In a striking fusion of Greek innovation and Japanese expertise, DeepSea Technologies, a Greek AI shipping startup, has announced the acquisition of a majority share by Japan’s leading automation corporation, Nabtesco. The specific financial details of the acquisition remain undisclosed.
Founded in 2017, DeepSea Technologies has been revolutionising the maritime sector with the development of fuel optimisation platforms designed to lessen the emissions of fossil-based shipping fleets, simultaneously reducing operational costs. A fundamental player in the eco-conscious revolution of the industry, DeepSea will now function as Nabtesco’s “centre of excellence for AI research and product development,” an influential role in the company’s pursuit of scalable semi-autonomous shipping.
Brimming with AI expertise and innovation, DeepSea will continue to operate autonomously, pushing forward its pioneering digital transformation in the maritime sector. The startup will maintain focus on its twin platform projects, Cassandra and Pythia, two highly sophisticated technological inventions that are revolutionising ship management.
Cassandra, an advanced vessel monitoring and optimisation platform, empowers clients with the capability to track emissions across their fleets and monitor how each ship component affects performance. Equipped with real-time alerts for critical issues like fuel waste and maintenance needs, it epitomises the innovative intersection of technology and sustainability.
Contrastingly, Pythia, the world’s first weather routing platform customised for specific ships, offers optimal routes and speed-trim policies based on detailed evaluations of costs and CO2 emissions. This innovation provides live updates on weather conditions, promising safer and greener journeys.
With these technologies, DeepSea pledges the prospect of significant energy efficiency improvements, offering a remarkable potential 10% enhancement across fleets in merely 12 months.
Retaining its startup ethos, DeepSea has effectively nurtured a thriving company culture, despite its impressive growth. With over 70 specialised engineers skilled in AI and software development across their offices in Athens, London, and Rotterdam, the startup’s founders, Dr Konstantinos Kyriakopoulos and Roberto Coustas, will continue to steer the ship as CEO and President respectively.
Kyriakopoulos expressed optimism about this new venture, seeing it as a golden opportunity to combine DeepSea’s disruptive technology with the prowess of an industrial powerhouse, thereby creating the perfect synergy of youthful innovation and seasoned expertise.
With global warming spiralling into an alarming state of emergency, the pressure on shipping companies to control CO2 emissions is intensifying not only from a climatic standpoint but also from a business and regulatory angle. The International Energy Agency (IEA) reported that maritime shipping was responsible for approximately 2% of energy-related global CO2 emissions in 2022.
Though there isn’t a legally binding accord on emission reduction in the industry, the International Maritime Organisation (IMO) has initiated steps to minimise greenhouse gas emissions from international shipping. In its latest GHG strategy, released in July 2023, the IMO set a goal of achieving net-zero carbon emissions by 2050. The member states agreed on “indicative checkpoints” that aim to cut total emissions by 20% by 2030, gradually increasing to 80% by 2040.
Moreover, from 2024, maritime activities will fall under the purview of the EU emissions trading scheme (ETS). This inclusion will place a financial implication on each kilogram of CO2 emitted, underlining the urgency of maritime companies adopting eco-friendly practices for not just planetary health but also financial sustainability.
