Emerson invests in Frugal Tech for shipping fuel efficiency
Emerson, a global leader in automation technology and software, announced its strategic investment in Frugal Technologies, a Danish company specialising in fuel optimisation technologies for shipping fleets. This investment complements Emerson's expertise in fuel management and propulsion control within its marine systems and solutions business.
Fuel consumption, accounting for about 60% of operating costs across various vessel types, is a significant concern in the shipping industry. Frugal's innovative cloud-based propulsion optimisation software leverages AI technology to analyse dynamic conditions like weather, cargo load, and propulsion. This data helps develop optimal engine models for ships, potentially reducing fuel consumption by up to 15% and lowering carbon footprints.
Peter Hauschildt, co-founder and CEO of Frugal Technologies, emphasised the solution's dual benefits: "Our technology addresses two major market challenges—optimising energy use to cut fuel costs and aiding ship owners in meeting stricter emission targets. Our collaboration with Emerson enhances our ability to support fleet performance leaders in managing fuel expenses and achieving sustainability goals."
The partnership arrives at a time when new global environmental regulations are spurring innovation in sustainable shipping practices. The International Maritime Organization (IMO) has set ambitious goals to reduce the carbon intensity of international shipping by at least 40% by 2030 and 70% by 2050.
Jon Stokes, group president of Emerson, highlighted the alignment of Frugal Technologies' mission with Emerson's commitment to sustainability. "Our shipping customers seek the best fuel consumption data for informed decision-making. Frugal's technology, combined with our solutions, offers a unique value proposition for fuel optimisation," he said.