Shift Clean Energy’s PwrSwäp technology will be used first

(Vancouver/Singapore, Canada), Sept. 28, 2022 (GLOBE NEWSWIRE) — Shift Clean Energy (Shift) today announced its participation in the Port of Singapore’s first all-electric battery replacement vessel. The news was shared today at a keel laying ceremony led by members of the SeaTech Solutions International (SeaTech), Yinson GreenTech (YGT) and Goal Zero consortium, announcing the start of construction of the first all-electric cargo vessel – the Hydromover – in the Port of Singapore.

The all-electric Hydromover, owned by YGT and designed by SeaTech, will be the first to use Shift’s PwrSwäp technology, the first pay-as-you-go energy subscription service that provides ships with instant clean, renewable energy with no risk or obligation. Shift industry-leading The PwrSwäp technology simplifies the transition from diesel to hybrid or full electric, changing the energy storage game for the marine industry.

The Hydromover will be the most economical and environmentally friendly option for cargo ship crafting. Reduce fuel costs by approximately 77% and reduce greenhouse gas emissions (GHG) from the atmosphere by approximately 752 tons.

Brent Perry, CEO and founder of Shiftcommented: “We are delighted to be a part of this important day and proud to be a member of the Goal Zero Alliance. Decarbonisation of the marine industry has never been more important and partnerships like this are critical to driving it forward. Important. PwrSwäp’s industry-leading, safe and clean technology will play a vital role in revolutionizing operations in the port process sector at the Port of Singapore and beyond, as well as helping the maritime industry meet IMO’s 2050 GHG emissions targets.”

Yinson Executive Vice President New Ventures and Technology, Mr. Eirik Barclay, Said: “Target Zero is made up of like-minded and synergistic partners who are fully committed to helping the marine industry transition to Net Zero. We have achieved a number of important milestones since the grant was awarded and are reached in today’s keel laying culminated in the official start of construction. We are very pleased with our rapid progress and look forward to launching our pilot vessel by the second quarter of 2023, well ahead of the 5-year timeline originally planned for the program. Not only Making Target Zero the first to launch our all-electric cargo ships, but also making a significant contribution to Singapore’s goal of operating all domestic port vessels on low-carbon energy solutions by 2030 and halving carbon emissions from 2050 Disappeared on these ships.”

The Zero Target Consortium has been awarded one of three grants by the Maritime Port Authority and the Maritime Research Institute of Singapore in August 2021 to research, develop, deploy and commercialise fully electric cargo ships with replaceable battery infrastructure solutions. After an extensive research and design phase, the vessel will enter the construction phase, which is expected to be completed and launched in the second quarter of 2023 and ready for commercialization in 2024.

To date, around 100 ships have registered interest in PwrSwäp, with plans to open 12 sites by mid-2023.

About Shift Clean Energy:
Shift Clean Energy provides energy storage solutions to decarbonize the maritime industry and other hard-to-abate industries. Shift enables customers to achieve their climate action and ESG goals through clean energy solutions based on leading energy storage systems. Considered the safest and most reliable energy storage solution on the market today, and the first commercial marine solutions company to offer a pay-as-you-go PwrSwäp subscription energy system. Customers save money from day one by electrifying, integrating ESS and renewable energy for commercial and marine applications. Shift has offices in the US, UK and the Netherlands, and a new office in Singapore is under construction. Join our mission to zero emissions.

About Yinson Green Technology:
Yinson Green Technology (YGT) is a green technology solutions provider providing clean, integrated and technology-enhanced ecosystems in the marine, transportation and energy sectors.

YGT invests in novel green technology ideas and sustainable solutions and works with like-minded partners in its key geographic markets to provide integrated digital solutions and platforms that connect its smart green technology assets and green infrastructure to fully support its The customer transitions to a zero future for the network.

YGT is a wholly-owned subsidiary and green technology arm of global energy infrastructure and technology company Yinson Holdings Berhad, which is listed on the Main Board of Bursa Malaysia.

About the Goal Zero Alliance:
The Goal Zero Alliance brings together the diverse expertise of 13 companies and research institutions. Project leader SeaTech takes on the roles of ship designer and system integrator, while Yinson Greentech is responsible for overall project management and commercialization.

Other consortium members include Shift Clean Energy as battery technology partner, Rina Hong Kong Limited Singapore Branch as classification society, industry partner Batam Fast Ferry, Bernhard Schulte (Singapore) Holdings, DM Sea Logistics, Marina Offshore, Kenoil Marine Services, Lita Ocean Pte Ltd and Jurong Port and research institutes Singapore Polytechnic and Singapore Offshore and Marine Technology Centre.


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