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- Rose Cay Maritime Hits Milestone with 100th Hire Amid Energy Transition Efforts
Original article in PR Newswire NEW YORK, Sept. 6, 2022 -- Rose Cay Maritime (RCM), a pioneering Jones Act-compliant maritime company, celebrated its 100th employee within its first year, marking a significant growth phase. This period saw the company lead the revival of a fleet of dormant vessels, involving 11 dry-dockings and collaborations with eight U.S. shipyards. This effort not only represented a major economic boost but also supported hundreds of American jobs, positioning RCM to aid renewable fuel producers and major energy firms during a critical time for the U.S. energy landscape. RCM, known for its comprehensive energy logistics services for top corporations and government entities, operates with an all-American fleet under the Jones Act. This fleet is owned, built, crewed, and flagged in the U.S. The company's team, including its advisory committee, brings extensive experience in maritime operations, logistics, infrastructure, and investments. Alex Parker, RCM's Managing Partner, expressed pride in the company's rapid advancement: "In just one year, our team has established a leading maritime logistics company poised to support the Energy Transition. Through hard work and perseverance, we acquired, refurbished, and relaunched a core fleet of U.S.-made, flagged, and crewed Jones Act vessels," Parker stated. "Today, thanks to our employees, we are a trusted provider of safe and reliable transportation services to the world's largest energy companies and governments. We will continuously strive to improve and harness our entrepreneurial prowess to provide critical energy infrastructure to America." RCM sets new standards in Jones Act shipping with its focus on safety, customer service, and environmental awareness, acting as a strategic partner in the rapidly changing energy and logistics sectors. As renewable fuels gain prominence in the U.S. energy transition, RCM plays a vital role in transporting cargoes across major U.S. coasts, including from the Gulf to the West Coast, emphasizing carbon emission reduction. The company's fleet, notably active in New York Harbor, offers an environmentally efficient transport alternative to truck or rail, crucial for regional energy distribution and supporting communities during disruptions from wars, natural disasters, or infrastructure gaps. RADM Mark H. Buzby, USN (Ret), a former Maritime Administrator, highlighted the team's achievements: "I am proud to be a part of the team that helped strengthen the U.S.-flagged fleet by bringing these Jones Act qualified vessels back into service," Buzby said. "Our focus has been to build a team of professionals ‑ afloat and ashore ‑ who are focused on safety, efficient operations, and doing it right, no shortcuts." Josh Trump, Managing Director at Contrarian Capital Management, praised RCM's restoration of their fleet: "We are very pleased to have partnered with the Rose Cay Maritime team to return our fleet to service at a time when the U.S. energy complex is in need of more reliable, environmentally conscious operators of coastwise vessels," he said. "With producers of biofuels increasingly in need of vessels to transport product across the country we are excited about the opportunity that lies ahead and Rose Cay's ability to be the industry's provider of choice." RCM's adaptability to market changes, foundational stability, and expertise in maritime and regulatory matters position it as a leader in Jones Act operations, ready to face current and future energy supply challenges.
- Carbon Sink LLC and Rose Cay Maritime Partner to Boost Green Methanol in Shipping
ARLINGTON, VA, July 19, 2023 — Carbon Sink LLC, a leading developer of green methanol, and Rose Cay Maritime, LLC (RCM), a forward-thinking Jones Act-compliant shipping firm, have announced a strategic partnership aimed at advancing the use of low-carbon fuels in the maritime industry. This Memorandum of Understanding marks a significant step towards enhancing green fuel production, transportation, and storage for the shipping sector. RCM's expertise will enable Carbon Sink to efficiently distribute its green methanol to customers, facilitating a smoother supply chain as Carbon Sink ramps up production across the U.S. Alex Parker, CEO of RCM, emphasized the synergy between the two companies: “Carbon Sink is a leader in the creation of state-of-the-art green methanol plants that will help drive a material shift in the shipping industry's decarbonization initiatives that aligns with Rose Cay’s sustainability goals. Together, we look forward to providing much-needed green methanol production and supply chain solutions to meet growing demand from the ambitious decarbonization goals of the maritime industry.” With over 220 methanol-capable ships already operational or in development, the demand for green methanol exceeds 6 million metric tons annually. Carbon Sink has also committed to supplying A.P. Moller-Maersk with 100,000 tonnes of green methanol yearly from its first plant, set to begin production in 2027, with Maersk agreeing to buy the entire output and considering future purchases from Carbon Sink's upcoming facilities. Steve Meyer, CEO of Carbon Sink, shared his enthusiasm about the partnership: “Rose Cay Maritime is the ideal partner to help Carbon Sink deliver our carbon-neutral fuels to our customers. Their industry knowledge and leadership in advancing the maritime energy transition will enable us to better serve the market as we expand our production capacity.” About Carbon Sink Carbon Sink specializes in creating major projects that transform CO2 emissions from industries into eco-friendly fuels and chemicals through the use of existing technologies. Providing solutions that range from carbon-neutral to carbon-negative, the company aids chemical and transport businesses in complying with regulations and catering to the increasing demand for sustainable goods and services. For more information, please visit www.carbonsinkllc.com. About Rose Cay Maritime Rose Cay Maritime provides essential energy supply-chain services to Fortune 100 companies and governments. RCM is leading the energy transition by transporting conventional and renewable fuels via its Jones Act-compliant fleet of U.S.-owned, built, and crewed vessels. Its management team and advisors include experts in maritime operations, safety, supply-chain logistics, data analytics, regulatory compliance, and strategic investments. RCM offers Jones Act compliant technical management, crewing, and supply chain logistics services. For more information, please visit www.rcmaritime.com. Investor and Media Contact Jim McVaney, 800.583.5223 ext. 2 or JIM@CarbonSinkLLC.com Rose Cay Maritime Contact Joel Fine, 832.388.3013 or JJFine@RCMaritime.com
- Rose Cay and ZeroAvia Join Forces to Accelerate Zero-Emission Air Travel by Funding Hydrogen-Electric Powered Aircraft
Original Press Release on PR Newswire, posted on November 9, 2021 ZeroAvia, a pioneering company in zero-emission aviation, has teamed up with Rose Cay GP, LLP, an investment platform specializing in real assets, to finance the development and deployment of hydrogen-electric powered aircraft. This partnership aims to fast-track the introduction of zero-emission planes by leveraging Rose Cay's investment in aircraft and infrastructure, alongside ZeroAvia's innovative hydrogen-electric powertrain technology. Alex J. Parker, Managing Partner at Rose Cay, emphasized the firm's commitment to a sustainable airline industry, stating, "Rose Cay is committed to the Energy Transition and development of a sustainable, zero-emission airline industry. Rose Cay is uniquely poised to leverage both our experience in infrastructure investments as well as aircraft financing to enable ZeroAvia to deliver its hydrogen-electric technology. By converting existing aircraft, we can minimize lifecycle environmental impacts, while concurrently accelerating zero-emission hydrogen aircraft entry into service. We are delighted to work with ZeroAvia for the long term, as a leader in the development of zero-emission aircraft." The collaboration will focus on acquiring and converting existing aircraft to use ZeroAvia's zero-emission technology, ensuring a quicker market introduction. Val Miftakhov, CEO and founder of ZeroAvia, highlighted the benefits of this approach: "Working with Rose Cay will help us deliver zero-emission aircraft to market in the shortest time frame. By acquiring, converting and leasing, stored available aircraft we can ensure operators can take advantage of our zero-emission powertrain technology without having to wait for new aircraft to be built. In addition, having Rose Cay supporting infrastructure projects ensures we can deliver a robust in-service support network." ZeroAvia has made significant progress, recently conducting successful ground tests of its 600kW powertrain on a 19-seat aircraft and moving towards full-size prototype manufacturing of its ZA2000 engine family, set for flight testing in 2023. About ZeroAvia ZeroAvia is a leader in zero-emission aviation, focused on hydrogen-electric aviation solutions to address a variety of markets, initially targeting 500 mile range in 9-19 seat aircraft used for commercial passenger transport, cargo, agriculture, and more. Based in the UK and USA, ZeroAvia has already secured experimental certificates for two prototype aircraft from the CAA and FAA, passed significant flight test milestones, and is on track for commercial operations in 2024 for its 600kW engines, and 2026 for its 2,000-5,000kW engine platform. The company's expanding UK operations are supported by grants from UK's Aerospace Technology Institute and Innovate UK, and ZeroAvia is part of the UK Prime Minister's Jet Zero Council. For more information, please visit ZeroAvia.com and follow @ZeroAvia on Twitter, Instagram, and LinkedIn. About Rose Cay Rose Cay GP, LLC ("Rose Cay") is a real asset special situations investment platform. Rose Cay targets opportunities across forward looking sectors that are poised for growth and offers a stable credit profile. Investments seek to leverage best-in-class ESG compliance, global trends, technology, and core assets to deliver long-term value.
- U.S. Maritime Sector Sees Role in Carbon Transportation for Cleaner Energy
Original article in Seatrade Maritime News The push towards alternative fuels like blue ammonia and blue methanol is generating a by-product: carbon. This necessitates innovative transportation solutions to move carbon away from the atmosphere for sequestration, particularly in depleted oil fields. U.S. maritime companies are gearing up to play a significant role in this emerging field, with a keen eye on the Gulf of Mexico for new business opportunities. In December 2023, Overseas Shipholding Group (OSG) received a significant boost with a $400,000 grant, predominantly funded by the U.S. Department of Energy, to investigate the feasibility of establishing a Tampa Regional Intermodal Carbon Hub (T-RICH) at Port Tampa Bay. This hub aims to serve as an intermediary for CO2 captured across Florida, preparing it for maritime transport to sequestration sites in the northern Gulf of Mexico. OSG envisions this facility processing two million metric tons of CO2 annually. Sam Norton, OSG’s CEO, elaborated on the project's significance, stating, “OSG’s proposed hub site at Port Tampa Bay would aggregate and store CO2 captured from emitters for loading onto specialized liquified CO2 vessels to be operated by the Company. These vessels would then deliver their cargoes to the northern Gulf of Mexico, which has the largest confirmed capacity for safe, deep, permanent underground sequestration of captured CO2.” This initiative underscores the maritime sector's pivotal role in addressing carbon emissions. Additionally, the conversation around repurposing older and smaller vessels for carbon injection tasks surfaced during a January 2024 webcast with Tidewater's CEO, Quintin Kneen. This indicates a potential shift in the utilization of maritime assets towards environmental sustainability efforts. Parallel to carbon sequestration efforts, the maritime industry is also transitioning towards green methanol, a cleaner alternative that does not require carbon storage. Jones Act vessel owners like Rose Cay Maritime are aligning with producers such as Carbon Sink LLC to transport green methanol, fostering a sustainable supply chain that supports cleaner energy consumption in maritime operations. This dual approach—developing carbon transport and storage solutions alongside the shift to green fuels—highlights the maritime industry's proactive stance on environmental sustainability.