Greywing is a Singapore-based company that was established in 2019 to assist ship operators and other stakeholders in the marine sector in making crucial decisions. It includes instruments for managing crew changes, anticipatory reporting of potential problems like piracy, and updates on travel restrictions due to pandemics. In addition to $2.5 million in seed funding, Greywing today announced the launch of a new technology that will assist vessel operators in tracking carbon emissions caused by crew changes. Y Combinator (Greywing was a part of its winter 2021 cohort), Entrepreneur First, Flexport, Transmedia Capital, Signal Ventures, Motion Ventures, Rebel Ventures, and Signal Ventures are among the investors.
With the help of Greywing, ship operators can now predict the potential carbon impact of a crew change.
The carbon emissions calculator inputs information about crew members’ present locations, home ports, and future route adjustments. The platform searches for flights that crew members can take after waypoints are entered. Ship operators can choose flights that will reduce overall emissions without having a substantial influence on an operation’s costs because the amount of carbon emissions each flight will produce is provided together with its cost.
In an email, the company’s chief executive officer Nick Clarke stated that shipping is responsible for 3% of world emissions, with crew changes and other “scope 3” emissions accounting for nearly one-third of that total. The International Maritime Organization’s 2030 and 2050 Decarbonization Targets must also be met, which is why many ship owners are dedicated to reducing carbon emissions.
The carbon emissions tool was made available three months after Greywing launched Crew Change , which was designed to assist shipping businesses in managing crew testing, quarantine, and other COVID-19 requirements.
After meeting at Entrepreneurs First in Singapore, founders Clarke and chief technology officer Hrishi Olickel founded Greywing in 2019. Due to his expertise in parametric insurance and robotics, Olickel told TechCrunch in an email that before to joining the program that matches possible co-founders, he “knew basically nothing about the marine business.”
“Nick and the awareness that maritime was a crucial business on the cusp of digitization where we could make a difference,” he stated, “drawn me to Greywing’s goal.”
Greywing was developed to lessen the amount of preparation work required by vessel operators. It gathers information from both public and private sources and transforms it into reports that are simple to use and navigate (the platform was designed to be mobile first). According to Clarke, “up until the advent of our operating system, decision makers were being fed all of these vital facts from separate channels and handling them on multiple platforms—emails, crude vessel tracking systems, HR ERP, phone conversations, or even Excel spreadsheets. As you would imagine, it may be challenging to process all of these data pieces and transform them into actionable insight, especially when making the wrong choice could be expensive, hazardous to the environment, or both.
According to Olickel, the purpose of Greywing’s carbon emissions and Crew Change solutions is to “advance beyond idle information reporting, which is where the industry currently stands, to real-time decision making and then on to predictive alerts.”
Greywing will be able to access more maritime data sources thanks to the latest round of investment and create intelligent vessel management systems that will become more autonomous as the platform’s algorithms become more advanced.
In the end, the investment will enable us to leverage Greywing’s solution to mobilize the shipping sector and address the 1% of global carbon emissions that would otherwise go unaddressed, according to Clarke. “We are already trying to have our solution installed on more than 2,000 ships, or 3.5% of the commercial fleet worldwide. This will eliminate more than 230,000 tonnes of carbon dioxide from the atmosphere, which is the same amount of carbon dioxide as seven ships from our waters.