In the News

Yinson GreenTech launches marinEV and signs MOUs with Wilhelmsen Ships Service, OPL Services, Mencast Marine and Zeabuz

MOU with Wilhelmsen Ships Service (S) Pte Ltd to trial using YGT’s electric vessels to deliver marine supplies to anchorage and to collaborate on digitalising marine logistics processes.

MOU with harbour craft operators, OPL Services Pte Ltd and Mencast Marine Pte Ltd to be trial operators for YGT’s newbuild electric vessels.

MOU with Zeabuz AS to develop autonomous technology for electric vessels.

Yinson GreenTech (“YGT”, or the “Company”), the business unit that provides green technology solutions under Yinson Holdings Berhad (“Yinson”), has unveiled a new brand for its marine business that aims to encapsulate the Company’s vision and mission to deliver a clean and integrated technology-enhanced ecosystem that will support the maritime industry’s transition to net zero.

The new “marinEV” brand was launched today at the Singapore Maritime Week 2023 and reflects YGT’s strong commitment to the electrification and decarbonisation of the maritime industry. The Company’s existing products that will come under the new brand include its two electric harbour crafts – Hydroglyder and Hydromover, and it will also be applied on all future marine products launched by the Company.

Chief Executive Officer of YGT, Mr Eirik Barclay said, “With our marine offerings recognised under the brand marinEV, we are able to position ourselves favourably as one of the leading players in this space.  We believe it strengthens our proposition and we aim to make marinEV synonymous with green maritime technology.”

Mr Kenneth Lim, Assistant Chief Executive (Industry & Transformation), Maritime and Port Authority of Singapore said, “We are excited to see Yinson Green Tech accelerating its vessel electrification journey with the unveiling of the “marinEV” brand, and we look forward to the launch of green maritime technology and newbuild electric vessels under the new brand. Close collaboration with harbour craft stakeholders is essential to meeting Singapore’s commitment to achieve net zero emissions by 2050, and MPA will continue to work with likeminded partners to drive R&D innovation and support commercialisation of green technologies for the maritime sector.”

In conjunction with the launch of marinEV, YGT has inked several Memorandums of Understanding (“MOUs”) with key players in the industry. These collaborations seek to contribute to the development of an ecosystem that will encourage local ship operators to transition fully to electric vessels. The aim of these collaborations is to accelerate the transition of Singapore’s maritime industry in line with the country’s goals that require all new harbour craft to be fully electric, be capable of using pure biodiesel (B100), or be compatible with net-zero fuels such as hydrogen by 2030 and to achieve net-zero emissions by 2050.

MOU with Wilhelmsen Ships Service (S) Pte Ltd

Under the MOU with Wilhelmsen Ships Service (S) Pte Ltd (“WSS”), YGT will work with WSS to use the Company’s Hydromover, operated by OPL Services Pte Ltd (“OPL”), for movement of marine supplies to and from ships in Singapore’s anchorage.

At the same time, WSS has also offered its current waterfront facility for YGT to evaluate the potential berthing and swapping of batteries for the electric vessels.

Mr Barclay says, “We are thrilled to partner with WSS in our mission to revolutionise Singapore’s maritime industry. Our joint efforts, together with our other ecosystem partners, demonstrate that we have all the pieces required for a sustainable and comprehensive ecosystem to accelerate the adoption of electric vessels. We aim to provide a viable and practical option for harbour craft operators and owners to reduce their carbon footprint in line with regulatory requirements.”

Area Operations Director, Southeast Asia & Oceania, of Wilhelmsen Ships Service Mr Henning Hagemann says, “Working with YGT to operationalise their fully electric harbour craft is a great opportunity for us to advance towards our net zero emissions goal within our operations. The partnership is a good start to utilising cleaner energy in logistic and supply chain operations in Singapore and beyond.”

MOU with harbour craft operators, Mencast Marine Pte Ltd and OPL Services Pte Ltd

YGT has also signed MOUs with Mencast Marine Pte Ltd (“Mencast”), and OPL Services Pte Ltd (“OPL”) to lease them the Company’s newbuild electric vessels to provide marine services such as marine supplies deliveries and crew change. These MOUs represent an expression of interest by Mencast and OPL to include the electric vessels into their fleet after successful trials. As part of the trials, both Mencast and OPL have agreed to provide necessary feedback for further enhancements in operational profiles.

MOU with Zeabuz AS

In addition to the aforementioned MOUs, YGT has signed an MOU with Zeabuz AS (“Zeabuz”) to offer maritime autonomous solutions across the region.  This will include developing autonomous technology for electric vessels that will enhance the safety and efficiency of operations while enabling entirely new mobility concepts such as urban waterborne mobility with reduced crew.

YGT is a strategic investor in Zeabuz, which is a start-up that has developed a proprietary autonomy platform that is scalable, certifiable, and suitable for both new designs and retrofit of existing vessels. Their business model is to provide autonomy-as-a-service to operators of smaller vessels.