TLDR: London-based Signol secures €2.9 million to reduce emissions in legacy industries
– Signol, a sustainability startup, has raised €2.9 million to reduce emissions in shipping and aviation industries
– The investment round was led by TMV, with participation from Ultranav and MOL PLUS
– Signol’s tech-enabled behavior change service has saved over 100,000 metric tonnes of CO2 in shipping and aviation
– The startup will focus on enhancing its solution and implementing a proof-of-concept in the corporate travel sector
– The goal is to leverage behavioral science to achieve sustainability targets in legacy industries
Sustainability startup Signol has secured €2.9 million in funding to reduce emissions in legacy industries such as shipping and aviation. The investment round, led by TMV and with participation from Ultranav and MOL PLUS, aims to help hard-to-abate industries fully engage their workforce in reducing emissions through daily tasks. Signol has already saved more than 100,000 metric tonnes of CO2 by optimizing human decision-making without physical changes to ships or aircraft.
Following the funding, Signol plans to focus on enhancing its solution and increasing commercial traction in the aviation and shipping industries. The startup will also implement a proof-of-concept in the corporate travel sector to reduce avoidable emissions from business travel. Signol’s CEO, Michael Fanning, believes that securing investment from industry leaders confirms the importance of a human-centric approach in sustainability strategies.
Signol harnesses the power of behavioral science to achieve sustainability targets, with reductions in fuel consumption up to 1% in aviation and 12% in shipping. TMV’s co-founder, Marina Hadjipateras, emphasizes the importance of investing in solutions that can immediately improve the sustainability and efficiency of legacy industries like shipping. Ultranav’s Per Lange also highlights the significance of engaging the human workforce in efficiency initiatives without adding to their workload or stress.
In conclusion, Signol’s innovative approach to reducing emissions in legacy industries through behavioral science has garnered significant investment and industry support. The startup’s focus on engaging the human workforce to drive sustainability practices is seen as a critical lever in achieving environmental targets and promoting efficiency in sectors responsible for a significant portion of global emissions.
