Fredrik, you are the CEO of Echandia, a greentech company that develops advanced and efficient battery systems for maritime applications. What are your thoughts on the speed of the transition from fossil to fossil-free fuels, and what could accelerate the pace?
I am completely convinced that the pace of the transition towards reduced use of fossil fuels in the maritime transport sector will continue to increase. We see, among other things, that the EU and IMO (International Maritime Organization, a UN body) are introducing initiatives to reduce the use of fossil fuels in both the short and long term. For example, before the end of the year, the EU decided that for all maritime traffic (above a certain size) that transports goods and cargo within, to and from Europe, the entire journey's CO2 emissions will be part of the EU's emissions trading system (EU ETS). Then there are regional initiatives, where Norway is one of the pioneering countries with initiatives for Norwegian-flagged ships and Norwegian waters. Among other things, the goal is that ferries and cruise ships sailing in the Norwegian fjords should be emission-free from 2026.

In this development, we see that battery technology is one of the technical solutions that will play a major role in accelerating the pace of the transition, and this in various ways. We are already seeing today that, as far as possible, there is a move towards both hybrid solutions and fully electrified vessels depending on the area of use, and this is a trend that is continuing. We also see that the size of battery systems is generally getting bigger and bigger. At Echandia, we are noticing this through more business inquiries, from several different customers and for different segments. We also see that the size of the battery systems in the inquiries we receive is growing.

What major obstacles do you foresee for this transition?
Looking back in time, the maritime industry is conservative, and there are explanations for this. The systems on board must be robust and function, around the clock and in all weathers, both in the middle of the Pacific Ocean and in port. A ship's lifespan also plays a role here. With a lifespan of 25-35 years, it takes a long time before ships are replaced and modern technology can be installed. However, we also see that the regulations have an effect and that many shipowners are taking their responsibility to reduce environmental impact, and this often goes hand in hand with reduced operating costs. There are various solutions available today for the transition, where the installation of battery systems is one of the most effective and long-term solutions.

What is your opinion on what the maritime transport sector will look like in 2030 and 2050?
In 2030, there will be a mix of vessels with forward-looking technology, by which I mean vessels with reduced use of fossil fuels through hybrid solutions with batteries, as well as some older vessels with the standard we have had for the past ten years. In certain segments, such as smaller car and passenger ferries, most of the vessels will be electrified. We will also see that the vessels that are newly built in the future are more energy-efficient and have batteries installed.

If we look towards 2050, we will see a completely different picture. By then, the maritime transport sector that transports goods, passengers and cargo to and from the EU must be completely climate neutral. This will mean that we will see different solutions, ranging from autonomous vessels to different non-fossil fuels and fully electric vessels. The fully electric vessels will get their energy from different systems on board, ranging from fuel cells to batteries. But one thing is clear, regardless of hybrid solution in some form or fully electric, a larger battery will always be installed. And the requirements for battery installation will be higher than they are today, especially with regard to safety and robustness.