Cimco has patented a family of diesel engines designed to supplant the currently used petrol outboard engines. The test results of the engines in terms of performance, fuel efficiency, and emissions, make it a viable alternative for heavy-duty marine applications, such as polar cruises, water taxis, coast guards and rescue police.
In the marine industry, the use of diesel allows for better performance, range and fuel safety. Contrary to engines for cars, marine outboard petrol engines lack the stringent environmental regulations that apply to automotive diesel vehicles, thus creating a lack of incentive for investing in R&D for cleaner technologies. This has led to a mainstream use of highly polluting petrol outboard engines with old and inefficient technology. Cimco’s diesel engines have reached up to 42% more fuel efficiency, as well as significantly lower emissions in a test setting.
The OXE Diesel consumes 40% less (diesel) fuel than the petrol alternative. It also contributes significantly to reduced environmental impact through its emissions. Carbon dioxide is reduced by over 35%, carbon monoxide by over 99% and hydrocarbons and nitrogen oxide emissions are reduced by over 68%. European Commissioner Arias Cañete, responsible for Climate Action and Energy, said “The EU is determined to deliver on its commitments to reduce greenhouse gas emissions, and we are working with Member States on their plans to become carbon-neutral by 2050. Cimco’s outboard engine project drastically reduces emissions, while enabling the coast guard and rescue police who use the heavy-duty engines to continue carrying out their work at sea.”
“I am extremely pleased to have EIB as our funding partner. The loan will support us in meeting our growth ambitions, through investment in working capital needs, expanding production capacity and increasing our sales and marketing initiatives. Additionally, the company will use the funds to develop its product range whilst improving its efficiency, thereby lowering emission further, as well as reducing other pollutants. Our overarching goal is to continue improving the design of our belt propulsor concept with the aim of significantly reducing the carbon footprint in the high powered outboard marine segment” said Myron Mahendra, CEO of Cimco.
The European Investment Bank (EIB) has signed an agreement with the State Export-Import Bank of Ukraine (Ukreximbank) to increase the funding limit of the Deep and Comprehensive Free Trade Area (DCFTA) Support Facility project to €280 million. Additional financing, namely a €20 million loan, will be provided via a parallel cross-currency swap in Ukrainian hryvnia (UAH) and will be on-lent to local private businesses with a focus on small and medium-sized enterprises (SMEs).
The European Investment Bank (EIB) has given Safran a 500 million euro credit line to finance its research into innovative propulsion systems for the next generation of single-aisle commercial airplanes. This marks a major step forward in Safran’s roadmap to achieve carbon-free air transport.
La Banque européenne d’investissement (BEI) et la Société Nationale des Autoroutes du Maroc (ADM), chargée de construire, exploiter et entretenir les autoroutes du Maroc, ont annoncé la conclusion d’un contrat de financement de 85 millions d’euros (environ 925 millions de dirhams) pour accélérer la digitalisation des infrastructures de transport autoroutières dans le pays. Ce projet contribuera à améliorer la fluidité du trafic à travers la digitalisation des systèmes de paiement et l’installation de systèmes de télépéage. Il contribuera à réduire les coûts et le temps de voyage et renforcera la sécurité des utilisateurs tout en offrant de nouveaux services personnalisables. Cette opération prévoit également le déploiement d’un système de suivi et de gestion du trafic qui donnera accès en temps réel aux conditions de circulation sur l’ensemble du réseau autoroutier.