CR (Classification Society) Signs MoU with CIP to Develop Low-Carbon Energy Solutions for Taiwan's Shipping Industry

　　Copenhagen Infrastructure Partners (CIP) announced yesterday (the 19th) the signing of an MoU with the Classification Society (CR) to promote the development of low-carbon energy production and utilization in Taiwan, providing low-carbon solutions for the Taiwanese shipping industry.

　　Through collaboration with CR, CIP will extensively explore the feasibility of using Power-to-X (PtX) technology in Taiwan to produce low-carbon fuels using green energy. Among the top 15 global shipping companies, three are from Taiwan, indicating Taiwan's significant position in the international shipping industry. Establishing the necessary resources and environment for decarbonization in the shipping sector is paramount for Taiwan's maritime industry and global emissions reduction efforts.

　　Last year, Taiwan formally incorporated the 2050 net-zero emissions target into the Climate Change Response Act. In July this year, the International Maritime Organization (IMO) also set 2050 as the international shipping industry's target year for achieving net-zero carbon emissions. The global shipping industry is facing significant decarbonization pressure, with fuel being the primary source of carbon emissions. Low-carbon fuels are indispensable in the shipping industry's journey toward achieving net-zero carbon emissions.

　　CIP has a strong track record in renewable energy investment and development. The company established the Energy Transition Fund in 2021, focusing on diversified power transformation and investment development in low-carbon alternative energy. The fund manages up to 3 billion euros and has several ongoing projects in Europe, the Americas, and Australia.

　　Managing Director at CIP Taiwan, Marina Hsu, stated that CIP is involved in multiple PtX projects across various countries worldwide, producing green hydrogen, green ammonia, green methanol, and other alternative fuels to support the low-carbon transformation of leading industries such as transportation, agriculture, chemicals, and steel. With active participation in offshore wind power investments, development, and construction in Taiwan, coupled with PtX technology and professional investment capabilities, the collaboration between CIP and CR will jointly realize the production and application of low-carbon energy.

　　CR Chairman Wei-Chun Hsieh stated that since its establishment in 1951, CR has continuously fostered independent technological capabilities to provide the highest quality services to the shipping industry. In addition to implementing vessel inspections to comply with international conventions and classification rules, CR has recently formulated several alternative fuel technology standards for industry reference, including "Guidelines for Ships Using Gases or Other Low-Flashpoint Fuels 2022," "Guidelines for Ships Using Methanol (Methyl Alcohol) and Ethanol (Ethyl Alcohol) Fuels 2022," and "Guidelines for Ships Using Ammonia as Fuel 2023." CR is fully committed to assisting our country's shipping industry in maintaining alignment with international standards, solidifying Taiwan's significant position in global shipping.