Periodic Reporting for period 1 - Solumar (New deep-tech technology to help industrial, maritime, Oil & Gas companies comply with Agenda 2050 by reducing 99% of PM, VOC, and GHG emissions combined with x6-8 times lower expenses.)
Période du rapport: 2023-06-01 au 2024-04-30
The Women in Tech program has been a key contributor to the Solumar brand team in achieving its next key milestones. We develop critically important technology that directly captures large portions (ranging from 90% to 98%) of multiple types of pollutants combined from exhaust fumes and we do it in a cost-efficient way for our customers.
As the technology allows the capturing of simultaneously multiple harmful pollutants combined, it makes it possible for Industrial and Maritime companies to fully comply with net-zero, Climate change and Global warming-related regulations.
Designed by Aviation appliance engineers, the technology is engineered in a highly competitive manner, considering both the technical viability and the financial KPIs, saving millions in Capital and Operational expenses for the end customers over the lifespan of a ship or port’s equipment. Simultaneously it makes it possible for companies like Maersk, EDT, Scorpio Tankers, DP World, APMT, and P&O to generate revenue from selling the collected Carbon as a byproduct.
With this technology in hand, in parallel to Industrial manufacturer's product development, our expansion plan involves entering the Maritime sector - considering that Ships and Ports are one of the biggest Global emitters (15% of global Black Carbon, 3% of Global CO2 emissions), while ports are one of the larger emitters of harmful particles endangering the well-being of billions of people living near the Coasts.
Assessing the positive future environmental impact and the business opportunities, we developed a comprehensive solution to cater to the retrofit needs of Maritime companies in multiple use cases – whether installed on currently existing heavy machinery, diesel-run generators, boats, cranes, chimneys, furnaces, or vessels, the technology is any size scalable and retrofittable. It may serve 90,000 ships sailing today, 30,000 ships in construction, and 900 ports globally.
To further plan, boost, and speed up such expansion, we needed to validate the viability of the technology for the shipping industry and port operators, gather insights from potential leads, approach and have access to the right network and partners, and be introduced to SMEs and Corporations in the sector to next having chance to demonstrate the technology and follow up resulting in firm confirmation of the need (LOIs), mutual benefits and steps forward to mass commercialization.
The objective of the project was to set crucial stepping stones towards accelerating growth, and speeding up executions, with a focus on market dissemination activities including finding Maritime industry customers and partners, shaping stronger digital and social media presence to increase brand awareness, and business models validation across diverse value chain stakeholders, evaluate and find the best repeatable and scalable model(s), and find Investors to further scale and grow our expansion to key Global markets among which but not exhaustively are Greece, Cyprus, Spain, Portugal, Nordic countries, GCC, and Singapore.
The marketing activities supported communication, brand awareness, specialized events, and social media presence, and today each of the 47 companies in the Maritime sector that we presented to already has the awareness and consideration to collaborate with our team. The women in tech program is also an excellent program to bridge the current status with the desired status of being an investment-ready company with a well-crafted plan and a well-able team to find Investment opportunities and present to VC funds and Cleantech Accelerators globally.
The activities planned and successfully performed will positively impact our unit economics by shortening the route-to-market period, speeding up the process of onboarding customers, decreasing the customer acquisition costs, and through demonstration – increasing the trust of the key partners and potential customers into the ability of our team to execute viable Pilot projects, then converting Pilot clients to a long-term commercial lead.
The resources played a pivotal role in sustaining our pre-market operations and accelerating the next steps as pre-revenue activities are frequently capital intensive and require reaching critical milestones to set a solid ground for the next-to-come development stages.
As the technology allows the capturing of simultaneously multiple harmful pollutants combined, it makes it possible for Industrial and Maritime companies to fully comply with net-zero, Climate change and Global warming-related regulations.
Designed by Aviation appliance engineers, the technology is engineered in a highly competitive manner, considering both the technical viability and the financial KPIs, saving millions in Capital and Operational expenses for the end customers over the lifespan of a ship or port’s equipment. Simultaneously it makes it possible for companies like Maersk, EDT, Scorpio Tankers, DP World, APMT, and P&O to generate revenue from selling the collected Carbon as a byproduct.
With this technology in hand, in parallel to Industrial manufacturer's product development, our expansion plan involves entering the Maritime sector - considering that Ships and Ports are one of the biggest Global emitters (15% of global Black Carbon, 3% of Global CO2 emissions), while ports are one of the larger emitters of harmful particles endangering the well-being of billions of people living near the Coasts.
Assessing the positive future environmental impact and the business opportunities, we developed a comprehensive solution to cater to the retrofit needs of Maritime companies in multiple use cases – whether installed on currently existing heavy machinery, diesel-run generators, boats, cranes, chimneys, furnaces, or vessels, the technology is any size scalable and retrofittable. It may serve 90,000 ships sailing today, 30,000 ships in construction, and 900 ports globally.
To further plan, boost, and speed up such expansion, we needed to validate the viability of the technology for the shipping industry and port operators, gather insights from potential leads, approach and have access to the right network and partners, and be introduced to SMEs and Corporations in the sector to next having chance to demonstrate the technology and follow up resulting in firm confirmation of the need (LOIs), mutual benefits and steps forward to mass commercialization.
The objective of the project was to set crucial stepping stones towards accelerating growth, and speeding up executions, with a focus on market dissemination activities including finding Maritime industry customers and partners, shaping stronger digital and social media presence to increase brand awareness, and business models validation across diverse value chain stakeholders, evaluate and find the best repeatable and scalable model(s), and find Investors to further scale and grow our expansion to key Global markets among which but not exhaustively are Greece, Cyprus, Spain, Portugal, Nordic countries, GCC, and Singapore.
The marketing activities supported communication, brand awareness, specialized events, and social media presence, and today each of the 47 companies in the Maritime sector that we presented to already has the awareness and consideration to collaborate with our team. The women in tech program is also an excellent program to bridge the current status with the desired status of being an investment-ready company with a well-crafted plan and a well-able team to find Investment opportunities and present to VC funds and Cleantech Accelerators globally.
The activities planned and successfully performed will positively impact our unit economics by shortening the route-to-market period, speeding up the process of onboarding customers, decreasing the customer acquisition costs, and through demonstration – increasing the trust of the key partners and potential customers into the ability of our team to execute viable Pilot projects, then converting Pilot clients to a long-term commercial lead.
The resources played a pivotal role in sustaining our pre-market operations and accelerating the next steps as pre-revenue activities are frequently capital intensive and require reaching critical milestones to set a solid ground for the next-to-come development stages.
This program enabled us to validate the product-market fit with a large maritime industry audience and identify the main pain points, followed by a demonstration of our solution to end-customers such as Bulgarian Port Authority, Limassol Port, Damen, EDT, Eastern Pacific Shipping, Saudi Aramco, ADNOC, and to set up the fundaments of high potential partnerships with companies like Fameline Holding Group which thanks to this program will become our Global EPC, distribution and maintenance partner operating 130 companies in the Maritime sector with presence in key geolocations such as Cyprus, Greece, Dubai, Abu Dhabi, Germany, Singapore, and USA.
This program equipped us with the tools to set a long-term partnership with Maritime Clusters in both, Bulgaria and Ukraine who organized Solumar-dedicated online meetings and presentations, and introduced us to the EEN, Maritime companies in the region such as Galera 07, Mimarine Ltd. in Turkey, the Bulgarian Ports Infrastructure company and will continuously support us in networking all members of the EU Maritime Clusters, partnerships in the fields of technology integration to ships and ports with the Naval Academy and the National Port Authority operated by the Bulgarian Government.
Within the project context, thanks to the meetings performed with 47 companies, followed by 20 demonstrations, in the customer pipeline today, we have ADNOC, Saudi Aramco, Green Forest, Galera 07, Shell, and multiple others, whereas 6 of them signed LOIs with determination to launch Pilot projects, and 5 - LOIs with Partners dedicated to supporting us in testbed facilities, air quality monitoring, and spreading the news gaining brand awareness.
We managed to create a professional technical product presentation explaining the working principle of the technology which in the technical realm is proven to be one of the main triggers to positive business outcomes resulting in higher success rate in the customer acquisition pipeline model; we as well detailed competitive landscape technical analysis and craft Investment Pitch deck that captured the attention of Eastern Pacific Shipping technical department and its VC fund, AD Ports, Saudi Aramco, Shell, Repsol, ADNOC and Scorpio Tankers agents’ representatives.
This program equipped us with the tools to set a long-term partnership with Maritime Clusters in both, Bulgaria and Ukraine who organized Solumar-dedicated online meetings and presentations, and introduced us to the EEN, Maritime companies in the region such as Galera 07, Mimarine Ltd. in Turkey, the Bulgarian Ports Infrastructure company and will continuously support us in networking all members of the EU Maritime Clusters, partnerships in the fields of technology integration to ships and ports with the Naval Academy and the National Port Authority operated by the Bulgarian Government.
Within the project context, thanks to the meetings performed with 47 companies, followed by 20 demonstrations, in the customer pipeline today, we have ADNOC, Saudi Aramco, Green Forest, Galera 07, Shell, and multiple others, whereas 6 of them signed LOIs with determination to launch Pilot projects, and 5 - LOIs with Partners dedicated to supporting us in testbed facilities, air quality monitoring, and spreading the news gaining brand awareness.
We managed to create a professional technical product presentation explaining the working principle of the technology which in the technical realm is proven to be one of the main triggers to positive business outcomes resulting in higher success rate in the customer acquisition pipeline model; we as well detailed competitive landscape technical analysis and craft Investment Pitch deck that captured the attention of Eastern Pacific Shipping technical department and its VC fund, AD Ports, Saudi Aramco, Shell, Repsol, ADNOC and Scorpio Tankers agents’ representatives.
We expect to commence multiple Pilot projects with ADNOC, POC tests at the Naval Academy-owned fleet in Bulgaria, and POC at Burgas Port in the next 7-9 months, a Pilot at Repsol premises, and finalizing the JV with Fameline holding group.
Following the successful completion of this project, the next milestone is deploying POC and scale 1:1 Pilots with potential customers in different geographical locations that will serve us as a ground to showcase the outcome internally to the Pilot clients and externally to their Tier 2,3 and affiliate partners and to similar companies in the Maritime sectors. To ensure further uptake, we plan to utilize the network that we built, elaborate and invest in certification and standardization frameworks in the EU countries, GCC, and Singapore, and raise capital to increase our operational and human capital capacity.
Following the successful completion of this project, the next milestone is deploying POC and scale 1:1 Pilots with potential customers in different geographical locations that will serve us as a ground to showcase the outcome internally to the Pilot clients and externally to their Tier 2,3 and affiliate partners and to similar companies in the Maritime sectors. To ensure further uptake, we plan to utilize the network that we built, elaborate and invest in certification and standardization frameworks in the EU countries, GCC, and Singapore, and raise capital to increase our operational and human capital capacity.