High-Trend International Group updates strategic plan regarding OCC systems

High-Trend International Group (HTCO)announced an update of its strategic plan regarding its Onboard Carbon Capture, or OCC, systems to capture carbon dioxide 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. According to Global Market Insights, a global market research and management consulting firm, the overall carbon capture and storage market was valued at approximately $8.8B in 2024 and is projected to grow at a compound annual growth rate, or CAGR, of 16.7% from 2025 to 2034. The International Maritime Organization’s, or 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, or 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.