International Cargo Shipping Demand, including dry bulk, crude oil and container shipments is projected to grow by over 1 billion tons to 8 ½ billion by 2020 according to data from Global Insight’s World Trade Estimates.
At the same time The U.S. Environmental Protection Agency (EPA) and the International Marine Organization (IMO) recently enacted a series of new regulations designed to reduce emissions from large ships and improve air quality.
Large ships such as container ships, tankers, bulk carriers, and cruise ships are significant contributors to air pollution in many of the world’s cities and ports.
Commercial ships produce more than 1 million tons of CO2 PER DAY - That’s more than whole of UK, Canada or Brazil.
Pacific Green Technologies, ticker PGTK, has developed a portfolio of Emissions Control Technologies for use in both power plant and marine applications.
They have a veteran management team and a global footprint with offices in the U.S., Europe and China and they’re rolling out one of the most competitive technologies to date to help large ships with Category 3 diesel engines control emissions and meet increasingly strict environmental regulations now and into the future.
They beat out competing technologies in 3 ways:
- They’re cheaper to build - they’re smaller so take less material and labor to construct.
- They’re cheaper to operate - their greater efficiency results in an 80% reduction in electricity consumption.
- And they use less water.
More cargo shipped means more ships, more fuel burned, more emissions and therefore greater demand for technologies to help the shipping industry meet IMO Tier II and Tier III regulations in the most cost effective manner possible.
With an overall Emissions Control Catalyst market projected to be worth $16.09 Billion USD by 2021 - PGTK’s patented emissions control technology is well positioned to grab market share.
To learn more about them please visit their website at www.pacificgreentechnologies.com.
Forward Looking Statements
This CEOLIVE.TV video interview contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company's contracts, the Company's ability to raise sufficient development and working capital, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all.