Yinson launched its Green Technologies Division at the Singapore Maritime Technology Conference (“SMTC”) 2021 today, marking the Group’s foray into technology sectors that drive the global transition to a net carbon-zero future.

During the event, Yinson is showcasing a concept model of the Hydroglyder, a harbour craft equipped with advanced hydrofoil technology, enabling the craft to fly above water, greatly reducing water resistance and thereby increasing energy efficiency. The all-electric Hydroglyder represents the most economical and environment-friendly option for light harbour crafts.

Simulations show that the Hydroglyder can reduce energy costs by up to 90% while achieving cruising speeds of 25 knots and provide superior comfort for the passengers. The hydrofoil technology used by the Hydroglyder is developed by Lift Ocean AS, a Norwegian start-up tech company which Yinson has invested in.

Yinson Group Executive Vice President, New Ventures and Technology, Eirik Barclay highlighted that Yinson is working with local suppliers and partners to build a strong ecosystem for such technologies and operations in Singapore.

“Our Green Technologies Division is headquartered in Singapore – home to the second busiest port in the world. As a socially responsible business, our primary focus lies in driving decarbonisation efforts within the region’s maritime segment,” said Eirik, adding that the team is also investing into clean energy initiatives within the transport and energy business segments.

On 22nd April, the final day of the SMTC, Eirik will be participating as a panel speaker for the ‘Harbour Craft – Electrification & Digitalisation’ session, where topics surrounding the research and development, design, current challenges, business models and commercial viability of marine harbour craft electrification will be discussed.

Green Technologies is Yinson’s newest business division, established in September 2020 to sit alongside the Offshore Production, Renewables and Offshore Marine Divisions.

Yinson Group Chief Executive Officer Lim Chern Yuan said that the establishment of the Green Technologies Division is in line with the Group’s commitment to reducing carbon emissions, improving climate resilience, and accelerating the global transition to a low carbon economy.

“With Green Technologies now complementing our other three business divisions, we believe that we can unlock greater synergies that can strengthen the sustainability of our businesses and enhance value for our stakeholders,” he said. He added that the move is also in line with the Group’s commitments to the UN Sustainable Development Goals and targets to be carbon neutral by 2030 and net zero by 2050.

SMTC runs from 19 to 22 April 2021 and is being held at the Expo and Convention Center at Marina Bay Sands, with online streaming available via a virtual event platform. Organised by the Maritime and Port Authority of Singapore (“MPA”) and an anchor event of Singapore Maritime Week 2021, SMTC aims to bring together the rapidly expanding maritime ecosystem with a focus on technology trends, their commercial applications, emerging research and development, and digitalisation.

For more info on the conference, visit www.smtcsingapore.com