MOL invest in Carnot, a Tech startup developing ways to dramatically increase engine fuel efficiency, slash GHG emissions

July 22, 2024

From left, MOL Senior Managing Executive Officer, Mr. Toshinobu Shinoda, Carnot Ltd. Director, Mr. Archie Watts-Farmer, MOL (Europe Africa) Ltd. Deputy General Manager, Mr. Alex Green, Carnot Ltd. Director, Mr. Francis Lempp

Developing Engine Technology that Is Expected to Improve Fuel Efficiency by up to 40

Mitsui O.S.K. Lines, announced its intent to invest in Carnot , a startup company that develops technology for highly efficient engines using heat-resistant materials. This project has been led by MOL.

Steel and aluminum engines require constant cooling to prevent them from overheating, which reduces performance and increases the risk of engine failure. Therefore, about 30% of an engine’s combustion energy is consumed for cooling. Carnot is developing engine technology that eliminates energy loss during the cooling process and dramatically increases thermal efficiency and fuel efficiency by using highly heat-resistant materials. The engine now under development by Carnot, has the potential to improve fuel efficiency by 20%-40% compared to conventional engines.

Based on the results of demonstration tests and the feasibility of this technology, MOL will consider applying it to its fleet of merchant vessels in the future.

Conceptual diagram of an engine developed by Carnot
that increases thermal efficiency by eliminating energy losses during the cooling process

MOL Group has placed initiatives to address sustainability issues at the core of its “BLUE ACTION 2035” management plan, aiming to achieve sustainable growth that contributes to social issues and addresses environmental issues. Through its investment in Carnot, the group aims not only to reduce greenhouse gas (GHG) emissions and pursue economic efficiency in its operated vessels, but also to contribute to GHG reductions in the shipping industry and other industries that rely on internal combustion engines.