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Star Bulk and Eco Marine Power Commence Renewable Energy Study

03-23-2018 12:24 PM CET | Logistics & Transport

Press release from: Eco Marine Power

Star Bulk and Eco Marine Power Commence Renewable Energy Study

Joint study focused on feasibility of installing technologies associated with Aquarius MRE onto existing and new ships

Fukuoka, Japan – 21st March 2018 – As part of its continued focus on bringing renewable energy solutions to shipping, Eco Marine Power (EMP) announced today that it has signed a Memorandum of Understanding (MOU) with Star Bulk S.A. (Star Bulk) covering a joint study project focused on the feasibility of using EMP’s technologies on existing and new bulk carriers.

The joint study between Star Bulk and EMP will cover engineering issues related to how various equipment including solar panels, batteries and other devices can be installed on existing and new ships. The study will also estimate the amount of power that can be provided via renewable energy along selected routes and for specific ship types. Fuel Oil Consumption (FOC) and emissions savings will also be calculated and issues related to safety and ship operations such as cargo handling will be considered.

Teramoto Iron Works Ltd., and The Furukawa Battery Co., Ltd., will also be involved during certain stages of the study to assist with resolving issues such as best options for installing batteries on ships utilizing both customized battery frame kits and also self-contained marine battery housing modules. The self-contained marine battery housing modules are suitable for a range of battery technologies including the UltraBattery® from Furukawa Battery. This innovative hybrid battery technology has been approved for use on ships by ClassNK (Nippon Kaiji Kyokai) and is ideally suited for both land & marine renewable energy applications.

The joint study project between Star Bulk and EMP is scheduled to be conducted over a period of two years.

About Eco Marine Power

Eco Marine Power Co. Ltd. (EMP) is an internationally focused technology company that develops renewable energy based fuel saving and emission reduction solutions for ships including passenger ferries, survey ships, oil tankers and cargo vessels. These technologies include the EnergySail®, Aquarius MAS and Aquarius MRE®. EMP also develops sustainable ship concepts that incorporate the latest renewable energy technologies and is currently working on a number of design projects including Aquarius Eco Ship and Aquarius Unmanned Surface Vessel (USV). The company is based in Fukuoka, Japan. To read more about Eco Marine Power please visit: www.ecomarinepower.com

About Star Bulk

Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Select Market under the symbol "SBLK". On a fully delivered basis, Star Bulk will have a fleet of 74 vessels, with an aggregate capacity of 8.2 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt.

Eco Marine Power
Aqua Hakata 5th Floor,
5-3-8, Nakasu, Hakata-ku,
Fukuoka, 810-0801. Japan.
Phone:+81 92 287 9677 Fax: +81 92 287 9501

Greg Atkinson
Director & Chief Technology Officer
Phone: +81 92 287 9677
E-mail: greg.atkinson@ecomarinepower.com

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