Two of the leading maritime technology venture builders have today announced a partnership to jointly develop new technology start-ups for the industry.Signal is taking a stake in the German venture studio Flagship Founders and will contribute data and APIs from its Signal Ocean platform to help accelerate new venture development. The partnership includes a total investment volume of €2.5 million and complements the €3.5 million funding round Flagship Founders closed earlier this year.
Signal is an Athens, London & Singapore based business which runs commercial tanker pools, has developed a leading AI software platform, and provides investment to early-stage ventures. Its venture building and investment arm Signal Ventures has to date supported 15 start-ups in the shipping, supply chain and commodities space. AI analytics firm OilX, Signal’s first start-up incubated through its venture studio, was sold to Energy Aspects in January this year.
Berlin-based Flagship Founders, in turn, is a leading European venture studio focusing on maritime technologies, logistics, and shipping. Flagship Founders has already produced four successful start-ups since it was founded three years ago. Most recently, Flagship Founders venture zero44 announced a financing round with participation from Atlantic Labs, among others.
"We are very excited about the partnership. Flagship Founders and Signal share the same view of the maritime economy and the success factors for building technology startups," explains Fabian Feldhaus, Co-Founder and Managing Director of Flagship Founders. "We also complement each other perfectly: Signal are one of the most innovative maritime technology players and cover the whole spectrum from commercial and operational to VC investment and corporate venture building. Whereas we bring a startup background, have proven our skills in building scalable business models with clear customer benefits, and are very well-connected in Germany. In combination, this results in a big win for both sides."
By bringing their respective strengths into this strategic partnership, Signal and Flagship Founders will build new technology start-ups for global shipping more quickly and efficiently. Signal Ocean's comprehensive data platform will play an important role in the development and scaling of ideas. The companies also expect the partnership to provide mutual support in the areas of regional network access, sector-specific expertise, and talent acquisition.
Nikolas Pyrgiotis, VP of Ventures at Signal,is also convinced of the mutual benefit of the partnership: "The maritime ecosystem is global, but startup ecosystems are mostly local and tend to operate in silos. Coalitions like this are important to gain access to new investment opportunities and complement expertise and network reach. We believe that the shipping and technology depth of Signal coupled with data from The Signal Ocean Platform will accelerate the development of Flagship Founders’ventures and together we will advance venture building for maritime technology start-ups worldwide."
About Signal
Signal’s vision is to make global shipping more efficient, effective and profitable through the application of technology and market experience. Our passion for applied science and technology and our understanding of the complex shipping business continues to open up new opportunities.
We achieve success through collaboration, research and investment. In just a few years we have built a huge maritime tech ecosystem by combining cutting-edge data science with deep shipping market experience. The engine which drives our Signal Ocean Platform applies artificial intelligence and algorithms to clients'unstructured data. It provides them with a customised and personalized view of the tanker, dry bulk and container markets. We help ship brokers, owners and charterers achieve extraordinary performance by taking care of the mundane and computationally complex.
This data-led approach powers our commercial tanker pools, Signal Maritime, enabling our chartering team to outperform its peers. At the same time, we are investing in the future by supporting early-stage technology startups and entrepreneurs in the shipping, logistics and commodities space through Signal Ventures. Our diverse and fast-growing team of product engineers, computer scientists, and commercial shipping professionals is based in Athens, London and Singapore.
www.thesignalgroup.com
About Flagship Founders
Flagship Founders is the founding partner for startups in maritime technology, logistics, and shipping. Launched in May 2020,the Berlin-based company works with ambitious founders to build scalable businesses with digital product solutions. The aim is to introduce pioneering technologies and innovation to shipping and help shape the industry’s future.To deliver successful results Flagship Founders provides ongoing support, from a successful creative process through company founding and financing right up to an exit. In addition to a wealth of expertise in the startup and company building sector, the Flagship Founders team has access to a first-class network and specialist shipping knowledge. Find out more at www.flagshipfounders.de
Press Contact FlagshipFounders:
Darja Koehne
d.koehne@flagshipfounders.de
+49 (0)176 311 48 514
Press Contact Signal:
Bill Lines
blines@navigatepr.com
+44 (0)7970 730521
Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
Increased Use of Renewable Energy:
Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.
Collaboration and Industry Partnerships:
Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.
To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.
Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.
Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.
Creating a sustainable world requires us to embark on a journey towards a zero emission future, where every step is a commitment to preserve our planet for future generations.
Albert Greenway
Environmental Scientist, Sustainability Expert
Increased Use of Renewable Energy:
Shipping companies are embracing renewable energy sources to power onboard systems and reduce emissions during port operations. Solar panels and wind turbines are being installed on vessels to generate clean energy, reducing reliance on auxiliary engines, and cutting down emissions. Shore power facilities in ports allow ships to connect to the electrical grid, eliminating the need for onboard generators while docked.
Collaboration and Industry Partnerships:
Recognizing that addressing emissions requires collective action, shipping companies, governments, and organizations have formed partnerships and collaborations. These initiatives focus on research and development, sharing best practices, and promoting knowledge transfer. Joint projects aim to develop and deploy innovative technologies, improve infrastructure, and create a supportive regulatory framework to accelerate the industry's transition towards a greener future. The Zero Emission Shipping - Mission Innovation.
To pave the way for a greener future in shipping, the availability of alternative fuels plays a vital role in their widespread adoption. However, this availability is influenced by factors such as port infrastructure, local regulations, and government policies. As the demand for cleaner fuels in shipping rises and environmental regulations become more stringent, efforts are underway to improve the accessibility of these fuels through infrastructure development, collaborations, and investments in production facilities.
Liquefied Natural Gas (LNG) infrastructure has seen significant growth in recent years, resulting in more LNG bunkering facilities and LNG-powered vessels. Nonetheless, the availability of LNG as a marine fuel can still vary depending on the region. To ensure consistent availability worldwide, there is a need for further development of LNG supply chains and infrastructure. For biofuels, their availability hinges on production capacity and the availability of feedstock. Although biofuels are being produced and utilized in various sectors, their availability as a marine fuel remains limited. Scaling up biofuel production and establishing robust supply chains are imperative to ensure wider availability within the shipping industry.Hydrogen, as a fuel for maritime applications, is still in the early stages of infrastructure development. While some hydrogen vessels have been tested or introduced in the first quarter of last year, the infrastructure required for hydrogen production and distribution needs further advancement.
Ammonia, as a marine fuel, currently faces limitations in availability. The production, storage, and handling infrastructure for ammonia need further development to support its widespread use in the shipping industry.Methanol, on the other hand, is already a commercially available fuel and has been used as a blend with conventional fuels in some ships. However, its availability as a standalone marine fuel can still be limited in certain regions. Bureau Veritas in October 2022 published a White Paper for the Alternative Fuels Outlook. This white paper provides a comprehensive overview of alternative fuels for the shipping industry, taking into account key factors such as technological maturity, availability, safety, emissions, and regulations.
