Fuel Essence offers a unique data-driven optimization platform and fuel and oil technology to supercharge the performance of ships and heavy machinery. Their holistic approach is designed to deliver a multitude of benefits, including:
▪️ Reducing Fuel Consumption and GHG emissions: achieve impressive fuel savings and associated GHG emissions of up to 20%.
▪️ Slashing Harmful Emissions: contribute to a cleaner planet with emission reductions of up to 70%.
How do they do it? Fuel Essence collects data directly from engines, maritime and propulsion systems, auxiliaries and on board systems, providing accurate insights to optimize asset performance. This data-driven approach leads to increased availability, reduced maintenance costs, and extended asset lifespans.
But that’s not all! Fuel Essence’s SU|MO platform goes beyond fuel optimization. It also supports performance and CRSD & (EU-)MRV reporting and can track emissions, even when alternative fuels, fuel additives or biofuels are in use.
Their impressive track record includes successful pilot projects with renowned vessels, achieving remarkable fuel savings and emission reductions.
In addition to their SU|MO Sustainable Motion Platform, Fuel Essence offers an alternative fuel and oil technology known as FE³ Elixir, which has been trusted for over 30 years in specific markets. This eco-friendly solution has undergone third-party testing to validate its effectiveness, ensuring it meets the highest industry standards.
Fuel Essence, acknowledged as one of the 21 Rising Stars, will be a highlight at the Europort fair from the 7th to the 10th of November in Rotterdam. Catch them proudly displayed in the Rising Pavilion at stand 4314. Don’t pass up this opportunity to experience their solution!
Want to know more? www.fuelessence.com
1. What is your start-up’s mission and vision in the maritime industry?
Our mission: to make the economic and emission performance of ships more sustainable.
Data-driven actionable insights and technology to improve and report the performance, efficiency and sustainability of vessels, fleet and operations
2. How does your company differentiate itself from competitors in the maritime industry?
Proven technology from other sectors such as automotive, process and aerospace industry are modified for maritime applications quickly, at low cost and without risk.
With advanced technology, all relevant data are unlocked. Easy-to-mount sensors are placed for collecting missing data.
SU|MO Maritime Insights and FE³ Elixir are affordable for any type of vessel, regardless of its size, type, age and function.
By using widely supported open-source software, solutions and applications are developed fast, effectively, and therefore cost-efficiently.
With in-house developed and proprietary software, data is processed into valuable information that is reported automatically as desired.
Evolution of Cooperation – We believe that the solutions to some of the most pressing challenges can be found through cooperation at the intersection of different technologies and companies. When organizations cooperate, they can accelerate the development and scaling of applications, achieving greater speed and efficiency.
3. What is your start-up’s approach to sustainability and environmental responsibility in the maritime industry?
Fuel consumption largely determines ship emissions. By reducing fuel consumption, not only emissions but also costs are reduced. Fuel Essence provides the information and products to effectively reduce fuel consumption. In addition, organizational efficiency is increased by automated reporting of necessary and (legally) mandatory information e.g. emission reports.
4. How do you anticipate the growth and potential of your start-up in the maritime industry in the coming years?
Not even 1% of all ships meet the long-term emission reduction targets set by FuelEU Maritime and IMO. In addition, ship operators and ship owners are required to periodically improve and report the performance of their vessels and fleets. Most of the vessels is older than 20 years and ship performance data is often limited and not available at consolidated fleet level.
Our ability and approach to provide data-driven actionable insights and technology that improves and reports the sustainable performance of any vessel of any age, will help ship operators and owners to manage the challenges the industry is facing, now and in the future.
5. Can you share any success stories or notable achievements your start-up has had so far in the maritime industry?
In close cooperation with launching customers and technology partners Fuel Essence succeeded in developing the SU|MO platform in only 2 years and demonstrated more than 8% reduction of fuel consumption and associated emissions of FE3 Elixir.
6. What are some of the main challenges your start-up has encountered in the maritime industry, and how have you overcome them?
Due to the limited availability of vessels for on-board installation work, new installation methods have resulted in significant installation time and cost savings.
7. What are your long-term goals and vision for your start-up within the maritime industry?
Within five years, Fuel Essence wants to be among the top 4 companies that support the sustainability of inland shipping and coastal shipping in Europe with data-driven optimization.
8. Why did you apply to be a Rising Stars and what do you expect of the Rising Stars Pavilion and Europort?
Mirroring our current proposition with the sectors we want to serve and exploring new markets and applications.