Shell and Saudi Aramco-backed technology firm Daphne Technologies has split its sulphur and carbon abatement activities into a new spin-off.
The Swiss company has created Daphne Solutions which will continue to develop and sell its sulphur removal and CO2 management solutions to industrial and shipping customers.
Its methane slip abatement solution and emissions measurement tools will remain in Daphne Technology. Both companies will have the same owners.
Daphne Technology founder and chief executive Mario Michan said: “We are launching Daphne Solutions to better serve our customers with a dedicated focus on creating value from emissions.
“The new entity will focus on delivering circular economy solutions that help industries convert emissions into valuable resources while minimising their environmental impact.”
Earlier this year, Daphne Technology secured approval in principle from Lloyd’s Register for its plasma catalytic technology. This is a key part of the company’s SlipPure solution it is selling as a methane abatement system that can be retrofitted on LNG-fuelled vessels.
Methane slip is the unburned fuel that passes through the combustion process and into the atmosphere. Critics of LNG as a fuel cite methane’s climate warming effect which is 84 times greater than CO2 over 20 years.
Daphne Technology’s investors also include AET, the oil tanker division of MISC Berhad and commodities giant Trafigura.
The company, as well as MISC, Shell and Lloyd’s Register are all members of the Methane Abatement in Maritime Innovation Initiative.
