Marine antifouling: a USD 20bn value-add
I-Tech's sole product, Selektope, is an antifouling agent used to combat the growth of barnacles on ship hulls. Having an effective antifouling solution targeting barnacles is essential for ship operators, as barnacle fouling increases drag substantially. Preventing fouling therefore saves significant amounts of fuel. Essentially all ships use some form of antifouling solution, and it is estimated by DNV that this saves USD >20bn and >100m tonnes of CO2, corresponding to 0.3% of global emissions, annually. Selektope's novel mode of action allows it to be effective at far lower concentrations than alternative biocides, which is a strong competitive edge, as there is considerable regulatory pressure to decrease biocide release into the oceans.
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