Scorpio Tankers Inc. has entered into a Memorandum of Understanding (“the Agreement”) with Carbon Ridge LLC (“Carbon Ridge”) to collaborate on the development of onboard carbon capture for maritime vessels.

Carbon Ridge is a US-based startup working to commercialize existing gas separation technology without the need for large structural modifications. The Agreement addresses the collaboration for detailed front-end engineering, design, and validation process with a small-scale test unit onboard one of the Company’s vessels.

Emanuele A. Lauro, Chairman and Chief Executive Officer of Scorpio Tankers, commented, “We are pleased to partner with Carbon Ridge and assist in their efforts to reduce the carbon footprint of maritime transportation. In light of the myriad questions regarding alternative fuels, we feel that onboard carbon capture presents a viable path to decarbonization for large segments of our industry.”

Chase Dwyer, Chief Executive Officer of Carbon Ridge, added, “With a recent push towards well-to-wake accounting for emissions, truly low-carbon alternative fuels will be in limited supply for the foreseeable future. We believe carbon capture will provide the most cost-effective solution to meet IMO decarbonization targets for the benefit of all stakeholders. We value Scorpio Tankers as our anchor customer and look to their decades-long operational and technical experience to strengthen our product offerings.”