Flagship Founders has launched its third start-up, zero44, which aims to help shipping companies, ship managers and charterers monitor and control their fleets’ CO2 emissions.
From January 1, 2023, shipping companies will have to monitor and report their carbon emissions as part of the IMO’s Carbon Intensity Indicator (CII) rating scheme, and by 2050, the international shipping industry aims to achieve zero emissions.
zero44 helps customers with their decision making by intervening in CO2 management at an early stage. The start-up uses customised digital solutions to provide shipping companies with comprehensive, daily carbon reporting and offers concrete advice on future strategies.
zero44 illustrates the commercial impact of the customer’s decision-making, plus how they can optimise processes as a result. A range of parameters and options are analysed, including the duration and route of future voyages – two factors that impact carbon emissions substantially.
The ship’s existing IMO rating is also used for calculations. Some cases may show the most economic alternative is to pay a surcharge for higher CO2 emissions – another scenario zero44 considers as part of its recommendation process.
“The shipping industry urgently needs solutions to become more sustainable – and not over the coming years or decades, but now,” said Friederike Hesse, managing director and co-founder of zero44. “Climate change waits for no one. We need to find creative and long-term carbon reduction approaches we can rely on immediately, regardless of a ship’s classification, age or its technology. A lack of any comprehensive, satisfactory solutions is what prompted us to found zero44in the first place. We want to help operators make these tough decisions and work with them to shape a more sustainable, resource-friendly global shipping industry. This is the only way to make the sector fit for the future.”
Fabian Feldhaus, managing director and co-founder of Flagship Founders stated: “Shipping needs to be fast now and become sustainable. As Flagship Founders, we are determined to contribute to this and have had our eye on the issue from an early stage. Talks with a range of industry players and experts have only confirmed what we already knew. Over the next thirty years, the drive towards carbon zero will be one of the biggest challenges this global industry has ever faced. New rules will mean every shipping company must scrutinise how they manage emissions. We need to consider the commercial impact of future legislation and optimise planning processes accordingly. The potential in this area is huge, we were able to validate this in the run-up to the founding. Our expertise in building digital business models is the perfect fit, so the decision was made to build and spin off zero44.”
At the helm of zero44 are managing directors and co-founders Friederike Hesse and Nils Obermann. In its current product development stage, the company is focussing on expanding their team and building customer relations. Software for the wider market is due to be launched later this year.