TECO 2030 ASA: Carbon Capture feasibility study completed, and we are moving on
TECO 2030 ASA (OSE-Ticker: TECO) completes Carbon Capture and Storage (CCS) feasibility study with AVL.
The shipping industry can reduce CO2 emission dramatically by installing onboard Carbon Capture and Storage equipment. This is an important part of reducing shipping’s environmental footprint. The feasibility study jointly conducted between TECO 2030 and AVL has concluded that onboard Carbon Capture and Storage is technically and financially viable. The next phase will be a pilot development and test for maritime applications, this phase will focus on verification and optimization of the technologies.
According to the Paris Agreement global greenhouse gas emissions need to be cut in half to stay below the global warming limit of 2 degrees Celsius. If left unregulated, international maritime transport is expected to be responsible for 17% of global greenhouse gas emissions by 2050 according to Cames
KR launches online EEXI/CII calculation program
The Korean Register (KR) has developed a web-based EEXI/CII calculation program to help shipping companies comply with the Energy Efficiency Index (EEXI) and Carbon Intensity (CII) decarbonization regulations which will come into effect in 2023. The program uses KR’s extensive software development experience and offers a simple way to calculate each vessels compliance using basic key information.
The International Maritime Organization’s (IMO) 75th MEPC meeting announced the enforcement of more stringent decarbonisation regulations. Among them, the assignment of the Energy Efficiency Existing Ship Index (EEXI) and the Carbon Intensity Indicator (CII) which will be applied to existing ships from 2023, creating a significant challenge for the maritime industry.
‘A.P. one of the few States to incorporate ECBC in building bylaws’
Energy Secretary N. Srikant has called for focus on implementation of Energy Conservation Building Code (ECBC), which helps in achieving a significant reduction of energy in the building sector and in cutting down on electricity bills.
Addressing a State-level webinar on ECBC conducted by the Administrative Staff College of India (ASCI) as part of the National Energy Conservation Week on Wednesday, Mr. Srikant said Andhra Pradesh was one of the few States that issued a G.O. on ECBC and incorporated the same in building bylaws and online building permission system.