Thursday, February 29, 2024

Fortune 500 Companies Including Schneider Electric Sign On As Launch Partners for Hydrofoil Container Ship ARGO By Boundary Layer Technologies

Boundary Layer Technologies announced today that key Fortune 500 companies will become launch partners for their zero-emission freight service launching in 2025. The only-of-its-kind service will operate high-speed, hydrogen-powered cargo ships called ARGO. The ships will offer zero-emission transit alternatives to air freight at half the price, with only one day increased transit time door- to-door. 

As launch partners, the companies have signed letters of intent for freight and will receive first rights to block space when it becomes available. They will primarily use the service to reduce their use of air freight along key Intra-Asia trade lanes.

“Air freight represents a significant portion of our logistics costs and emissions. Having an alternative that allows us to reduce both aspects without compromising on speed of transit will be a game changer for our supply chain”, says the VP of Logistics Asia Pacific at an industrial conglomerate who has signed on as launch partner.

ARGO will be powered by green liquid hydrogen and fuel cells, emitting zero CO2 into the atmosphere during operation. For companies like Schneider Electric, a signatory of the Climate Pledge that has committed to reaching end-to-end carbon neutrality by 2040 and net-zero by 2050, reducing air freight with this alternative is an effective way to reduce tons of CO2 from their annual carbon footprint.

According to Marcus LeMaster, Global Director of Logistics Sustainability at Schneider Electric, “We recognize that new technologies like ARGO play an important role in reducing our carbon emissions, especially in hard to abate sectors like air transportation. As launch partners, we look forward to supporting [BLT] as they bring this product to market.” 

Emissions benefits aside, other Fortune 500 launch partners are equally excited by the business case ARGO offers to improve their logistics operations. “The timing for ARGO fits very well within our internal strategy and allows us to address several issues we’re experiencing with ports and trucking”, says the Senior Director of Global Transportation for a major electronics manufacturer. “If the BLT team can deliver on having the vessel operational by 2025, we could immediately plug this in to support our inbound materials and finished goods network in Asia.”

Ed Kearney, CEO of Boundary Layer Technologies, believes nearly every Fortune 500 company using air freight in Asia will eventually need ARGO. “Our recent partnerships mark a significant step towards realizing our vision of launching the world’s first high-speed, zero-emissions freight service using hydrofoil container ships. From here, we are singularly focused on getting our first vessel ready to load containers for our launch partners by Q1 2025. In addition to these launch partners, we are also in advanced discussions with many other large corporations spanning the verticals of computer manufacturers, medical equipment suppliers, consumer electronics, and automotive OEMs. This really demonstrates the breadth of problems ARGO is already solving around the world.”

The first vessel will be launched into operation in Asia by 2025 and will have a gross payload capacity of 200 tons or 20 TEU. It will operate at a cruise speed of 40 knots, enabled by the company’s proprietary hydrofoil technology. The exact routes for service will be selected with their launch partners over the coming months, but key port cities under consideration include Singapore, Hong Kong, Shanghai, Tokyo, and several Southeast Asian cities.

About Boundary Layer Technologies

Boundary Layer Technologies is a marine technology company transforming global shipping with zero-emissions hydrofoil container ships. The company’s cargo ship, ARGO, will be hydrogen-powered and travel at twice the speed of conventional container ships. BLT is backed by world-class investors, including Lower Carbon Capital, Fifty Years, Y Combinator, and Facebook CTO Mike Schroepfer. 

About Schneider Electric

Schneider Electric’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management for homes, buildings, data centers, infrastructure, and industries. 

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive, and Empowered values. 

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