[Funding alert] Denmark-based Frugal Technologies Secures an Investment from Emerson

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Under the leadership of co-founder and CEO Peter Hauschildt, Frugal Technologies offers ship owners a product line that puts greener shipping and propulsion efficiency ahead of laws by integrating clever add-ons to current vessel control systems while maintaining all safety features.

Fleet performance managers can access and view vessel performance data using the add-on cloud-based software solution My Data, giving them the ability to act and make choices based on the most recent business intelligence.

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Frugal Propulsion, a dynamic modeling-based solution for big vessels that saves cash, fuel, and pollution, is the brainchild of Frugal Technologies.

About Frugal Technologies

In 2017, Lars Stoustrup, a system architect and developer, Mikkel Elsøe, a partner in Zolo International Trading, and Peter Hauschildt, a partner in Hauschildt Marine, formed the company.

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Using IoT, Big Data, and machine learning, Frugal Propulsion collects information on vessel propulsion and uses it to produce propeller curves that work best for a range of vessel situations. As a result, fuel costs and CO2 emissions decrease substantially. 10% of fuel is usually saved, which makes the system installation extremely economical.