b'FOGHORN FOCUS People sometimes find gle-vessel operators, and their livelihoods depend on that that work done by oneone ship. So, reliability is paramount. Adopting a new technology while meeting regulations and group a few years ago maymaintaining reliability creates a challenge for equipment manufacturers. Its also a challenge for the owners as they now be relevant to theirmakedecisionsandlookforawaytobalanceallthese concerns. Id say those ring true in every factor of the own industry. They canmarine industry, Watson commented. As we look to the pick up technology thatpassenger vessel industry, those remain top line items for operators considering options as they shift from diesel fuel. was in the works andThe marine industry is not alone in working to move be-take it in a new directionyond traditional fossil fuel. In our daily lives for instance, we see more and more hybrid-electric and electric cars on for a different application,the roadways. Watson and I talked about how the research and development of technology and infrastructure for one thus the research and industry carries over to other sectors. development by one groupImfortunatetohavepeersacrossthecompanythat work in the mining industry, the on-land construction leads to gains for another.industry,land-basedpowergeneration,therailsector, andweareconstantlygettingtogetheraskingwhats happening over here and whats happening over there, Watson said. Teams understand that what may be good Transitioningtonewtechnologycanbeexcitingandfor one industry may not be much of a benefit for anoth-rewarding in many ways, but it isnt always an easy shift.er. However, as technology and industries change, people Whenwediscussedsomeoftheobstaclesoperatorssometimes find that work done by one group a few years must navigate as they move away from diesel, the generalago may now be relevant to their own industry. They can maritime industry at large was discussed first. Watsonpick up technology that was in the works and take it in a noted that on an international level, in 2023 the Inter- new direction for a different application, thus the research nationalMaritimeOrganization(IMO)introducedaand development by one group leads to gains for another. revised strategy to reduce greenhouse gas emissions inThe flip side is that each industry faces its own concerns shipping to net-zero by or around 2050 1 . Regulations atandobstacles.Forexample,inthemaritimeindustry the regional and local level, including within the U.S.,one must take into account sea and weather conditions, have also called for reducing emissions within the mar- which might not come into play for operations in another itime industry.sector. Yet, teams are utilizing the advancements made by otherindustriesandcarryingthosedevelopmentsinto Asidefromregulations,operatorsneedtobalancethethe maritime industry to help push forward alternative financial health of their company with the integration ofpropulsion solutions.new technology. In its early stages, technology tends to be expensive, and being an early adopter comes with bearingSimilarly, the work done to develop and evolve infrastruc-that higher cost. Hand in hand with financial health, ature in other industries can benefit the passenger vessel key concern is reliability. Caterpillar entered the marineindustrys push to adopt alternative propulsion technol-industry in 1938, and since then, reliability has been theogy. For example, power generation is being expanded to number one item of importance for many of their custom- support greater demand in a wider range of locations. As ers according to Watson. He noted that some may be sin- these networks grow, getting electric power port side, for FOGHORN 28'