SHIPTECH 2020 REPORT REVEALS THE SCALE OF VENTURE FUNDING INVESTED IN MARITIME LAST YEAR


According to the Shiptech 2020 report, over $1bn was invested in technology companies working in the maritime sector in 2019.


The Shiptech 2020 report, published by technology research and innovation consultancy Thetius, found that 2019 was a record year for venture capital investment in the maritime sector. However, the headline figure is distorted by the massive $1bn investment in Flexport,


led by Softbank’s Vision Fund. If Flexport’s contribution is removed from the figures, venture funding in the industry actually declined by 24%, from $190m in 2018 to $144m in 2019. Overall, 8% fewer deals were made through the year compared with 2018, though the average size of deals has increased by 18% from $2.2million to $2.7million in 2019.


“The fall in the number of investments coupled with the increased average size of each round shows that the market is at the early stages of maturing,” said Nick Chubb, founder of Thetius and author of the report, “after years of seed and small venture rounds dominating funding activity, a few breakout stars are beginning to scale and have enough traction to warrant taking significant amounts of investor money.”


As well as an overview of venture activity, the Shiptech 2020 report examines startup activity throughout 2019 including the notable investments made throughout the year, the new entrants to the market who are ones to watch, and the technology trends to be aware of in 2020.


WHAT NEWS OF THE WORLD’S LARGEST ELECTRIC FERRY NINE MONTHS ON FROM ITS FIRST COMMERCIAL VOYAGE?


In August 2019, Leclanché (battery system provider) announced the world’s largest electric ferry had completed its first commercial voyage when Ellen connected the ports of Søby and Fynshav in Denmark.


Nine months on, Halfdan Abrahamsen, an information officer from Ærø EnergyLab, tells the BBC: “Ferry shipping in general is very dirty business.” Ships usually use marine diesel or heavy fuel oil, “which is just about the bottom of the food chain when it comes to product from refineries”. But he says, the only oil onboard Ellen is for the gearbox and in the kitchen for making French fries.


Powered entirely by batteries, Ellen is something of a Tesla among ferries. Fully charged, the 60m vessel can sail 22 nautical miles with up to 200 passengers and 30 cars onboard. That’s a roughly 40km (25-mile) round-trip, and seven times further than other electric ferries.


The 840 lithium-ion batteries supplied by Swiss firm Leclanché, are stacked from floor to ceiling in two battery rooms.


Totalling 4.3MWh, this is the largest battery capacity at sea and equivalent to the average amount of electricity a UK household consumes each year.


After a 70-minute voyage, Ellen arrives at the harbour in Søby and moors alongside the charging station. A mechanical arm plugs in and recharges the batteries in less than 25 minutes with clean energy supplied by local wind turbines.


Ellen is not fully operational just yet, and it hasn’t all been smooth sailing. Building a boat with so many batteries is complex and since being launched some battery cells have been replaced, says the BBC.


Read the full article at https://bit.ly/2S2rbez Image courtesy of Adrienne Murray


The Report • March 2020 • Issue 91 | 9


Marine News


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