What impact do we expect?

Having covered why we have founded Renable, and whether a demand for our solution exists, there remains for us to set out what impact we might expect from our novel approach to the optimisation of ship recycling.

Studies indicate that using recycled steel to make new steel, rather than working from iron ore, reduces air pollution by 86%, water use by 40%, and water pollution by 76%. Furthermore, one tonne of recycled stainless-steel scrap can save 4.3 tonnes of CO2 in stainless steel production.

While the dismantling and recycling of marine assets are clearly warranted and may contribute significantly towards a circular economy, they remain activities which today emit very significant volumes of Greenhouse Gases. Our holistic, AI-optimised, track & traced processes, coupled with our strong focus on the use of least-emitting technologies, will reduce the emission of greenhouse gases from these activities significantly. We initially aim to reduce the emissions by 35% compared to today's standard, with an end goal of reducing emissions by 90+% when the steel mills have converted their processes to hydrogen. By using innovative commercial models, the entire value chain will be incentivised to reduce emissions of Greenhouse Gases.

If successful, our initiative will assist in pursuing a sustainable economy through efficient and equitable resource use, while significantly reducing Greenhouse Gas emissions and protecting essential ecosystems. This is critical to overcome the technological and economic challenges and create the market conditions necessary for the maritime and steel industries to transition to low-carbon steelmaking effectively. 

We initially aim to reduce the emissions by 35% compared to today's standard, with an end goal of reducing emissions by 90+% when the steel mills have converted their processes to hydrogen.

The concept behind our contribution towards solving the circularity puzzle has received supporting grants from The Danish Maritime Fund, a privately owned maritime industry fund, and from Innovation Fund Denmark, a public fund issuing EU grants. Both funds recognise that our innovative solution could help solve an unmet need within the shipping and other industries, as it contributes to the green transition while ensuring economic sustainability.

Further, letters of endorsement have been received from major maritime industry players and NGOs. We are in constant contact with all of these to ensure that our solutions will, in fact, provide the contribution that we look for.

With all the support that we have received and continue to receive, we are energised to ensure that we can make our solution work.