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New emission technology company plans crowd-funded expansion

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Daphne Technology, a spin-off from the Swiss Federal Institute of Technology, is raising finance through a crowdfunding operation to grow its emission technology solutions

Swiss-based Daphne Technology which has designed and patented solutions to reduce air and sea pollution for ships, has partnered with Crowdcube, the world’s largest equity crowdfunding platform, to offer a stake in the company to the public.

According to Dr. Mario Michan, Founder & CEO Daphne Technology, the company has already raised €8m including funding from the EU’s Horizon 2020 research and innovation programme (and other sources), but recognised demand from the public to support technologies that fight climate change.

“Daphne Technology is currently pursuing its second equity round to pilot test our solutions with leading shipowners. For individuals who care about the environment and good returns, even a small investment in our company will make a big difference. To help the industry achieve zero emissions, owners will have to embrace innovative technologies that enable a multi-fuel and a multi-emissions solution,” he said. “Our unique, patented technologies will not only help shipowners eliminate toxic and GHG emissions from all fuels and will allow them the most flexible and economically viable path towards compliance with existing and future regulations.”

To meet the IMO’s decarbonisation targets, Daphne Technology offers a “universal green converter”, specifically engineered to help the maritime industry to reach net-zero greenhouse gas (GHG) emissions by 2050 or earlier, no matter what fuel is used. This revolutionary exhaust gas purification system is claimed to remove multiple air pollutants from different fuel types, such as HFO which emits CO2, NOx and SOx, ammonia, which emits N2O, NH3 and  LNG which emits CO2, NOx and potentially methane (CH4), which has more than 80 times the warming power as CO2.

Michan adds that the combustion of hydrogen, another promising alternative fuel now being considered, will produce NOx, which is not only toxic but also a climate pollutant with 10-30 times the warming power as CO2). “The ‘universal green converter’ can also reduce this gas efficiently,“ he said.

At present, Daphne Technology owns patents that build on technologies, including Dielectric Barrier Discharge (DBD) and Electron Beam Flue Gas Treatment (EBFGT), which remove toxic pollutants and GHG emissions from engine and boiler exhaust gas. The company is also active with a number of pilot projects in Norway, related to ammonia as fuel and carbon capture and storage.

“We provide technology support to DNV’s Green Shipping Programme, a public-private partnership which aims to advance the Norwegian government’s maritime strategy and escalate investment in green shipping,” said Michan. “We have also established our commercial team in Norway, a top shipping nation and world leader in the development of low-and zero-emission solutions.”

Daphne Technology seeks to raise capital on the Crowdcube platform to scale-up and commercialise patented technologies. The company is currently in discussion with three major shipping companies seeking to retrofit their LNG vessels by the end of 2022.

 

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