Fueltrax has launched a smart financing program designed to help vessel operators take advantage of Fueltrax electronic fuel management systems (EFMS) without the obstacle of an initial capital investment.

Fueltrax is the leader in EFMS systems, and has signed an agreement with Malaysia-based Vestera in which the two companies work together to help expedite the installation of the systems. Vestera is a technology-based solutions provider serving regional and international clients.

The new option enables vessel operators who have hesitated to take advantage of the cost and environmental benefits of Fueltrax systems to pay for those systems on an ongoing basis, avoiding a large upfront investment. Payment arrangements are customized to vessel operators’ specific needs.

The Fueltrax EFMS is a state-of-the-art system designed and supported by former NASA engineers. With it, global vessel operators can reduce fuel use and carbon emissions. The system is closed-loop, tamper-proof, alarm-protected and incorruptible as it measures direct fuel consumption via an array of sensors connected to highly accurate mass flow meters.

Faiz Azani, Fueltrax’s Kuala Lumpur-based Director of Operations for Southeast Asia, explained that this new approach is a response to feedback from potential clients. “Clients have been seeking a way to finance their installations, and this excellent financing model is the perfect way for them to begin enjoying the benefits of a Fueltrax system immediately,” Azani said.

Azani added that Fueltrax is open to partnerships with lenders in other regions while maintaining ongoing direct contact with customers via service agreements and renewals.

“This leasing arrangement helps both Fueltrax and Vestera tap into a specific market, particularly clients in this region with short-term contracts and those clients lacking the capital for an upfront investment or who are simply reluctant to make that investment,” said Captain Ahmad Imran, Managing Director of Vestera. “It smooths the entire process for them.”

Fueltrax and Vestera launched the program at a recent event in Kuala Lumpur, where they signed a memorandum of understanding.

Source: BUSINESS WIRE