KUALA LUMPUR (Aug 16): The Singapore government has awarded funding to a consortium that includes Yinson Holdings Bhd to develop and commercialise a fully electric cargo vessel with interoperable swappable battery infrastructure solutions for the Port of Singapore.

The Goal Zero consortium is one of three consortiums that have received grants from the Maritime and Port Authority of Singapore (MPA) and Singapore Maritime Institute (SMI), Yinson said in a statement.

The three consortiums, it said, will embark on the research, design, building and operations of fully electric harbour craft over the next five years. The electrification pilot projects will demonstrate both commercial and technical viability of specific use cases for fully electric harbour craft.

The other two grant winners are consortiums led by Keppel FELS Ltd and Sembcorp Marine.

Goal Zero is led by Singapore-based marine design engineering outfit Seatech Solutions International Pte Ltd, which will develop the vessel’s design and system integration.

Meanwhile, Yinson’s wholly-owned unit Yinson Green Technologies Pte Ltd will spearhead Goal Zero’s overall programme management and commercialisation.

“The consortium is joined by Sterling PBES Energy Solutions as battery technology partner, Rina Hong Kong Ltd Singapore Branch as classification society, Singapore Institute of Technology and Technology Centre for Offshore and Marine Singapore as institutes of higher learning and research institutes developing the digital twin,” said Yinson.

Goal Zero is also supported by industry partners Batam Fast Ferry Pte Ltd, Bernhard Schulte (Singapore) Holdings Pte Ltd, DM Sea Logistics Pte Ltd, Marina Offshore Pte Ltd, Kenoil Marine Services Pte Ltd, Lita Ocean Pte Ltd and Jurong Port Pte Ltd, it added.

Yinson executive vice president for new ventures and technology, Eirik Barclay, said Goal Zero aims to solve some of the biggest issues faced by vessel owners and operators when it comes to the adoption of electric vessels.

“We are looking to develop a new ecosystem and business model that are significantly more sustainable for the harbour craft industry whilst simultaneously being more commercially attractive for vessel owners and operators.

“For example, swappable battery charging infrastructure could almost completely eliminate vessel charging downtime, and digital twin technology can improve efficiencies that bring down operational costs,” Barclay said.

Meanwhile, Yinson group chief strategy officer Daniel Bong commented that Yinson was looking forward to working with the other consortium members to propel the future-readiness of the region’s marine port segment.

“It is Yinson’s desire to bring about a more environmentally sustainable marine transport network in alignment with our commitments to mitigate climate change.

“With the support of the Singapore government through this grant, we are excited to take this next step in our roadmap towards achieving a globally integrated green logistics solution,” Bong said.

MPA chief executive Quah Ley Hoon said, “Electrification has the potential to accelerate the decarbonisation of our local harbour craft industry so we are pleased to support the joint industry-research consortium named Goal Zero led by Seatech Solutions Pte Ltd and its key commercial partner Yinson Green Technologies in their electric vessel project.

“This is one of the three consortiums comprising 30 enterprises and research institutions across the value chain that we are supporting under the Maritime GreenFuture Fund,” she said.

Shares of Yinson were down six sen or 1.34% to RM4.41 at midday, valuing the offshore energy vessel operator at RM4.84 billion.