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The vessel emissions reduction company is seeking to raise capital on the Crowdcube platform to scale-up and commercialise its patented technologies.

Daphne Technology was launched as a spin-off from The Swiss Federal Institute of Technology, Lausanne in 2017. It has already raised €8 million from the European Union’s Horizon 2020 research and innovation programme, and other sources.

Dr. Mario Michan, Founder & CEO Daphne Technology, says the company is now pursuing its second equity round to pilot test its solutions with shipowners.

‘To help the industry achieve zero emissions, owners will have to embrace innovative technologies that enable a multi-fuel and a multi-emissions solution,’ he said. ‘

‘Our unique, patented technologies will not only help shipowners eliminate toxic and GHG emissions from all fuels, it will allow them the most flexible and economically viable path towards compliance with existing and future regulations.’

Daphne Technology has developed what it calls a ‘universal green converter’, an exhaust gas purification system which removes multiple air pollutants from different fuel types, such as Heavy Fuel Oil (HFO) which emits CO2, NOx and SOx, ammonia, which emits N2O, NH3 and LNG which emits CO2, NOx and methane.

Michan noted that the combustion of hydrogen, another alternative fuel being considered for shipping, will produce NOx. ‘The “universal green converter” can also reduce this gas efficiently,’ he said.

At present, Daphne Technology owns patents that build on proven technologies, including Dielectric Barrier Discharge (DBD) and Electron Beam Flue Gas Treatment (EBFGT), which removes toxic pollutants and GHG emissions from engine and boiler exhaust gas. The company is also active with a number of pilot projects in Norway, related to ammonia as fuel and carbon capture and storage.

The company says it is currently in discussion with three major shipping companies seeking to retrofit their LNG vessels by the end of 2022.

After undertaking a crowdfunding exercise, Daphne Technology says it will pursue an equity round targeting institutional investors, corporations and venture capital firms.

 

 

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