Through its fully-owned subsidiary Seanergy Shipmanagement Corp., Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is the first shipping company based in Greece to complete a strategic partnership in the European Union-funded SAFeCRAFT Project Consortium, a ground-breaking initiative concerning the use of alternative fuels.
The goal of Safecraft is to expedite the adoption of Sustainable Alternative Fuels (SAFs) technologies by showcasing the safety and viability of SAFs in maritime transportation. As a demonstration vessel under Safecraft, Seanergy will supply one of its current, traditionally fueled Capesize vessels, which will be modified to use hydrogen (H2) as the primary energy source for the production of electric power. Additionally, it is anticipated that this system will provide some of the vessel’s propulsion needs, lowering the need for conventional fuels.
In collaboration with Hydrus Engineering S.A., American Bureau of Shipping, National Technical University of Athens, MOTOR OIL (Hellas) Corinth Refineries S.A., University of Patras, Dresden University of Technology, RINA Services SPA, Pherousa Green Technologies AS, Foundation WEGEMT, and University of Strathclyde, Seanergy will supervise the feasibility study and the equipment retrofitting. The ultimate goal is to physically demonstrate the applicability of this ground-breaking technology to the current maritime fleet.
This driven project, which will be co-funded by the consortium partners and the European Union’s flagship research and innovation funding programme, “Horizon Europe,” will run for 48 months beginning in December 2023 and will be in line with the FuelEU Maritime 2040 targets. It will also show a resolute ambition to achieve a 26% reduction of CO2eq in an existing vessel.
“We are the first Greek-based shipping company on this groundbreaking project. The strategic partnership with the European Union and key industry stakeholders is another major achievement of our Company towards our global ESG objectives. Safecraft is advancing our proven strategy of making the current vessels more efficient and potentially reducing radically GHG emissions by utilizing alternative fuels and new technologies on the existing fleet. This prominent combination of world-renowned stakeholders consists of classification societies, engineering and industrial firms, the academic community, as well as the European Union. Our collaborative approach will actively contribute to the development of green solutions for the existing fleet, revealing solutions that have an immediate impact.”
Stamatis Tsantanis, Chairman & Chief Executive Officer at Seanergy.
“We actively pursue advanced operational and technical initiatives that place Seanergy at the forefront of a greener maritime industry as a notable example. We strive for a more sustainable course of operations and we constantly evaluate and further improve the Company’s ESG milestones in an effort to meet the global environmental targets through tangible and proven solutions.”
Vasileios G. Petousis, Energy & Sustainability Manager at Seanergy.
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