UK Shipmanager Partners With Njord for Energy Savings

Credits: Marek Piwnicki/Unsplash

UK-based Greenheart Management, a subsidiary of Hayfin Capital Management, has teamed up with green tech business Njord and maritime consulting firm Marsoft to gain access to carbon credit revenues for reducing emissions.

In a first-of-its-kind collaboration, we are introducing a new financing vehicle, which we believe will accelerate technology adoption and emission cuts,” said Frederik Pind, managing director at Njord.

Access to carbon credit revenues

The partnership will see Njord, a venture between Cargill, Mitsui and Maersk Tankers, design a package of fuel-saving technologies for initially four Greenheart-owned vessels to achieve fuel and emission cuts of between seven and 16% per vessel. Marsoft will quantify and certify the CO2 savings through carbon credits, ensuring Greenheart will optimise the financial value of the fuel savings.

Despite the many environmental and financial advantages of installing energy-saving devices, the investment can still be difficult for owners to finance,” remarked Pind, adding: “We help owners overcome that financing barrier by making the business case more attractive.”

GreenScreen program

Marsoft’s GreenScreen program complements Njord’s design approach by assessing the emission reductions from the retrofits—a requirement to enrol the ships in a Gold Standard program. The company’s collaboration with ClimeCo, a leader in the carbon markets, is said to secure premium pricing for Greenheart’s carbon credits in the voluntary carbon markets.

The industry is beginning to see the real value of the carbon markets to accelerate the pace of decarbonisation today,” said Arlie Sterling, president of Marsoft. “We help secure an audited and documented statement of reduced CO2 emissions that delivers incremental revenue and return on investment.”

Commenting on the partnership, Nikos Benetis, technical director at Greenheart Management, added: “Whilst discussing with both Njord and Marsoft, we identified a complementary overlap in support, outcomes and goals, hence we suggested a tri-party collaboration. We are therefore extremely excited to pilot this and look forward to the work and findings. Collaboration in our industry is of paramount importance and this partnership is a firm step forward.”

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Source: Offshore Energy