Norwegian bulker owner Grieg Star has founded a separate company to drive its decarbonisation efforts.
Grieg Edge, as the new offshoot is known, has already taken over the practical follow-up work generated by Grieg Star's participation in the Zero Emission Energy Distribution at Sea (ZEEDS) sustainability initiative with five other Nordic companies.
Grieg Star said the unit has also started developing several new projects to identify and develop new business opportunities within shipping and related maritime segments.
"Shipping has prided itself on being the most environmentally friendly way of transporting cargo," said group chief executive Matt Duke.
"It is time to take it further. Industry disruption, climate change and shifts in customer behaviour demand a new approach."
Duke added the company will continue to work on innovation with Gearbulk, its partner in open-hatch bulker pool venture G2 Ocean.
Solving society's problems
But the CEO also sees "a multitude of challenges" beyond its core operations that require new sustainable solutions.
"These solutions will both have a positive environmental effect, but also serve as a catalyst to new business models and developing our group competencies," he said.
"We are confident that Grieg Edge will be able to solve several of the problems our industry and society face today."
Grieg Edge is headed by Nicolai Grieg, former head of finance at Grieg Star.
"It has been vital for us to make the organisation as lean as possible. At the same time, we have a lot of competence and know-how in the Grieg Group. We will utilise that to the fullest," he said.
Nicolai Grieg added that the company is focussing on shortsea shipping, offshore wind, energy and infrastructure, and cleaning up the seas.
Grieg Star has 28 chartered and owned vessels.
ZEEDS envisions a network of offshore platforms that use wind and/or solar power to produce, store and distribute zero-emissions fuels in a network of clean energy hubs.
