Norway-based ECOsubsea, a hull cleaning specialist, announced that it has secured $12M in a Series B round of funding led by the Blue Ocean fund managed by French sustainable investor SWEN Capital Partners.
The company says it will use the funds to advance its eco-friendly hull cleaning services in the shipping industry.
With this recent fund injection, the company is also poised to scale up its operations and offer sustainable hull-cleaning solutions worldwide.
ECOsubsea’s innovative approach is expected to play a pivotal role in reducing the environmental impact of the shipping industry while maintaining competitiveness in the global market.
Biofouling refers to the unwanted accumulation of various organisms, such as plants, algae, or small aquatic animals and other microorganisms, on vessels’ surfaces. This phenomenon generates over 100 million tons of CO₂ and costs the shipping industry $20B annually, while invasive alien species contribute to $423B (€401.35B) in global costs and 60 percent of species extinctions each year.
It is a long-standing challenge in the marine shipping industry that extends beyond disrupting oceanic transportation, posing various issues. It can lead to corrosion as organisms adhere to surfaces. Moreover, the removal process often damages protective coatings, accelerates corrosion, and sometimes uses harsh chemicals.
ECOsubsea’s advanced technology allows for closed-loop hull cleaning, effectively removing biofouling while preventing pollution of marine ecosystems with non-native organisms, toxins, and microplastics. The shipping industry relies on biofouling removal through hull cleaning to enhance vessel performance, fuel efficiency, and emission reduction.
ECOsubsea deploys submerged robotic systems that act as ‘vacuum cleaners’ on a ship’s hull, removing biofouling and collecting debris in a closed-loop process.
The technology has been tested on over 1,000 vessels in regulated ports, servicing various shipping sectors. Since 2012, ECOsubsea’s eco-friendly services have saved over 2.3 million tons of CO₂, preserved marine ecosystems by removing 100,000 kg of biofouling, and helped ship owners conserve more than 382 million tons of Heavy Fuel Oil (HFO).
Read more on Tech Gist Africa:
