Frugal Technologies, an Aalborg, Denmark-based company that offers fuel optimization technologies that reduce energy use and emissions in shipping fleets, received an investment from Emerson (NYSE: EMR).
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate management and propulsion control and optimization expertise in its marine systems and solutions business.
Led by Peter Hauschildt, co-founder and chief executive officer, Frugal Technologies provides ship owners a product offering in propulsion efficiency and greener shipping ahead of regulations – adding intelligent on-top solutions to existing vessel control systems with all safety functions intact. With the add-on cloud-based software solution My Data, fleet performance managers get access and visibility to vessel performance data, empowering them to act and take decision on latest business intelligence.