Newlight, a California-based maritime energy technology startup, has raised $9 million in seed funding. The round included participation from lomarlabs, BIRD Energy, Undeterred Capital, CiRi Ventures and Fusion VC.
Led by co-founders Haran Cohen Hillel, CEO, and Evyatar Cohen, VP and COO, Newlight develops hydrogen-injection retrofit systems for existing commercial ship engines. The system combines hydrogen injection with real-time combustion controls to reduce the amount of diesel required without replacing the vessel’s existing engine. The company is based in Alameda, California.
Newlight recently completed the first long-range commercial voyage using its hydrogen-hybrid system aboard a Lomar Shipping bulk carrier. During the 8,500-nautical-mile journey from Singapore to Ghana, tests showed a 24% reduction in fuel consumption and a 28% reduction in carbon dioxide emissions, according to Newlight and lomarlabs.
The company has also signed commercial agreements covering 12 vessels across multiple shipping companies. Its retrofit is designed for installation on existing vessels without requiring engine replacement or dry docking.
