🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Wärtsilä unveils ammonia-fueled engine to cut emissions

EditorNikhilesh Pawar
Published 11/17/2023, 01:12 PM
© Reuters.
WRT1V
-

HELSINKI - Finnish technology company Wärtsilä has announced a significant advancement in maritime sustainability with the introduction of its commercial ammonia-fueled engine solution, the Wärtsilä 25. This innovation is set to revolutionize the industry by substantially reducing greenhouse gas emissions, aligning with both EU and International Maritime Organization (IMO) goals for a cleaner marine environment.

The company's president, Roger Holm, confirmed today their ambition to secure the first contract for this technology early next year. The launch of the Wärtsilä 25 engine is a culmination of years of research and development, including a full-scale test conducted in 2020. This new engine promises to deliver more than a 70% reduction in emissions, marking a significant step towards achieving net-zero emissions in shipping.

The strategic partnership between Wärtsilä and Viridis Bulk Carriers underscores the maritime industry's commitment to adopting cleaner fuels. Earlier in November, Viridis Bulk Carriers showed their dedication to this initiative by signing a Letter of Intent with Wärtsilä. Board member André Risholm from Viridis highlighted the critical role of technological advancements in meeting the emission goals set forth by the Paris Accord.

Wärtsilä's President Håkan Agnevall emphasized that their collaboration with c is instrumental in pushing towards emission-free shipping. The comprehensive package offered by Wärtsilä not only includes the groundbreaking engine but also an AmmoniaPac fuel gas supply system, advanced automation systems for safety and efficiency, maintenance agreements, training initiatives, and global support to facilitate the adoption of ammonia as a marine fuel.

Vice President Stefan Nysjö stated that this milestone not only aligns with EU targets for 2050 but also exceeds the IMO's target for 2040. He expressed that this achievement is just the beginning of ongoing efforts to reduce maritime operations' environmental footprint further.

The announcement comes on the heels of support from Norway's Enova, which granted funds to Viridis Bulk Carriers in September 2023 for constructing two ammonia-powered ships. This backing reflects a growing trend within the industry to invest in sustainable technologies that can meet stringent environmental standards. With Wärtsilä's Ammonia Release Mitigation Systems having earned DNV Approval in Principle as early as June 2023, the company has established itself as a leader in eco-friendly maritime solutions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.