Bulgarian fuel saving firm 13 Mari was crowned this year’s winner at the finals of the maritime pitch competition, The Captain’s Table, yesterday in Hong Kong.
13 Mari’s solution consists of the application of a composite element glued to the hull. Placing 15 to 30 such elements to the ship’s hull produces 10% faster water flow across the hull and a consequent 20% less drag, the company’s presentation to judges in Hong Kong claimed yesterday.
The European firm, praised by judges for its attractive returns on investment and potential scalability, takes home a cash prize plus 12 months of free legal support from HFW, social media support and business introductions from Lloyd’s Register, business coaching from HFW Consulting and fundraising advice from Betatron Venture Group.
Previous winners of the competition have gone on to massively scale up their business operations.
“We are dedicated to providing a platform for shipping start-ups to reach the industry participants to transform and to help to solve the industry’s core problems,” commented Tabitha Logan, co-founder of the event.