Wood Desiccation is a Major Pain Point
for the Lumber Industry
Drying a cubic meter of wood produces up to 1 ton of CO₂.
SO₂ emissions can also cause acid rain.
Fees for kiln drying is average $120 per cubic meter of wood.
Trying to hit CO₂ reduction targets.
Natural drying takes 6 months and has higher variability of results Threatening the supply of wood.
Ship-based wood drying during transportation
Our CEO Dr. Zhang was very successful in the lumber business. He saw the bottleneck caused by the traditional wood drying process and knew their had to be a better way. His idea was to dry the wood while it was being shipped using recycled heat from the ship’s exhaust gas, and in 2016 began working with engineers to design the process.
Caravelle was already a major bulk shipper of wood. We are now offering wood drying service to existing customers. Equipping more of our ships in 2023.
Co-Tech vs. traditional kiln drying
Zero cost for Caravelle once equipment is installed
93% reduction of CO₂ vs. kiln drying at the mill
Simplifies logistics for lumber industry
Ship is now the wood drying facility
Cost 40% less for customers
How we earn money
Fee for wood
Sale of by-product of
Earn valuable carbon credits for
being world’s first carbon neutral
Adds up to a billion dollar opportunity for Caravelle
POTENTIAL FROM 1 SHIP
Data from Caravelle’s peer reviewed scientific publication
Based on $118 per cubic meter spread between green and dry lumber
Company believes it will qualify for carbon credits for CO₂ reduction
Used as a soil conditioner and plant growth promoter and for other applications
Very high margin revenue
POTENTIAL FROM 5 SHIPS
Assumes adding Co-Tech wood drying to 1 ship every 6 months
60 PAYA LEBAR ROAD #06-16 PAYA LEBAR SQUARE SINGAPORE (409051)