Business & Finance
Maritime startup Newlight raises $9 million for hydrogen-injection retrofit technology
The company's system, designed to reduce fuel consumption and emissions in cargo ships, recently completed an 8,500-nautical-mile commercial test voyage.
The short version
- San Francisco Bay Area startup Newlight has developed a hydrogen-injection retrofit system for cargo ship diesel engines to improve efficiency and reduce carbon emissions.
- The system, which can be installed in under two weeks without dry-docking, reportedly cut fuel consumption by 24% and carbon dioxide emissions by 28% during an 8,500-nautical-mile test voyage on a Lomar Shipping bulk carrier.
- Newlight secured a $9 million seed funding round and has signed agreements to deploy its technology on 12 vessels across multiple companies.
Key facts
- Newlight's retrofit system constantly monitors diesel engine parameters, such as combustion pressure and air intake pressure, to inject compressed hydrogen fuel at millisecond intervals.[TechCrunch]
- The startup claims its system can be retrofitted onto ships in less than two weeks without requiring a dry dock, potentially saving some vessels up to $500,000 in annual costs.[TechCrunch]
- During a commercial test voyage from Singapore to Ghana on a 650-foot-long Lomar Shipping vessel, the system reduced fuel use by 24% and CO2 emissions by 28%, according to the startup.[TechCrunch]
- Newlight raised a $9 million seed round with participation from lomarlabs, BIRD Energy, Undeterred Capital, CiRi Ventures, and Fusion VC.[TechCrunch]
- The company has signed agreements to install the technology on 12 vessels, with plans to roll out across broader fleets next year.[TechCrunch]
What remains uncertain
- The long-term performance, durability, and safety of the system across diverse fleets and under varied operating conditions remain to be demonstrated outside of lab settings and the initial single-vessel commercial test.[TechCrunch]