Pictured is Dr Yichen Zong (left), founder of 3Y Energy, presenting his company to Dr Amy Khor (right), Senior Minister of State, Ministry of Sustainability and the Environment Ministry of Transport at the InnovFest x Elevating Founders 2024 event in Singapore.
The Cambridge CARES spin-off 3Y Energy was recently awarded the Maritime Innovation and Technology (MINT) Fund to support the company’s development of an integrated platform for evaluating, verifying, and optimising biofuel blends.
As a finalist in the PIER71 Smart Port Challenge 2023, 3Y Energy had the opportunity to apply for the MINT Fund supported by the Maritime & Port Authority of Singapore (MPA). The $250k grant was awarded to five successful start-ups and will support the development of prototypes and solutions for the maritime industry.
Dr Yichen Zong, co-founder of 3Y Energy, said: ”The biofuel market is rapidly growing. It is estimated that Singapore’s marine biofuel demand will be around 1 million metric tons in 2025. Our technology will help fuel suppliers create optimal biofuel blends for engine usage”.
3Y Energy currently has two business units: the first is to retrofit legacy engines for compatibility with green fuels like ammonia, and the second focuses on supporting the assessment of biofuel blends. Together, the joint focus on alternative fuels will advance Singapore’s position as a hub for green technologies in the maritime sector.
”The MINT Fund is a milestone for company development as it is our first grant. We intend to use the fund to build an online biofuel database to reduce the difficulties and risks of adopting biofuels in the shipping industry,” said Dr Zong.
This announcement was made during the InnovFest x Elevating Founders 2024 event in Singapore during the launch of Smart Port Challenge 2024 to address four key areas: maritime green technologies, smart shipping, next-generation ports, and digitalisation.
Read the full press release from MPA here.
Read the coverage on Zaobao, Singapore’s main Mandarin news outlet.
The technology behind 3Y Energy was generated from research in the CARES Carbon Reduction in Chemical Technologies (C4T) programme supported by the National Research Foundation, Prime Minister’s Office, Singapore under its Campus for Research Excellence and Technological Enterprise (CREATE) programme.
