Host: Jason Jacobs
Guest: Alisha Fredriksson | Co-Founder & CEO | Seabound
Category: 🌳 Carbon Capture | Capture on Ships
Podcast’s Essential Bites:
[3:46] “Seabound is a climate tech company that builds carbon capture equipment for the largest ships in the world. So we install carbon capture equipment on both existing and new ships, to capture up to 95% of their CO2 emissions at point of source, so that these ships can meet upcoming global regulations that are kicking off in 2023.”
[6:38] “The shipping industry, more broadly, is just starting to figure out how it's going to reduce its emissions. So we have these new regulations from the International Maritime Organization that start in 2023. There is new pressure from customers like Amazon, IKEA, etc, that have their own carbon neutral shipping pledges. […] We don't yet have companies that are making fuel for ships out of CO2. These companies are startups themselves, so it is a nascent industry.”
[7:45] “A lot of the potential upcoming solutions that others are working on, primarily being kind of future fuels, such as hydrogen and ammonia, are still about 10 to 20 years away from maturity. And they're only suitable for brand new ships. But we need a solution that can reduce emissions today. And we need something that's suitable for all of the existing ships that are still going to be sailing for another 25 to 30 years. So that's where I realized that we need technology that can be kind of an add on or retrofit onto the existing vessels, rather than needing to completely replace the whole fuel supply or the whole propulsion system.”
[14:56] “We're starting with the dry bulk shipping segment, because we're capturing CO2 using solids. And dry bulk ships essentially are most accustomed to dealing with solids and have the portside infrastructure for that. So that for us is the easiest way to get started. But we want our solution to be applicable for any type of vessel out there. Next we're going to do containers, for instance.”
[16:38] “We install a carbon capture reactor adjacent to the funnel or smokestack on a given ship. And we route the exhaust into that reactor. And then […] our sorbent pulls the CO2 out of the exhaust, stores it on board temporarily, until the ship gets back into port, where it's then offloaded and post-processed. And then we sell that captured CO2 for utilization such as into electro fuels, or chemicals, or for sequestration.”
[22:01] “We're loading sorbent onto a ship, so that it can capture CO2. And then we offload it when it's in port. And then we sell the captured CO2. And so we essentially sell two things. We sell the hardware, which is the carbon capture equipment to the ship owner. But then we also sell a materials subscription, where we supply the sorbent and then we take the captured CO2 off their hands. And then we share that revenue stream with the ship owner when we sell the capture of CO2.”
[31:46] “The two key steps to carbon capture is that you capture the CO2 with the sorbent and then you separate it or regenerate it from that sorbent. And what we've done to dramatically reduce CapEx by about 90% versus competitive approaches is decouple it. So we just capture CO2 on board, and then we regenerate on land. So the land base facilities are really the regeneration facilities to produce more sorbent to then put on board the ship and capture CO2 there.”
Rating: ☁️☁️☁️
🎙️ Full Episode: Apple | Spotify | Google (Original Title: "Startup Series: Seabound")
🕰️ 46 min | 🗓️ 06/02/2022
✅ Time saved: 44 min
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