Sustainability startup raises £2.5m to harness the human factor in emissions-intensive industries
Summary
Signol is a compelling proposition for industry-focused investors, due to the untapped opportunity to use behavioural science to achieve sustainability targets.To date, Signol has saved shipping and aviation companies more than 100,000 metric tonnes of CO2 by optimising human decision-making, without any technological or physical changes to ships or aircraft. The CO2 savings stem from reductions in fuel consumption up to 1% in aviation and 12% in shipping.Ultranav is delighted to support Signols efforts to ensure the shipping industry doesnt overlook the power of its human workforce as we tackle the urgent need to decarbonise, said Ultranavs Per Lange.During my 40+ year maritime career, Ive seen first-hand that its not always straightforward to appropriately engage crew members in efficiency initiatives without adding to their workload and mental stress.With a strong foundation in behavioural science, Signols solution enables crew members to contribute as much as possible to sustainability goals while also improving the day-to-day experience at sea for our vital workforce.Following the \xa32.5m investment, Signol will focus on enhancing its solution and increasing commercial traction in the aviation and shipping industries. It will also implement a proof-of-concept (POC) in the corporate travel sector, using behaviour change to reduce avoidable emissions from business travel.Michael Fanning, Signols CEO, said: Securing investment from industry-leading companies like Ultranav and MOL is a significant endorsement from the maritime industry that our human-centric approach is seen as a critical lever in companies sustainability strategies.Adding Marina Hadjipateras and Per Lange to Signols board is another huge benefit. They bring a wealth of investment and industry experience coupled with great enthusiasm for Signols purpose, which I am confident will serve to accelerate Signols growth and impactCommenting on the investment, Takuya Sakamoto, CEO of MOL PLUS, said: We have engaged in ongoing productive discussions with Signol regarding issues in the ocean shipping industry. We love their unique approach to assisting seafarers in better managing increasing workloads on board.MOL PLUS is proud to participate in Signols fundraising round to ensure the human opportunity is not overlooked.