Drax Group and Smart Green Shipping have joined forces on an innovative project to advance decarbonisation in the shipping industry. Drax will invest £1 million in the initiative, with matching funds from the UK Government’s Clean Maritime Demonstration Competition (CMDC). The project will develop and deploy Smart Green Shipping’s lightweight, retractable wingsail, known as ‘FastRig,’ which aims to reduce fuel consumption and emissions by up to 30% annually.
Currently undergoing sea trials on the nuclear cargo vessel Pacific Grebe, the FastRig technology is set to deliver accurate, independently verified performance data by the end of October. If successful, the next phase will involve installing the wingsail on a commercial biomass vessel, further contributing to decarbonising this challenging sector. The technology could also play a key role in lowering emissions from the bulk transport of Drax’s sustainable biomass, which provides 8% of the UK’s renewable energy.
Miguel Veiga Pestana, Chief Sustainability Officer at Drax said, “Smart Green Shipping’s technology represents a landmark moment for the maritime energy transition and Drax is proud to provide this funding, which re-affirms our commitment to becoming a carbon-negative business by 2030.”
