Fleetzero wants to compete with global shipping companies with its own boats. The company is looking for the first ship to convert to run on its batteries after securing $15.5 million in new funding.
The company plans to replace the diesel engine or generator on existing ships with enormous batteries of the company's own design. These would be loaded and unloaded the same way as any other cargo. Some of the longest and most popular routes across the Pacific can be handled by a ship doing this.
At some point you need to put these theories on the water and that is the next step for the company. Steven Henderson and Mike Carter have shipbuilding experience and are excited to join the company.
Fleetzero's tech could eventually power ships in the 700-foot range but it makes sense to start with something a little smaller.
According to Henderson, companies across the spectrum have reached out to them. We went through the list of the biggest auxiliary ship companies, like supply vessels for oil and gas companies and research vessels, and said, "All right, we have this tech, and our goal is eventually to go do our own cargo."
This pitch went over well. Henderson said that people are willing to pay them to test the batteries. Fleetzero wants to make their own boats, but that is a long term goal.
There are a lot of ocean-going vessels and their operators. Some big companies own and operate, some only own or only operate, others have fleets for short-term hire and so on. Some are more likely to bite first when it comes to the possibility of electric ships.
Theauxiliary category of ships, which include research vessels, ships that go out and inspect offshore wind farms, and other tasks that take a serious boat and crew, are one of the better prospects. Many of the ships use diesel generators for their electric motor power. It sounds like the worst of both worlds, but Fleetzero's battery tech is really easy to use.
It doesn't involve a dry dock and it takes a matter of weeks to convert. We put our batteries on the back deck of the PSV and wire them in.
The batteries are put there when you swap out the engine. It's not a good idea to scale. The image is called Fleetzero.
Though the company has a lot of inbound, there are doubters out there who would like to see a working vessel before committing any resources.
Fleetzero is one of the few companies trying to move the needle in shipping. Logistics and supply chain economics have their share of innovation, but the ships and shipping companies have not.
He pointed out that the White House recently issued a report saying that three global alliances made up of foreign companies control almost all of ocean freight shipping. They mean it when they say almost all. The feds will be looking into price fixing, but it's not a bad idea to support a sustainable American alternative.
Fleetzero can't make any claims to being a new startup, but their approach avoids the most direct competition.
The company builds ships with shipping partners that will operate in parallel to traditional lines. It saves time and money by not having to wait for a spot at the docks, and it also makes for a robust network of charging and offloading stations. They will need to make friends in Southeast Asia as well.
Bill Gates and his group, the Bill Gates-led venture group, lead the new funding. It shouldn't be a big deal, but they were big on due diligence.
Bill Gates offers guidance on what climate technologies he’s looking to fund
BEV was just one of many investors who contributed. The state of Alaska is an important one to get since it makes up a large portion of the Pacific U.S. coast.
1,500 people applied for 10 positions at Fleetzero after they came out of stealth. It shows that a lot of people in the shipping world are interested in the company.
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