.png)
What is the BlueInvest Project Pipeline?
The BlueInvest Project Pipeline is a database and showcase of projects, scale-ups and SMEs who are driving innovation and sustainability in the Blue Economy.
The projects featured are innovative, scalable and sustainable business ventures from traditional and emerging sectors of the maritime economy.
The aim is to facilitate connections between projects and investors, helping innovative ventures gain visibility and access to funding opportunities.
Want to be featured?
Login to the BlueInvest community & Submit your project
Selection criteria
- Your company is EU-based or from an eligible sea basin region (Georgia, Turkey, Ukraine, Moldova, Montenegro, Albania, Bosnia-Herzegovina, North Macedonia, Serbia, Turkey, Israel, Egypt, Tunisia, Algeria, Morocco, Lebanon, Syria, Libya, Mauritania, United Kingdom, or Norway)
- Your project TRL is 4 or higher
- Your project sector is in one of the 10 blue economy sectors identified for this initiative
- Your solution has a clear sustainable impact on the blue economy
- Your project is looking for investment
13 Mari
Krassi Fotev, Founder, Technical, Ph.D. Candidate
SUMMARY
• Ph.D. candidacy in Physics in Non-Linear Time Series Analyses and Forecasting field;
• MS Degree in Physics / Meteorology, which triggered and supported the 13 Mari research and development since the concept inception in 2018;
• 28 years of full stack product development and team management software engineering experience, building distributed, highly available, low latency data processing solutions;
• 12 years of startup experience, founding, running, and managing startup companies;
• Excellent people management, estimation, prioritization, writing, and communication skills (3 spoken languages; has built and managed international teams).
13 Mari has developed an innovative way to reduce cargo ships' drag, thereby lowering fuel consumption to reduce carbon emissions and align with the maritime industry's goals.
The addressable market is estimated at $6.7B p.a., with 1/5 of it as a 13 Mari take rate (the product comes with 1 ROI in a 5-year scheduled maintenance-voyages-scheduled maintenance cycle). The CO2 elimination potential of the technology is estimated at 45,000,000 tonnes p.a..
The product is back by recent advancements in understanding origins of the fluid drag in a turbulent flow regime. It is decoupled from a propulsor and applicable to all vessel hull types, regardless of fuel and engine type, making it of interest longer term.
The 13 Mari product won the Captains Table global Maritime competition in Hong Kong, also won by Greywing and Clearbot. https://youtu.be/QJR6p98Kst4
Passive, simple, zero OPEX product reducing fuel consumption and associated with the fuel wel- to-wake emissions by up to 7% across the entire commercial fleet. While there is no direct competition to the 13 Mari product, none of the competing energy saving devices come close in terms of return of investment and overall efficiency.
The product comes with 1 year return of investment. Just as an illustration, the following median fuel cost savings p.a. are projected across the different commercial vessel types:
Bulkers
Handysize $120,000
Handymax $150,000
Supramax $160,000
Panamax $180,000
Post-Panamax $200,000
Capesize $350,000
VLOC $430,000
Tankers
Product Tanker $83,000
Coastal Tanker $140,000
Aframax $170,000
Suezmax $340,000
VLCC $560,000
ULCC $580,000
Container Carriers
Early Cotainerships $250,000
Fully cellular $350,000
Panamax $420,000
Panamax Max $560,000
Post Panamax $870,000
VLCS $1,400,000
ULCS $1,900,000
The deal terms are 8% interest, 20% discount, 24 mo maturity.