With the aim to decarbonise the maritime industry, Cargill, alongside Rainmaking and more than 10 industry partners will be launching a program in Singapore.
Being the first of its kind in Asia, the program will bring together industry players and start-ups in order to test and scale transformational technologies which can help reduce CO2 emissions.
“We know that Asia is a gateway to a wealth of tech innovation and we need to tap into this. We also know that our industry faces a huge challenge to decarbonise emissions and drive digitalisation. By connecting creative and talented thinkers with industry leaders at one of the world’s busiest ports and digital hubs, we will be able to convert transformational ideas into real opportunities,” remarked Ying Ying Lim, APAC Managing Director for Cargill Ocean Transportation.
A program with genuine impact
As a means of facilitating world trade, shipping plays a crucial role and it remains the most energy-efficient and cost-effective form of cargo transport. However, cargo transport also produces about 2 per cent of global greenhouse gases (GHG). The mission of the International Maritime Organization (IMO) is to lower the maritime’s industry GHG emissions by 50 per cent in 2050 in addition to lowering average carbon intensity (CO2 per ton-mile) by 40 per cent in 2030, compared to a 2008 baseline.
Unlocking the potential of Asia
By tying together corporate scale and funding with tech innovation, this programme will play a crucial role in assisting the industry to fulfil the IMO’s decarbonisation targets.
The decarbonisation program is housed within the larger Rainmaking’s global Trade and Transport platform. The platform has scouted more than 1,200 start-ups and hosted two cycles in Europe, which birthed 24 collaboration projects between 16 selected start-ups and five corporate partners.
Modelling after the Rainmaking’s global Trade and Transport platform, Singapore’s decarbonisation programme hopes to replicate a similar success by identifying start-ups from all over Asia and matching them to corporate leaders like Cargill. This partnership will help generate short and long-term decarbonisation return on impact and investment.
The deadline for application to the programme is 10 April 2020. Applications are now open.
Start-ups will undergo screening process, and the most relevant teams will be invited for the program kick-off days in Singapore.