Scorpio Tankers collaborating on onboard carbon capture

Carbon Ridge is a US-based startup working to commercialise existing gas separation technology without the need for large structural modifications. The agreement addresses the collaboration for detailed front-end engineering, design, and validation process with a small-scale test unit onboard one of the company’s vessels.

Emanuele A. Lauro, Chairman and Chief Executive Officer of Scorpio Tankers, said, “We are pleased to partner with Carbon Ridge and assist in their efforts to reduce the carbon footprint of maritime transportation. In light of the myriad questions regarding alternative fuels, we feel that onboard carbon capture presents a viable path to decarbonization for large segments of our industry.”

Chase Dwyer, Chief Executive Officer of Carbon Ridge, added, “With a recent push towards well-to-wake accounting for emissions, truly low-carbon alternative fuels will be in limited supply for the foreseeable future. We believe carbon capture will provide the most cost-effective solution to meet IMO decarbonization targets for the benefit of all stakeholders. We value Scorpio Tankers as our anchor customer and look to their decades-long operational and technical experience to strengthen our product offerings.”

Scorpio Tankers currently owns, lease finances, or bareboat charters-in 124 product tankers (42 LR2 tankers, six LR1 tankers, 62 MR tankers and 14 Handymax tankers) with an average age of 6.2 years. The company has recently entered into agreements to sell 11 of these vessels (six LR1s, three MRs, and two LR2s), which are expected to close before the end of the third quarter of 2022.

A growing number of technology options are being explored for onboard carbon capture, but the space penalty they carry means regulation may be key to adoption.