On October 24th, in the first week after the new WAPS manufacture center put into operation, CM Energy Wind Assisted Propulsion System Manufacturing Center received its first order. Following signing of sales contracts for 7 sets of WAPS with British shipowner Union Maritime Limited ("UML") in March this year, CM Energy has once again received a order from UML to install 3 sets of WAPS, designed by British BAR Tech, on a new build LR2, 114,000-ton oil tanker at Shanghai Waigaoqiao Shipbuilding (SWS) yard. To date, CM Energy's Wind Assisted Propulsion System Manufacture Center has secured orders of 10 sets of WAPS in hand,reflecting strong market recognition

CM Energy Wind Assisted Propulsion System Manufacture Center was officially launched on October 18th this year, focusing on the production and delivery of the rigid three-element WAPS. It currently has the capacity to manufacture, assemble and deliver 36 sets annually, ensuring the high-quality and efficient delivery of high-performance products to customers.

The WAPS features BAR Tech's patented technology, using a combination of steel structure and composite materials, capable of freely adjusting the angle and curvature of the WAPS to maximize their aerodynamic performance. In the late 2023, the WAPS has been chosen and successfully installed on two vessels, Pyxis Ocean and Berge Olympus. Over more than a year of actual operation, the excellent performance of WAPS in reducing fuel consumption and carbon emissions has been proven. Currently, the performance of WAPS has been independently verified by the well known fluid dynamics research institution Wolfson Unit and Lloyds, and has received the DNV classification society's design type approval. Now the design is applying for Lloyd's classification society's design type approval. In addition, the WAPS project has received co-funding from the EU and is brought into the CHEK Horizon 2020 program, gaining support and recognition globally to help the marine industry achieve sustainable development.

At this stage, the marine industry has entered a new ecology of green and low-carbon transformation. The development of wind assisted propulsion technology has made innovative contributions to the exploration of green shipping solutions and has also laid the foundation for ship enterprises to seize the initiative in green development. CM Energy’s forward-looking layout and cooperation with BAR TECH have established a technological benchmark globally. Subsequently, relying on the advanced equipment-manufacturing and technical capabilities of the Haimen Manufacturing Center, it will create products with advanced, efficient, and practical features to meet the requirements of more shipowners and help more shipping companies achieve fuel saving and carbon reduction.