Eniram, a Finnish startup, helps the maritime industry to save fuel, emissions and money. The company, based in Helsinki and established in 2005, currently employs forty people and has seen good growth during the last years.
Eniram uses IT in an old industry. They integrate their measurement system in ships, and with a simple UI the crew can optimize the performance of their ship. Installation takes two days and can be done on the water during operation, so it doesn’t hinder the driving of the ship. It can be installed on all kinds of vessels, from passenger to container ships. Annual savings of up to USD 400k can be made per ship, and payback times vary between two and fourteen months.
The Eniram system is installed on-board, where it collects and analyses data for immediate optimization of the vessel, for example, lowering the bow and being able to drive faster and using less fuel. Ashore, the data is collected at Eniram’s data centre, where long term optimization can be analyzed, for example, when it is time to scrub the hull.
Eniram had Tekes funding, and has gone through two funding rounds; in the first round, a Finnish investor put EUR 1m into the company and, in the second, a Norwegian investor provided EUR 4m. As Aki Luukkainen, the VP of Marketing and Operations noted, “raising money is complex and takes much resources” and while the company is not currently looking for further funding, they are “open to suggestions”.
Eniram offers a similar product as GreenSteam about whom we wrote yesterday. Eniram has the advantage of already being a healthy company with good growth, that has about forty of its systems installed on vessels. Luukkainen noted that they were the first to come out with this idea, and that they are now slowly seeing competitors appear, which he welcomes as it means there is good business to be done.