Trio Of Sustainable Power Sources To Drive Royal Caribbean Group's Next Class Of Ships Into The Future

Rhea-AI Summary

Royal Caribbean Group's new hybrid-powered ship, part of the Silversea Cruises brand, will debut in summer 2023. Named 'Project Evolution,' this innovative ship will utilize fuel cell technology, batteries, and dual fuel engines powered by liquefied natural gas (LNG), achieving zero local emissions while at port. The ship aims for a 40% decrease in greenhouse gas emissions and boasts an Energy Efficiency Design Index (EEDI) rating 25% above IMO standards. This initiative underscores the company's commitment to sustainability and reducing environmental impact.

Positive

• Projected 40% reduction in greenhouse gas emissions compared to previous ship classes.
• Achieves an Energy Efficiency Design Index (EEDI) rating 25% better than IMO requirements.
• First large-scale fuel-cell installation at sea in the cruise industry.
• Demonstrates commitment to sustainable practices and innovation.

Negative

• None.

MIAMI, Oct. 22, 2021 /PRNewswire/ -- The cruise industry's first hybrid powered ship is set to debut summer 2023 as part of Royal Caribbean Group's (NYSE: RCL) ultra-luxury brand Silversea Cruises. The new class of ships, known as 'Project Evolution,' will operate using a trio of power sources including a fuel cell system, battery technology and dual fuel engines using liquefied natural gas (LNG) as the main fuel. This hybrid solution, using fuel cell technology, allows the ship to be free of local emissions while at port — another industry first.

"Silversea's newest ship class is a significant leap forward in our commitment to sustainable ship design and our journey to reduce our environmental footprint," said Richard Fain, Chairman and CEO, Royal Caribbean Group. "We first announced our fuel cell ambitions several years ago. Through dedication and perseverance, we are now proud to introduce the first ship with large-scale fuel cell technology capable of achieving emission-free port operations."

"Incorporating fuel cells into our ships now is one example of how Royal Caribbean Group is preparing to use new technologies as we move to a non-carbon-based future," Fain continued. "This pioneering approach builds on our spirit of innovation."

The new hybrid technology not only helps in port, but also allows Project Evolution to achieve a 40% overall reduction in its greenhouse gas emissions per double occupancy when compared to the brand's previous class of ships. The ship class is also projected to achieve an Energy Efficiency Design Index (EEDI) rating approximately 25% better than applicable International Maritime Organization (IMO) requirements.

"Being at the forefront of sustainable shipping design and innovation is a testament to our team's drive for continuous improvement," said Roberto Martinoli, President and CEO, Silversea Cruises. "These advancements support our desire to showcase the world to our guests and to do so in a mindful and environmentally responsible way."

Royal Caribbean Group is already known for a robust portfolio of technologies enhancing energy efficiency, waste treatment, and water management. This steady progress remains rooted in the company's mantra of continuous improvement. It will drive The Group's future as alternative, non-carbon-based solutions become available to support its overall decarbonization journey.

Project Evolution's full suite of initiatives, developed in partnership with Meyer Werft Shipyard, will bring energy efficiency to a new level and will include both first-of-its-kind initiatives and successful features previously introduced such as:

• Fuel Cell System – this hydrogen-based technology will supplement the main power supply and carry the ship's total hotel load — up to four megawatts — the first large-scale fuel-cell installation at sea in the cruise industry.
• LNG (Liquid Natural Gas) – a cleaner burning fuel, LNG-fueled propulsion systems emit less CO2 and 97% fewer particulates than normal fuel oil used on ships.
• Battery – a bank of batteries supports optimizing the overall ship power system, saving fuel.
• Waste to Energy – newly developed Micro Auto Gasification System (MAGS) reduces onboard waste volume, resulting in lower incineration emissions.
• Progress to Carbon Neutral Construction – in partnership with Meyer Werft Shipyard, Project Evolution is thoughtfully designed and built taking into consideration the carbon footprint of ship construction and creating a path to overall reduction.

For more than 30 years Royal Caribbean Group has invested in its commitment to sustainability. In partnership with World Wildlife Fund (WWF) in 2016, the company set specific, ambitious and measurable 2020 sustainability targets to reduce its environmental footprint, increase sustainable tourism, respect coastal communities and cultural heritage, and support WWF's global ocean conservation work.

In addition, the company continues to advocate for sustainable practices globally, including collaborating with the United Nation's High-Level Panel for a Sustainable Ocean Economy and committing to deliver on the promise of the Paris Agreement through partnership with the We Are Still In coalition.

To learn more about Royal Caribbean Group's sustainability efforts, visit https://sustainability.rclcorporate.com/.

About Royal Caribbean Group

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 60 ships traveling to more than 800 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 13 ships on order as of June 30, 2021. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

About Silversea Cruises
Part of the Royal Caribbean Group, Silversea Cruises is recognized as an innovator in the ultra-luxury cruise industry, offering guests large-ship amenities aboard its intimate, all-suite vessels: Silver Shadow, Silver Whisper, Silver Spirit, Silver Muse and Silver Moon – all designed to offer an atmosphere of conviviality and casual elegance. With the inclusion of the expedition ships Silver Origin, Silver Wind, Silver Explorer, and Silver Cloud, Silversea's itineraries encompass all seven continents and feature worldwide luxury cruises to the Mediterranean, the Caribbean, the Galapagos, both Polar Regions, and hundreds of fascinating destinations in between. Silversea is also looking forward to the launch of three new ultra-luxury ships: Silver Dawn and two Evolution-class ships. Browse Silversea's blog, Discover, and subscribe to receive the latest content directly into your inbox.

Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, the company's expectations, estimates, forecasts and projections regarding environmental, social and governance (ESG) initiatives and the company's ability to achieve its ESG goals. Forward-looking statements reflect management's current expectations and are subject to risks, uncertainties and other factors that could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Factors that could affect our results include, among others, the cost and availability of alternative fuels and changes in expected ship itineraries, as well as those factors discussed under the caption "Risk Factors" in our most recent annual report on Form 10-K, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC's website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

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SOURCE Royal Caribbean Group

FAQ

What is the launch date for Royal Caribbean Group's Project Evolution?

Project Evolution is set to debut in summer 2023.

What sustainable technologies will Project Evolution use?

Project Evolution will use a fuel cell system, battery technology, and dual fuel engines powered by liquefied natural gas (LNG).

How much will Project Evolution reduce greenhouse gas emissions compared to previous ships?

Project Evolution is expected to achieve a 40% reduction in greenhouse gas emissions per double occupancy.

What is the Energy Efficiency Design Index (EEDI) rating for Project Evolution?

Project Evolution aims for an EEDI rating approximately 25% better than applicable International Maritime Organization (IMO) requirements.

What company is behind the Project Evolution ship?

Project Evolution is developed by Royal Caribbean Group under its luxury brand Silversea Cruises.