Alumni Spring Roundup

MayMaan, a leading technology innovator, and Vattenfall, one of Europe’s largest energy companies, have announced a new partnership aimed at accelerating their goal for a green and sustainable future. The agreement was signed at PowerGen23, a major trade show for companies involved in power generation, underscoring the importance of this union to the industry.

MayMaan, has a strong track record of developing game-changing solutions for renewable and clean energy. One such solution is their range of generators that run on a fuel that consists of 70% water and 30% bio-alcohol. This innovative technology not only reduces carbon emissions and NOx, but also offers a clean energy alternative to traditional fossil fuels. This will accelerate fossil free solutions for automotive, maritime, construction, and other industries that require prime or backup power generation.

By sharing a common goal of preserving the environment and pursuing innovation, the partnership between MayMaan and Vattenfall is a momentous leap towards a cleaner, more eco-friendly future.

“We’re thrilled to partner with Vattenfall on this ambitious goal of achieving fossil-free energy generation. This alliance is an important step toward realizing our shared vision of a greener future powered by renewable and clean energy” said MayMaan CEO Doron Shmueli. “We believe that by combining our expertise and resources, we can help mitigate the effects of climate change and have a lasting global impact ” said MayMaan President Eitan Shmueli.

Vattenfall, an integrated energy company focused on its numerous customers throughout Europe, is committed to reducing Greenhouse gas emissions, and driving the transition to fossil freedom. Vattenfall has a long history of research and development and verifying new and impactful technologies. The introduction and implementation of these technologies ensures a reduction of emissions for their customers and suppliers.

“MayMaan’s revolutionary technology is immediately available to car engine manufacturers and generator builders, this will help us accelerate our mission to be fossil free in one generation” according to Nardi Polak, Vattenfall’s Head of Supplier Innovation.

Vattenfall and MayMaan bring complementary expertise and resources to the table. By working collaboratively, they can accelerate the transition to a decarbonized energy future and help mitigate the environmental impact of traditional energy sources via clean renewable energy options. In addition, power generators with MayMaan’s technology produce no NOx emissions and therefore could immediately solve the impasse created by the strict objectives on NOx reduction in The Netherlands.

This strategic partnership exemplifies how businesses can work together to effect meaningful change and create a better future for all. As the world faces increasing environmental challenges, cooperation like this will be critical in assisting in the creation of a more environmentally sound and resilient world for future generations.

WAVE’s $30 Million commitment to MayMaan’s clean energy technology will help the company advance its mission of producing efficient, environmentally friendly power generation for a cleaner world.

MayMaan is pleased to announce a commitment by WAVE Equity Partners LLC (WAVE) for a $30 million Series A Preferred investment. WAVE is a leading investor in essential industries, including clean air, water, food, advanced materials, and recycling that make a meaningful environmental impact. This investment recognizes the immense potential of MayMaan’s AquaStroke® technology, which uses a unique water-ethanol based fuel to create cleaner combustion engines and generators, while reducing emissions and costs. This not only cuts carbon emissions but also provides a cleaner energy alternative to traditional fossil fuels. With this funding, MayMaan is poised to accelerate the development and deployment of its state-of-the-art clean energy solutions, thereby paving the way for a more sustainable future.

“We believe this significant investment from WAVE demonstrates their confidence in MayMaan’s vision and leading-edge technology. This funding will enable us to accelerate the growth and development of our proprietary clean combustion solutions, bringing us one step closer to a sustainable future.” said MayMaan’s CEO Doron Shmueli. Eitan Shmueli, President of MayMaan, added, “At MayMaan, we are dedicated to developing solutions that reduce emissions and costs, and are excited about the potential positive impact this collaboration will have on the environment.”

Praveen Sahay, Partner at WAVE Equity Partners, adds, “MayMaan embodies a transformative change in our energy and transportation infrastructure, which we believe will usher in a new era of distributed renewable power generation that is both cost-effective and low in carbon emissions. WAVE takes great pride in its association with such a groundbreaking product, and is fully committed to collaborating with the company on both strategic and operational fronts to realize its grand vision.”

GBMS’s mission to minimize container loss at sea is supported by EUR 300k pre-seed funding from an informal investor consortium. Their financial support, know-how and expertise will allow GBMS to further develop and commercialize its state-of-the-art real-time container and lashing load monitor system SensoriumC, to containerships worldwide.

The investors include 60South, Glass Frog Ventures, Ed Nobel and Iconica, and collectively bring an extensive industry network and business- and start-up expertise. The investment recognizes the enormous potential of SensoriumC to protect the maritime environment, minimize costs of damage and stand-still and optimize logistics by reducing the loss of containers at sea.

“We are thrilled to have the support of such experienced and well-respected investors,” said Michiel Gunsing, co-founder and CEO of GBMS. “This funding will allow us to accelerate the development of our technology and bring our product to market faster, ultimately saving the environment and preventing losses for shipping companies.

Driven by global warming, the maritime environment is getting increasingly unpredictable while recent economic developments have put a strain on the global container shipping capacity as well. With over 5500 container vessels transporting 200 million TEU containers per year the risks of losing containers are large and growing. Very notably, in 2019 MSC Zoe lost over 300 containers, spilling cargo over beaches of the natural reserves North of the Netherlands and Germany of which 800 tons are still not recovered. Other incidents involved the ONE Apus (1800 containers lost), the Maersk Essen (727 containers lost) and many more. Costly incidents which are less well known, but also are a threat to the safety at sea. Many of these losses could have been avoided if the crew had better awareness of the forces acting on their cargo.

GBMS’s brand new SensoriumC system provides direct insight in the loads of containers and lashings. Much like a car’s speedometer tells when you’re speeding, SensoriumC indicates when loads become dangerous and should be acted upon. The SensoriumC system measures the ship motions and combines this with the container locations, masses and lashing information to calculate in real-time the loads each container and lashing endures. In case of dangerous situations, the crew can change course or speed to avoid exposing the ship, the crew and the cargo to risks. Apart from real time monitoring, the system can be used during the planning phase of a voyage and data can be logged for analysis afterwards.

“We were impressed by GBMS’s innovative approach to real time load monitoring and its potential to safeguard environment and maritime safety as well as minimize cargo losses” said Rolf Fouchier, director at Glass Frog Ventures. “We look forward to supporting the team as they continue to grow and develop their business.”

WAVE Equity Partners LLC is a Boston-based private equity firm that invests in sustainability innovators to accelerate development of their market-validated solutions focused on solving some of the world’s most significant challenges in essential markets for clean energy, water, waste, food, and clean air.

For additional information, visit www.waveep.com.

Vattenfall, based in Stockholm, Sweden, is one of Europe’s largest producers and retailers of electricity and heat. Vattenfall is committed to making fossil-free living possible within one generation as an innovator and leader on the cutting edge of environmentally sound technologies.

MayMaan Research, Inc. is a leading clean energy and power generation technology company headquartered in Hollywood, Florida. With a strong focus on sustainability and innovation, MayMaan has developed trailblazing solutions for clean energy generation, including their AquaStroke® technology that runs on a fuel comprised of 70% water and 30% ethanol, eliminating the need for traditional gasoline or diesel. MayMaan’s team of innovators are motivated by “The Power of Water Based Fuel” and are committed to creating a positive global impact by addressing some of the most pressing energy challenges of the 21st century.

For additional information, visit www.maymaan.com.

60South is the investment company of Mark Mol. Mark has a history in container shipping and a large network in ports around the world. He is an experienced driving force for several startup companies in Energy, Agri-food, Maritime and Emerging Tech.

Glass Frog Ventures is a group of four experienced entrepreneurs and business angels that joined forces to invest in early stage innovative growth companies. Glass Frog Ventures participates in the Seed Business Angel arrangement of the Dutch government. For additional information, please visit:

Iconica is a developer of dedicated tools for mobile devices. They are experienced developers of back and front-end systems with the best user experience. For additional information, please visit: https://iconica.nl

Ed Nobel is an angel investor and former ship-owner who is now dedicated to performing measuring campaigns for weather dependent lashing.

GBMS is a Dutch leading system developer to transform container-ship data into knowledge and real time information for the crew. GBMS was founded in 2021 by Joris Brouwer and Michiel Gunsing. GBMS strongly focuses on user-friendly tools which are being developed iteratively and in close cooperation with the users. For additional information, please contact info@gbms.nl, or call Michiel Gunsing at , or visit: https://gbms.nl.

PortXL is the world’s first port accelerator and is unique in its kind, with a global network of leading companies and experts. The objective of PortXL is the acceleration of innovative technologies for the green energy, maritime, logistics and process industry in port regions across the world. In doing so, PortXL activates the largest possible ecosystem to stimulate entrepreneurship for all involved parties. The PortXL ecosystem consists of start-ups and scale-ups, investors and partners, and market leading companies such as lead partners Van Oord and Port of Rotterdam, as well as partners Boskalis, Damen, Shell, Deltares, City of Rotterdam, InnovationQuarter, and Provincie Zuid-Holland. PortXL was launched in 2015 with the ambition to bridge the gap between innovative entrepreneurs and the established port industry. PortXL is the linking pin between these two worlds. PortXL is in its sixth year of operations and so far has executed 12 programs, accelerated more than 100 start-ups and scale-ups, and facilitated the signing of over 220 contracts. For more information: www.portxl.org