Daily Briefing: Singapore expands LNG bunkering group amidst upcoming regulation; Temasek joins $70m funding round for US agri startup
And government grants $2.50m to four security startups.
Authorities are working on the availability of low-sulfur marine fuels amidst the upcoming emissions regulations by 2020, senior state minister for transport and health Lam Pin Min said.
“(The) MPA is working closely with the industry to ensure that Singapore is ready to supply low-sulphur compliant fuels ahead of 1 January, 2020,” said Lam at the Singapore International Bunkering Conference and Exhibition.
The International Maritime Organisation (IMO) is introducing new rules on marine fuels from 2020, limiting the sulphur content to 0.5%, from 3.5% currently, to curb pollution produced by the world’s ships.
Singapore is also continuing to promote the use of cleaner-burning liquefied natural gas (LNG) as a marine fuel, also called bunkers, at home and abroad.
Temasek backed the $96.23m (US$70m) Series B funding round led by Breakthrough Energy Ventures for US agriculture startup Pivot Bio.
Following the capital infusion, the startup will launch Pivot Bio PROVEN, which it claims are the first and only nitrogen-producing microbes in the US. The new funding will also support expanded research and development for the company’s second-generation product, a seed treatment option, as well as overseas expansion.
As part of the deal, Cooper Rinzler of Breakthrough Energy and Dheeraj Mehta, a director at Temasek, will join Pivot Bio’s board.
In total, the new sectors of life sciences, agribusiness, non-bank financial services and consumer tech constitute 26 per cent of Temasek’s portfolio, up from 5% in 2011.
The Infocomm Media Development Authority (IMDA) and the Ministry of Home Affairs (MHA) awarded $2.50m (US$1.82m) to four security-related projects as part of the MHA’s Security Industry Transformation Map that targets to modernize the security industry.
Vi Dimensions is building an automated surveillance system for seven malls that can be run 24/7 and detect threats automatically, reducing the need for security and patrol personnel. Xjera Labs is also working on automated surveillance, but its customer is Changi Airport.
UberGard is improving and even replacing the management of physical keys in premises. Meanwhile, Arkemis will pilot a security command center at various condominiums.
Do you know more about this story? Contact us anonymously through this link.
Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.
To get a media kit and information on advertising or sponsoring click here.