{"id":24564,"date":"2024-12-30T11:19:03","date_gmt":"2024-12-30T11:19:03","guid":{"rendered":"https:\/\/shipip.com\/?p=24564"},"modified":"2024-12-30T11:19:03","modified_gmt":"2024-12-30T11:19:03","slug":"balancing-profit-with-purpose-how-firms-create-sustainable-ecosystems-in-maritime-and-food-waste-industries","status":"publish","type":"post","link":"https:\/\/developmenttask.com\/ShipIpLtd\/balancing-profit-with-purpose-how-firms-create-sustainable-ecosystems-in-maritime-and-food-waste-industries\/","title":{"rendered":"Balancing profit with purpose: How firms create sustainable ecosystems in maritime and food waste industries"},"content":{"rendered":"

Through innovative green solutions, Pyxis Maritime and Life Lab Resources are reshaping how ships operate and food scraps are managed \u2013 driving a circular economy that benefits both business and the environment<\/p>\n

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At the historic Clifford Pier where wooden\u00a0tongkangs<\/em>\u00a0once plied the Singapore River, a new chapter in maritime history unfolded earlier this year.<\/p>\n

It was here that Tommy Phun\u2019s grandfather steered his boat through the bustling waters decades ago. Standing at the same pier in March, Phun launched something radically different:\u00a0Pyxis Maritime<\/a>, a start-up powering Singapore\u2019s maritime future with fully electric vessels.<\/p>\n

\u201cThis place represents both our heritage and our future,\u201d said Phun, whose family has spent generations in maritime services through their company Eng Hup Shipping.<\/p>\n

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But Pyxis Maritime signals a departure from tradition. \u201cWe\u2019re not just extending the family business \u2013 we\u2019re transforming the industry itself,\u201d he explains. The start-up has rallied 13 maritime companies, from vessel owners to shipyards, representing a combined fleet of 250 coastal vessels, behind a single mission: to overcome the decarbonisation challenge.<\/p>\n

An industry effort to decarbonise and electrify<\/h2>\n

Increasingly, in tenders for maritime services, both public and private clients are asking for green credentials as a basic qualifier. Phun notes: \u201cIf you\u2019re not green, you won\u2019t be considered.\u201d<\/p>\n

The regulatory backdrop has also shifted. Under domestic targets set by the Maritime Port Authority of Singapore (MPA), all new harbour craft must be fully electric, capable of using biofuels or be compatible with net-zero fuels from 2030 onwards.<\/p>\n

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Older veterans in the blue industry have hopped on board with the electrification move. As part of his pitch to them, Phun highlighted the financial benefits \u2013 electric vessels not only cost less to operate but also slash maintenance expenses thanks to their simplified mechanics compared to diesel-powered craft, delivering both immediate and long-term savings for fleet managers.<\/p>\n

One positive change was how much quieter electric vessels were. The older generation of sailors used to the whine and rattle of diesel engines had developed booming voices to compensate for their loud working conditions. Now the old guard can enjoy sailing in relative quiet.<\/p>\n<\/div>\n

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Pyxis R, an electric passenger vessel designed to ferry sightseers, operating in Singapore\u2019s waters. PHOTO: PYXIS MARITIME Photo: Pyxis Maritime<\/figcaption><\/figure>\n<\/div>\n<\/div>\n
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Pyxis Maritime is currently offering three variants of electric vessels. Pyxis One is a commercial harbour craft designed to transfer crew between the ship and the shore when ocean-going vessels anchor in Singapore. Pyxis R is an electric version of the bumboats used to ferry sightseers along Singapore\u2019s waterways, with solar panel panels mounted on its flat roof. Pyxis L is a luxury variant with more premium interior fittings.<\/p>\n

Other than a vessel supplier, Pyxis Maritime is also pursuing a vertically integrated business model. It offers a vessel management platform called Electra. This proprietary software allows vessel owners to monitor their craft remotely, showing data like charging percentage, battery health and equipment status. This data can alert vessel owners when to maintain their vessels and improve the lifespan and productivity of their craft.<\/p>\n

Together with SP Mobility, Pyxis Maritime has launched a public marine charging station at Marina South Pier. This two-year pilot scheme provides a 150-kilowatt direct current fast charger, which can charge the Pyxis One within three hours.<\/p>\n<\/div>\n<\/div>\n

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Pyxis Maritime\u2019s Electra platform allows vessel owners to monitor their electric craft\u2019s battery status and performance in real time. Photo: Pyxis Maritime<\/figcaption><\/figure>\n<\/div>\n<\/div>\n
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Activating an entire eco-system to spur change<\/h2>\n

Phun hopes that by providing a holistic and integrated solution to vessel owners, Pyxis Maritime can spur faster adoption of green technology by conservative maritime operators.<\/p>\n

\u201cWe developed this eco-system because it\u2019s important to have the infrastructure in place,\u201d Phun explains. In addition to building a coalition of like-minded industry players, Pyxis Maritime has attracted funding from venture capital partners like Shift4Good, Motion Ventures, Transport Capital and Seeds Capital. The company has also secured financing support from OCBC to help fuel its growth.<\/p>\n

Life Lab Resources<\/a>\u00a0(LLR), recipient of this year\u2019s Most Promising Sustainability Startup Award, is also building a new ecosystem to tackle food waste and enhance food security in Singapore. It stands out in Singapore\u2019s sustainability landscape through a carefully designed ecosystem that ensures viability at every step of the waste-to-value chain.<\/p>\n

While many circular economy initiatives have struggled to maintain long-term sustainability, LLR\u2019s approach is different. The model creates clear value for each participant. Restaurants and hotels reduce collection frequency and eliminate pest problems through on-site waste treatment, farms gain access to cost-effective, sustainable feed and the company itself maintains viability through its technology and processing operations.<\/p>\n<\/div>\n<\/div>\n

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A row of WasteMaster machines at Life Lab Resources\u2019 facility, where food waste is treated using reactive oxygen technology. Photo: Life Lab Resources<\/figcaption><\/figure>\n<\/div>\n<\/div>\n
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LLR operates a unique business straddling food sellers and food producers. Restaurants and food catering companies buy or lease its proprietary WasteMaster machine, which uses reactive oxygen technology to treat mixed food waste on-site.<\/p>\n

This reduces the weight of the waste by up to 80 per cent, while retaining nutritional value and eliminating harmful pathogens. This leads to less frequent collection, more efficient processing and fewer problems with pests and smells.<\/p>\n

The treated waste is then collected by Life Lab Resources and processed in a biorefinery plant, where it is converted into microbial protein. This microbial protein is then pelletised into feed for fish or livestock and sold to local farms, which sell its produce back to restaurants and food caterers.<\/p>\n

Because of its ability to treat mixed food waste, Life Lab Resources\u2019 business model has a high potential to scale across all sectors of the food industry. As the company grows, its successful model can help transform the food and beverage (F&B) industry to turn waste products into valuable feedstock.<\/p>\n

\u201cBy closing the loop on food production, consumption and waste, we can create a truly circular economy \u2013 right here in Singapore,\u201d says Edward Chia, managing director of Life Lab Resources.<\/p>\n

Connecting the dots in your food ecosystem<\/h2>\n

Life Lab Resources is not just a technology provider but is deeply embedded within the food and agriculture industry as a connector. It negotiates prices and supply between food sellers and food producers to make the circular economy work.<\/p>\n

Chia, who was the co-founder of entertainment and F&B joint Timbre Group, reflects that a circular economy is unlike a traditional business. \u201cWhen I used to run Timbre, we buy beer and sell beer; we don\u2019t have to deal with people elsewhere. To run a circular economy, compared to a linear style economy, it\u2019s important to get alignment from different stakeholders in the circle.\u201d<\/p>\n

These industry-alignment efforts have positioned Life Lab Resources as not just a \u201cgreen\u201d company but a catalyst for change in the F&B sector.<\/p>\n

Life Lab Resources works with restaurants from well-known hotels like Marina Bay Sands (MBS), Swissotel the Stamford and Fairmont Singapore. \u201cThey have a real motivation to be a good corporate citizen, and they are looking for solutions,\u201d says Chia. \u201cWe present ourselves to be the better solution for food waste.\u201d<\/p>\n

As for the other side of the equation, Life Lab Resources has supported local agriculture firms like Metro Farm. \u201cWe help them in three ways. We provide them with a more sustainable feed source, so there\u2019s less need for fish meal or plant meals. This reduces the degradation of bio-diversity. We hopefully provide them with a better price, since a major cost for them is feed. We also link them directly to our end-clients, helping them aggregate demand so they have consistent offtake for their produce.\u201d<\/p>\n<\/div>\n<\/div>\n

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Life Lab Resources converts treated food waste into nutritious feed pellets for fish farms, completing the circular food loop. Photo: Life Lab Resources<\/figcaption><\/figure>\n<\/div>\n<\/div>\n
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Chia\u2019s philosophy of a circular economy takes waste, something with a negative value, and realising its true value. \u201cThe focus is to achieve economic inclusivity. The value needs to be shared. As we sell the substrate, we share the revenue with upstream clients,\u201d he adds.<\/p>\n

This also incentivises upstream clients like restaurants to continue to recycle their food waste. The company\u2019s business model has shown results. \u201cThe feedback is that the vegetables are growing faster, and the chefs love the produce. it is delicious, crunchy, fresh, pesticide-free, and farmed in Singapore.\u201d<\/p>\n

With a proven concept in Singapore, both Pyxis Maritime and LLR are looking to scale their operations. Pyxis Maritime has ambitions to expand into regional markets like Japan, South Korea, Taiwan, Hong Kong, and Thailand. \u201cWe want to rapidly expand across Asia so we can transform the coastal maritime value chain,\u201d says Phun.<\/p>\n

Life Lab Resources is also looking to help other economies reduce food waste and enhance their food security. Life Lab Resources is especially eyeing Southeast Asian nations, which have strong agricultural sectors. Ultimately, the aim is to redefine food waste \u2013 not just something to be discarded, but a valuable resource soon to become food again.<\/p>\n<\/div>\n<\/div>\n

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Recognising bold ambition<\/strong><\/p>\n

Now in its 17th year, the Emerging Enterprise Awards continue to highlight the innovation, resilience and excellence of small and medium-sized enterprises (SMEs) under 10 years old. The awards are a joint initiative by The Business Times and OCBC.<\/p>\n

For the second consecutive year, applications were extended to emerging businesses across the region, broadening the awards\u2019 reach beyond Singapore.<\/p>\n

In the sustainability category, the Emerging Enterprise Sustainability Awards honour enterprises that embrace opportunities in the green economy \u2013 whether by embedding sustainable practices in their operations or leveraging technology and innovation to drive the transition to low-carbon economies.<\/p>\n

Additionally, the Most Promising Sustainability Startup Awards celebrate businesses with unique, commercially viable ideas and significant long-term potential.\u00a0Find out more here<\/a>.<\/p>\n<\/div>\n

source : https:\/\/www.businesstimes.com.sg\/events-awards\/emerging-enterprise\/emerging-enterprise-2024\/how-firms-create-sustainable-ecosystems-pyxis-maritime-life-lab-resources-food-waste-ocbc<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Through innovative green solutions, Pyxis Maritime and Life Lab Resources are reshaping how ships operate and food scraps are managed \u2013 driving a circular economy that benefits both business and the environment At the historic Clifford Pier where wooden\u00a0tongkangs\u00a0once plied the Singapore River, a new chapter in maritime history unfolded earlier this year. It was […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[155],"tags":[],"class_list":["post-24564","post","type-post","status-publish","format-standard","hentry","category-ai-artificial-intelligence"],"_links":{"self":[{"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/posts\/24564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/comments?post=24564"}],"version-history":[{"count":0,"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/posts\/24564\/revisions"}],"wp:attachment":[{"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/media?parent=24564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/categories?post=24564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/developmenttask.com\/ShipIpLtd\/wp-json\/wp\/v2\/tags?post=24564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}