Finnish Ahti Climate has secured additional funding from Business Finland for its sustainable fuel credit pooling platform to help ship owners meet FuelEU Maritime regulations.
Being able to retrofit for and bunker low-emission fuels has proven to be challenging since the infrastructure for fuels like green methane and biomethane are not sufficient to supply ships globally yet. Ahti’s platform allows shipowners and charterers to trade FuelEU credits, by purchasing low-emission fuels for other ships in the pool that have access to them while the purchaser receives the credit.
However such tools may undermine the goal of such regulations. According to the model shown by Ahti, one overcompliant ship can offset more than 65 undercompliant ones using mostly conventional fuels. If the goal is to decarbonize the industry that model doesn’t suggest burning ambition to make that transformation.
“Business Finland’s funding of Ahti Pool is recognition of the maturity of our technology and its global scaling potential,” said Risto-Juhani Kariranta, Chief Executive Officer of Ahti. “Today the platform is enabling compliance and monetisation of FuelEU Maritime overcompliance, but the technology will also streamline adherence with IMO Net Zero. This support will enable us to deepen our R&D efforts, strengthen our platform, and hire top-tier talent to meet rising demand for Ahti Pool from global shipowners and operators operating in EU waters.”
According to the rules, the entire pool must be compliant each year and each vessel can only belong to one compliance pool each year. Pool members chan exchange compliance with one another within the same year and pool members can use different verifiers.
“Business Finland is committed to supporting innovative solutions that tackle global challenges,” said Lari Rajantie, Chief Funding Advisor, Startup Funding at Business Finland Ahti Pool is a groundbreaking platform that helps the maritime sector comply with FuelEU Maritime regulations while delivering strong commercial results.”
