High-Trend International Group Announces Strategy Update for Onboard Carbon Capture in the Shipping Industry
SINGAPORE, May 12, 2025 /PRNewswire/ -- High-Trend International Group ("High-Trend" or the "Company") (NASDAQ: HTCO), a global ocean technology company that engages in international shipping services and new carbon neutral ocean technologies, today announced an update of its strategic plan regarding its Onboard Carbon Capture (OCC) systems to capture carbon dioxide (CO2) in the shipping industry. The Company is actively developing a business of providing carbon neutrality solutions for the shipping industry due to an expansive market opportunity as a result of heightened regulatory trends regarding carbon emissions.
Shixuan He, Chief Executive Officer of High-Trend, commented, "We are in the process of implementing a strategic plan to transform our business to become a key provider of onboard carbon capture solutions to work with existing ship fuel and exhaust systems. This would include designing and installing carbon capture equipment, transporting captured carbon dioxide and participating in carbon credit trading. We intend to fund this strategic transformation through our existing cash balance, ongoing cash flow and joint venture partnerships. This initiative constitutes a practical solution to help decarbonize the shipping industry and to capitalize upon what we believe to be a dynamic market opportunity."
According to Global Market Insights, a global market research and management consulting firm, the overall carbon capture and storage market was valued at approximately $8.8 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 16.7% from 2025 to 2034. The International Maritime Organization's (IMO) new framework, set to become mandatory for ships of over 5,000 gross tons that account for 85% of shipping emissions, is expected to significantly accelerate investment and adoption of carbon capture technologies within the maritime sector. In July 2023, the IMO revised upwards its carbon emission reduction targets which aims for net-zero greenhouse gas (GHG) emissions from international shipping by or around 2050. The regulations are designed to apply internationally, ensuring a level playing field and avoiding regional regulatory fragmentation.
About High-Trend International Group
High-Trend International Group ("High-Trend" or the "Company") is a global ocean technology company with businesses in international shipping and marine carbon neutrality. The Company connects the decarbonization needs of the maritime industry with the supply of the carbon finance market through technology ecosystem, creating a new paradigm for maritime sustainability.
Forward Looking Statements
This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2024. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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SOURCE High-Trend International Group