Norwegian companies combine to form new green maritime group

Norwegian companies combine to form new green maritime group
Malcolm Latarche March 3, 2021 https://shipinsight.com/articles/norwegian-companies-combine-to-form-new...

Four Norway-based companies with special expertise in digitalisation, energy efficiency and zero-emission solutions in the marine and maritime industry are joining forces in HAV Group ASA.

The four companies HAV Design AS (formerly Havyard Design & Solutions AS), HAV Hydrogen AS (formerly Havyard Hydrogen AS), Norwegian Electric Systems AS and Norwegian Greentech AS are bringing together their expertise and experience in a new group under the name HAV Group ASA, with a view to strengthening and highlighting their environmental technology.

CEO of HAV Group, Gunnar Larsen, saidthe partnership between the four companies will give their customers a head start with forward-looking energy-efficient solutions. “Our customers have to address global megatrends, with very ambitious goals for minimising their environmental impact and increasingly stringent environmental requirements. HAV Group has the necessary know-how, experience and technology to provide customers with vessels and equipment to achieve these goals, while also increasing profitability, competitiveness and sustainability”.

Larsen highlighted the added value the four companies’ complementary expertise will provide for their customers. HAV Design delivers safe, energy-efficient and environmentally friendly ship designs, HAV Hydrogen has developed a hydrogen system that enables even larger ships to sail greater distances emission free, Norwegian Electric Systems has smart control systems and energy designs that result in safe, efficient and environmentally friendly ships, while Norwegian Greentech delivers compact, energy-efficient ballast water treatment systems and water treatment systems for the aquaculture industry.

HAV Group’s vision is to contribute to the green shift in the maritime and marine industry by producing innovative and profitable solutions. “And when we look at what we have delivered, including a record number of battery-operated ferries, we feel we can safely say that we’re already under way,” said the CEO.

HAV Group strengthened its capital through a private placement last week and is therefore in position to invest in further development and growth. HAV Group has applied for listing of the company on Euronext Growth and expects to be admitted for trading around 4 March.

Larsen says the companies in the group will generate more value together than individually, and that the stock exchange listing is related to their wish to enable investments in a listed growth company and to position the new group for growth. “We will pursue an active ownership strategy to create value for our owners through strategic development of each individual company and the companies together. We’ll do this by stimulating cooperation and synergies between the companies, as well as profitable growth”.