) has warned that less than 25% of bulkers and tankers will attain Energy Efficiency Existing Ship Index (EEXI) and the operational Carbon Intensity Indicator (CII) compliance, leaving most of the global merchant fleet facing either engine power limitation (EPL) options or other forms of CO2 abatement. FastRig is a modular, intelligent wingsail technology is designed to address this issue for the 75% of vessels with conversion to sailing hybrid, by reducing fuel consumption and GHG emissions by 20% and to help attain EEXI compliance. – FastRigs realise 20% fuel & GHG emission savings – FastRig technology needs no additional crew – No port-side infrastructure changes required – Rapid retrofit design to minimise disruption

Label Date September 2021
From United Kingdom
Maturity stage Prototype testing 1:1 in the lab
Looking For Network, Visibility, Funding, Partners, Credibility

Sectors - Value chain - Application

Sectors
Applications
Package & Distribute
Use & Efficiency
Valorize & Restore
Value Chain Steps
  • /
02.

The environmental benefits

  • Can save approximately 20% fuel on a transatlantic crossing on a Panamax-sized bulk cargo ship
  • 276 FastRig installations anticipated by 2030
  • 20% fuel and associated GHG emissions for up to 40,000 existing cargo ships
  • Potential to save 736,000 MT of ship's fuel consumption by 2030
03.

The Financial benefits

  • Decrease on fuel costs associated with 20% fuel savings
  • 3-5 year ROI for ship-owners/operators through managed-service leasing model
  • Reduction in imminent pollution penalties (EEXI & CII) for energy-inefficient ships
04.

Activity Region

  • /

Europe

United Kingdom,

  • Headquarters
  • Activity
05.

Company Profile

Smart Green Shipping Alliance Limited

Smart Green Shipping develops viable wind-powered solutions for shipping to reduce fuel consumption and GHG emissions.

View company profile Solution website
Headquarters Weavers Mead, Great Cheverell, Devizes SN10 5TP, UK
06.

Networking Partner

European Union

The EU, through its funding programmes, supports the development of innovations and technologies that help combat climate change, protect the environment and ensure a sustainable development and growth.

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Solutions Associated 152

Greenbackers

“Greenbackers is all about catalyzing the investment needed to build a more sustainable society. By connecting disruptive technology providers to our network of climate focused investors, we’d like to think we’re helping to save the planet – deal by deal” Robert Hokin, Founder and Managing Partner

View partner profile
Solutions Associated 9
Connect with the innovator Save to Project

The information set out above, is solely for the purposes of information and the Solar Impulse Foundation does not provide any guarantee as to its authenticity, completeness or accuracy. This information does not constitute investment advice or a recommendation to buy into, transact or to enter into any agreement with any of the parties or persons mentioned above. Potential investors or interested parties are solely responsible for their investment or business decisions and for performing any due diligence required by the circumstances.