Denmark-based Frugal Technologies secures an investment from Emerson. The deal’s total value was not made publicly. The money will be used by the corporation to boost its maritime systems and solutions business’s management, propulsion control, and optimisation capabilities.
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.
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.
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.