Cargill launches global CO2 Challenge to help decarbonize the shipping sector

GENEVA, June 28, 2018 /PRNewswire/ -- Today, Cargill launches the "CO₂ Challenge" which aims to find and scale new technologies capable of reducing a ship's gross CO₂ emissions by ten percent. The initiative, focused on decarbonizing the shipping sector, is being launched in partnership with DNV GL, the global quality assurance and risk management company and Rainmaking, a company which specializes in start-up accelerators, co-working projects and innovation partnerships.

All businesses and entrepreneurs who have a product in need of commercial assessment, testing, investment and scaling can apply to participate in the CO₂ Challenge immediately, with an application deadline of September 17, 2018.

"The CO₂ Challenge is the start of an exciting journey. By taking this innovative approach, we hope to uncover new technologies, new ideas and new ways of working to help our industry meet the challenge of decarbonization and reduce its impact on global warming. Applicants have a unique opportunity to see their product make it onto a vessel and, hopefully, into wider commercial production," said Jan Dieleman, president of Cargill's ocean transportation business.

DNV GL will provide its world-leading technical expertise throughout the project, helping to conduct thorough assessments of the technologies proposed and modeling potential efficiency gains. Cargill adds trading and operations experience and expertise to the Challenge, as well as extensive relationships in the ship financing and ownership sectors.

"The IMO strategy for carbon reduction sets a clear target for shipping. Initiatives like the CO₂ Challenge are an important part of helping our industry reach these ambitious but achievable goals," says Trond Hodne, senior vice president, sales & marketing director at DNV GL - Maritime. "As an industry, we need to explore solutions like zero-carbon fuels, energy efficiency measures, efficient vessel designs, and better ship utilization backed by deep technical knowledge, solid data and analysis. We look forward to working with Cargill and the applicants to realize these goals."

In its 2017 corporate responsibility report, Cargill affirmed its commitment to improving the sustainability of its global dry bulk shipping operations and help lead the maritime industry to a sustainable future. Cargill aims to reduce its CO₂ per cargo-ton-mile by 15 percent by the end of 2020.

"Cargill is confident we will meet our CO₂ commitments. This Challenge is focused on extending that commitment and ability across the industry," said Dieleman.

Interested parties should visit the CO₂ Challenge website www.co2-challenge.com. Applications and rules are available on the site. Cargill and DNV GL set strict entry criteria to ensure all entries can be fairly and accurately assessed.

About Cargill

Cargill's 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive.

We combine 153 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture. For more information, visit Cargill.com and our News Center.

About Cargill Ocean Transportation

Cargill's ocean transportation business is a freight-trading business which provides bulk shipping services to customers across the globe. Since 1956, Cargill has combined first-class operations with expert trading in both physical and financial freight markets.

About DNV GL:

DNV GL is a global quality assurance and risk management company. Driven by our purpose of safeguarding life, property and the environment, we enable our customers to advance the safety and sustainability of their business. Operating in more than 100 countries, our professionals are dedicated to helping customers in the maritime, oil & gas, power and renewables and other industries to make the world safer, smarter and greener

About DNV GL ? Maritime

DNV GL is the world's leading classification society and a recognized advisor for the maritime industry. We enhance safety, quality, energy efficiency and environmental performance of the global shipping industry ? across all vessel types and offshore structures. We invest heavily in research and development to find solutions, together with the industry, that address strategic, operational or regulatory challenges. For more information visit www.dnvgl.com/maritime

About Rainmaking

Rainmaking creates positive change through entrepreneurship. We are a global cooperative of entrepreneurs who run startups and innovation programs in more than 40 countries with a global team of 400+ entrepreneurs, strategists, product experts, developers, designers and investors. Our global network provides us with first-hand access to innovative startups and early-stage companies in every major startup ecosystem worldwide. And we are still founders at heart. To date we have founded 25 companies based on our own ideas and seed funded them ourselves. Followed up with 20m+ EUR from external investors. For more information, visit rainmaking.io. 

SOURCE Cargill