Investment platform promotes green tech

IMO conference Crystal Seas was launched at the IMO conference in Poland last month. Credit: Port Evolution Management

A new AIM-listed investment platform aims to accelerate growth in IMO-compliant green technology service companies to minimise the marine industry’s environmental impact and help it meet the required standards for shipping.

Crystal Seas Plc, set up by Port Evolution Management Ltd. (Port Evo), will seek to boost the profiles of the companies involved in the platform to encourage use of their vessel services in key ports around the world.

CEO of Port Evo, James Sutcliffe, who is heading up Crystal Seas as executive director and chairman alongside non-executive director Ian Rosenblatt, said: “We are seeking industry and commercial investors to support this platform and commence operations by January 2019.

“We have already reached an agreement to acquire the first company to join CS, with others in our sights to accelerate their growth and geographical spread through cross marketing all services.”

Service portfolio

IMO- compliant services supported by the platform include green technologies for cleaning hulls and internal equipment, pipes, tanks and other waste systems; waste converted to useable fuels; port-based ballast water management and resupply systems; and port-based onshore power facilities. Crystal Seas also plans to establish a centre of excellence for knowledge, new technologies, education and cross sector working in the marine and shipping industry.

Crystal Seas’ philosophy is ‘Clean oceans – cleaner ships’ however, “by improving the performance of ships we can reduce the cost of their operation as well,” stressed Mr Sutcliffe, who launched Crystal Seas at the IMO conference in Poland from 13-14 June.

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