Incorporating Cetasol’s Singapore company

Gothenburg, Sweden – [Oct 17th 2024] – Cetasol, a Swedish innovative software company, is expanding globally. With an increased interest in iHelm in the Singapore market, Cetasol has now incorporated a new, fully-owned subsidiary in Singapore, Cetasol PTE. LTD. With the large maritime industry in Singapore and the interest in energy management and insights, this marks a strategic decision in the growth of Cetasol.

Cetasol is a Gothenburg-based deep tech/green company that develops intelligent solutions to support and accelerate maritime sustainability. By making sustainability a simple choice, they can accelerate sustainability in the maritime industry. The core product- iHelm - is an AI-based solution that provides insights, actionable recommendations, and support in energy, time, and money saving. iHelm is more than a visualization tool, it is the optimization tool for your entire fleet.

iHelm is a dynamic solution that learns from the operation. It is an optimization tool for entire fleets that automatically models operations as a result of the AI. The solution will support operations to save fuel and money and gain deeper insights and understanding of the operations. When acting upon the recommendations provided by iHelm, fuel savings of 10-25% is possible.

Movement towards expansion

Last year Cetasol was accepted to the Business Accelerator Program Southeast Asia by the Swedish Energy Agency. It is an accelerator program for energy solutions that are ready for export and expansion. To be accepted to the program, a strong energy and sustainability profile is needed as well as ambition and resources for a launch in Southeast Asia. Cetasol was accepted into the program with a focus on expanding in Singapore.

In the most recent investment round, Cetasol secured investment from the Singaporean company Shipsfocus. ShipsFocus is a venture studio and VC fund to develop startups with practical solutions that generate high recurring value in maritime commerce. It operates at the fringe rather than the center as futurist system thinkers, designers, and developers of digital platforms, aiming to transform the maritime supply chain into a digital one.

This year Cetasol has been a part of the Pier71 Smart Port Challenge. Pier71 is a platform that brings together innovative thinkers, experts, technology, entrepreneurial know-how, and investment opportunities. The platform aims to reimagine solutions for maritime.

Resulting in a new chapter

All of these actions have naturally led to this expansion, as well as the strong maritime presence in Singapore. Singapore's strategic importance as a global maritime hub makes it a key location for Cetasol’s expansion. As one of the busiest ports in the world, Singapore handles a significant portion of global shipping traffic, with thousands of vessels passing through its waters daily. This creates an ideal environment for Cetasol’s innovative software solutions, designed to optimize energy consumption and reduce emissions.