Perlin Joins Rainmaking and Cargill Initiative to Decarbonise the Maritime Industry
Perlin has joined a growing alliance of global shipping companies for a pioneering industry decarbonisation program based in Singapore but open to startups worldwide. Partners include major maritime industry players such as Cargill, DNV GL, Hafnia, Mitsubishi Corp subsidiary MC Shipping, Vale, and Wilhelmsen, with the support of the Maritime and Port Authority of Singapore (MPA) and Enterprise Singapore.
As an enterprise blockchain trade-tech firm, Perlin is already working closely with the International Chamber of Commerce (ICC) and Singapore government to lead digitisation in the USD $11 trillion commodity trade industry with its ICC TradeFlow platform. With over a decade of experience in the rapidly growing carbon industry, the Perlin team is now also joining global efforts to radically reduce emissions across industries. As an ecosystem partner for the decarbonising shipping program, Perlin will directly support the development, adoption, and scaling of new technologies to drastically reduce greenhouse gas emissions (GHG). CEO of Perlin Dorjee Sun, has now been appointed as an advisor and mentor for the Rainmaking program.
“Shipping is the backbone of all global trade as the most efficient and economical means to transport mass cargo. However, shipping already accounts for 2% of GHG emissions, which may increase by 50–250% by 2050 if no action is taken. The Rainmaking program is a perfectly timed opportunity for all industry players to step up efforts for decarbonisation, from innovating startups like Perlin to established global giants like Cargill.” said Dorjee.
As the first of its kind in Asia, the decarbonisation initiative will bring together industry leaders and innovative start-ups to develop, test and scale transformational technologies for reducing CO2 emissions. The program is part of the larger global Trade and Transport platform initiated and coordinated by prominent venture development firm Rainmaking. The platform has already vetted more than 1,200 start-ups and hosted two cycles in Europe resulting in 24 collaboration projects between start-ups and corporate leaders.
The International Maritime Organization (IMO) has set ambitious targets to reduce GHG emissions in shipping by 50% in 2050. By connecting rapid tech innovation with the scale and funding of established corporate players, the Singapore program will play a critical role in helping the industry to meet the IMO’s decarbonisation targets. The Rainmaking program expects to identify another 1,000 start-ups across Asia and match them with corporate leaders to deliver over 100 scalable pilots and ventures for immediate and longer-term decarbonisation impact and return on investment.
“We believe that true disruption will be enabled by tech startups and serial entrepreneurs. In tackling the decarbonisation agenda, we will bring together disruptive startups and entrepreneurs with the scale, capability and reach of global industry giants, in order to create game-changing solutions with exponential impact and scale them on within an extremely short horizon during the program,” said Michael Pomerleau, partner and investor at Rainmaking.
Participation by corporate leaders will ensure promising new emissions reduction technologies can access the critical support needed for investment, piloting and scaling.
“We know that Asia is a gateway to a wealth of tech innovation and we need to tap into this. We also know that our industry faces a huge challenge to decarbonise emissions and drive digitalisation. By connecting creative and talented thinkers with industry leaders at one of the world’s busiest ports and digital hubs, we will be able to convert transformational ideas into real opportunities,” said Ying Ying Lim, APAC Managing Director for Cargill Ocean Transportation.
