Introduction
When you think of air pollution, what images come to mind? A congested highway full of cars? A derailed train in an explosion of smoke? What about a ship at port?
Massive container ships around the world pollute the air on a regular basis. The Ports of Long Beach and Los Angeles, two of the busiest ports in the U.S., produce more than 100 tons of smog and other contaminants every day. The impact is roughly equal to that of 6 million cars on the roads across the region each day.
Greener Process Systems aims to tackle this issue using ship emissions capture technology. KingsCrowd interviewed company CEO and director Matt Sweetwood to learn more about its innovative approach to reduce maritime emissions.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.
Funding Round Details
- Company: Greener Process Systems
- Security Type: SAFE
- Valuation: $15,000,000
- Min Investment: $500
- Platform: Raise Green
- Deadline: Jul 27, 2023
In your own words, how would you describe your company?
Greener Process Systems has developed a patented ship emissions capture technology, SETH, which reduces, to near zero, pollution from docked oceangoing ships (freighters, cruise ships, ferries, etc.) in urban areas near ports. Our patented systems have industrial applications also, as in glass, food, paint, cement factories, etc. These systems can capture carbon dioxide and produce significant energy (electricity) from waste heat recovery.
Our technology creates alternative energy sources and improves health conditions for everyone with an emphasis on underserved communities.
What inspired you to take the leap and start this company?
I have had a career in more traditional businesses, including a 25-year run in an electronics business that I successfully exited in 2015. I have had the opportunity to manage several other companies and nonprofits as well since then. When I saw the technology that Greener has — innovations that could improve the environment and health conditions of millions — as well as our brilliant engineers, I had to step back into a permanent leadership role.
What is driving the demand for your product?
Environmental regulations for air pollution reduction in both maritime and industrial industries will require significant investment over the next decade. And with the cost of electricity rising, our unique technologies — which combine air pollution reduction, carbon dioxide capture, and alternative energy supply through waste heat recycling — will propel Greener’s success for many years to come.
Who can benefit from your product and how?
Underserved communities, which in many cases live in larger cities with ports or industry nearby, will have cleaner air to breathe. The reduction in fossil fuel air pollution and increased efficiency benefits everyone.
What does the competitive landscape look like, and how do you differentiate?
Our technologies compete and work side-by-side with the electrification of ports and the use of alternative fuels. The cost of electrification is much greater than the use of our systems and is much harder to achieve. Alternative fuel usage on a wide basis is decades away from making a significant impact.
How do you intend to use the money you raise this round to scale the business?
We are a technology company and a systems integrator. Funding for our company will allow us to file several more patents on technology (currently trade secrets), and staff our company with more engineers and business development personnel to be able to handle the large influx of demand for our engineering services and deployment of our technologies.
We look forward to seeing where Matt and his team take the company. Greener Process Systems is raising on Raise Green.
