Yinson forms new division to drive net carbon-zero future

KUALA LUMPUR: Yinson Holdings Bhd has today launched its green technologies division at the Singapore Maritime Technology Conference (SMTC) 2021, marking its foray into technology sector to drive the global transition to a net carbon-zero future.

The new division sits alongside the company’s offshore production, renewables and offshore marine divisions.

Yinson group chief executive officer Lim Chern Yuan said this was in line with its commitment to reducing carbon emissions, improving climate resilience, and accelerating the global transition to a low carbon economy.

“With green technologies now complementing our other three business divisions, we believe that we can unlock greater synergies that can strengthen the sustainability of our businesses and enhance value for our stakeholders,” he said in a statement today.

Lim said the move was also in line with Yinson’s commitments to the United Nation Sustainable Development Goals and targets to be carbon neutral by 2030 and net zero by 2050.

At SMTC 2021, Yinson also showcased a concept model of the Hydroglyder, a harbour craft equipped with advanced hydrofoil technology, enabling the craft to fly above water, greatly reducing water resistance and thereby increasing energy efficiency.

The all-electric Hydroglyder represented the most economical and environment-friendly option for light harbour crafts.

Simulations showed the Hydroglyder can reduce energy costs by up to 90 per cent, while achieving cruising speeds of 25 knots and provide superior comfort for the passengers.

The hydrofoil technology used by the Hydroglyder is developed by Lift Ocean AS, a Norwegian start-up tech company which Yinson has invested in.

Yinson group executive vice president of new ventures and technology, Eirik Barclay said the company was working with local suppliers to build a strong ecosystem for such technologies and operations in Singapore.

“Our green technologies division is headquartered in Singapore – home to the second busiest port in the world. As a socially responsible business, our primary focus lies in driving decarbonisation efforts within the region’s maritime segment,” he said.

Eirik said the team had also invested into clean energy initiatives within the transport and energy business segments.

Source: NST