ATHENS, Greece, March  26, 2025  (GLOBE NEWSWIRE) -- Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), an international owner of ocean-going vessels, today announced its participation as a Founding Member of the newly established MIT Maritime Consortium, joining forces with the American Bureau of Shipping (ABS) and HD Korea Shipbuilding & Offshore Engineering. This pioneering international collaboration between academia and leading maritime stakeholders is dedicated to developing cutting-edge technologies aimed at enhancing industry competitiveness while reducing environmental impact.

This new international consortium brings together academic and maritime industry leaders, developing new technologies for nuclear propulsion and alternative fuels, data-powered strategies for efficient operation and decision making, autonomy and cybersecurity, as well as on-board manufacturing of spare parts. By addressing climate-harming emissions in the maritime shipping industry - which currently transports 90% of world cargoes, while contributing 2% of global energy-related CO2 emissions - this initiative supports compliant, environmentally friendly operations aligned with the decarbonization goals set by the International Maritime Organization.

Together the members aim to explore new designs that meet the economic, technological and environmental requirements of commercial shipping, assess the feasibility of alternative fuels, develop data-driven algorithms, and enhance autonomous platforms focused on climate, sustainability, AI and AR for manufacturing. The MIT Maritime Consortium’s Founding Members include the American Bureau of Shipping (ABS), Capital Clean Energy Carriers Corp., and HD Korea Shipbuilding & Offshore Engineering. Innovation Members include Foresight-Group, Navios Maritime Partners L.P., Singapore Maritime Institute, and Dorian LPG.

Prof. Themis Sapsis, Director of the Center for Ocean Engineering at MIT stated, “This consortium envisions to develop novel engineering solutions towards ship decarbonization, such as nuclear propulsion, advanced data analytics and autonomy, sophisticated cybersecurity frameworks, novel hydrodynamic advancements, and 3D printing technologies, that will create competitive advantage for companies and organizations. “It is an effort that will bring the latest and greatest from MIT, catalyzing synergies between participating companies and almost every department in the School of Engineering, and in close collaboration with the Schwarzman College of Computing, while elevating our programs in technology and policy, which is an essential ingredient for this type of effort,” Sapsis said.

“This consortium brings a powerful collection of significant companies that, together, has the potential to be a global shipping shaper in itself,” said Christopher J. Wiernicki, ABS Chairman and CEO. “The members are all world-class organizations and real difference makers. The ability to harness their experience and know-how, along with MIT’s technology reach creates real jet fuel to drive progress. As well as researching key barriers, bottlenecks and knowledge gaps in the emissions challenge, the consortium looks to enable development of the novel technology and policy innovation that will be key. Long term, the consortium hopes to provide the gravity we will need to bend the curve to reach emissions objectives”.

As a Founding Member of the Consortium, Capital Clean Energy Carriers Corp. hopes to play a pivotal role in providing operational expertise and real-world insights from its diverse fleet, which includes various vessel types and technologies. This collaboration aims to drive innovation, establish robust standards, and shape forward-looking policies. By leveraging these insights, along with consortium members, CCEC, will look to contribute to the development of enhanced AI-driven models and technological solutions aimed at optimizing ship efficiency, improving predictive maintenance, and advancing autonomous decision-making.

“At Capital Clean Energy Carriers Corp., we are spearheading the advancement of cutting-edge technologies in the global maritime industry for a more energy-efficient, safer, and sustainable shipping industry. We firmly believe that the newly founded Maritime Consortium will drive transformative change, fostering innovation in maritime practices, strengthening resilience against challenges, and paving the way for a more sustainable future,” Jerry Kalogiratos, Chief Executive Officer of CCEC commented. CCEC’s participation in the Maritime Consortium is a milestone that underscores the company’s unwavering commitment to cleaner energy solutions shaping a greener future for the industry.

“We are pleased to jointly demonstrate HiNAS [Hyundai intelligent Navigation Assistant System] with Capital as part of our efforts to advance AI-based autonomous navigation. We will initiate integrated verification of various solutions developed in collaboration with Avikus. Through our involvement in this consortium, we aim to set global technology standards and spearhead the development of next-generation eco-friendly ships that are both cost-efficient and dependable,” said Mr. Chang Kwangpil, CTO of HD Korea Shipbuilding & Offshore Engineering.

Learn more about the Maritime Consortium at MIT Maritime Consortium – Maritime Research at MIT: maritime.mit.edu.

AboutCapitalCleanEnergyCarriersCorp. Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), an international shipping company, is one of the world’s leading platforms of gas carriage solutions with a focus on energy transition. CCEC’s in-the-water fleet includes 16 high specification vessels, including 12 latest generation LNG/Cs and four legacy Neo-Panamax container vessels, one of which we have agreed to sell within the first quarter of 2025. In addition, CCEC’s under construction fleet includes six additional latest generation LNG/Cs, six dual-fuel medium gas carriers and four handy liquid CO2/multi-gas carriers, to be delivered between the first quarter of 2026 and the third quarter of 2027.

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Source: Capital Clean Energy Carriers Corp.