TECO 2030 and Pherousa Green Shipping sign supply agreement to realize true zero-emission deep-sea shipping.
Lysaker, 14 September 2023
): TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) and Pherousa Green Shipping AS (PGS) sign green package supply agreement for up to six modern, zero-emission Ultramax dry bulk carriers of about 63.000 deadweight tons each. Each vessel will be equipped with 12 megawatts (MW) of TECO 2030 fuel cells for main propulsion onboard.
The TECO 2030 delivery scope is a green package approx. worth EUR 23 million per vessel. The delivery for TECO 2030 includes a complete system of fuel cells installed on a skid solution as well as power and automation equipment and is estimated to start shipment to shipyard by early-2026, with delivery in mid-2026. The fuel cell system will go into production at our Innovation Center in Narvik, Norway at the end of 2024.
A 12 MW fuel cell system will be utilized for full propulsion onboard each of the six vessels, enabling 100% emission-free operations.
Each vessel will be about 63,000-deadweight tons and the first vessel is targeted for delivery Q1 2027.
The TECO 2030 fuel cell system will be installed in combination with a Pherousa Green Technologies AS’ (PGT) ammonia to hydrogen cracker. Bunkering ammonia and cracking to hydrogen on board the vessel will solve the storage and infrastructure challenges of hydrogen as a marine fuel and thus paving the way for zero emission deep-sea shipping.
Opting for hydrogen fuel cells in combination with an ammonia cracker allows shipowners to commence with ammonia and transition to hydrogen whenever desired, minimizing the investment risks. This approach does not only position ammonia as a viable hydrogen carrier but also enables its economic trade as a preferred fuel in shipping and complementing its traditional role in the chemical and fertilizer sector.
The total supply agreement is subject to financing of PGS’ newbuild vessels and reaching a final contract of supply including closing price negotiations according to industry standards.
”We are excited to team up with TECO 2030 and incorporate their Fuel Cell solution together with our own Cracking technology, permitting the Pherousa newbuildings to be the first ever fully electric deep-sea vessels on water” said Hans Bredrup, Chairman of the Pherousa group. He further commented: “The technology combination between TECO 2030 and Pherousa doesn’t only reduce the ammonia consumption versus the ammonia fueled Internal Combustion Engines currently being developed, it also avoids burning Ammonia together with Carbon based pilot fuels” and adds: “Truly Zero Emission by Choice”
“We are proud to sign a firm supply agreement for six vessels with Pherousa Green Shipping, they are a young forward-thinking shipowner who wants to realize zero emissions deep-sea shipping. Pherousa is an exciting company, with a clear vision of proving that hydrogen and ammonia can be utilized to fuel tomorrow’s deep-sea vessels,” said an enthusiastic Tore Enger, Group CEO TECO 2030.
END
Contact TECO 2030:
Tore Enger, Group CEO, +47 92083800, tore.enger@teco2030.no
About TECO 2030:
TECO 2030 is building up Europe's first Giga production facility of hydrogen PEM fuel cell stacks and modules in Narvik, Norway. The production capacity will be built up through 2023 and early 2024, targeting an output capacity of 400 MW of fuel cells in 2025, increasing to 1.6 GW in 2030.
TECO 2030 is a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other heavy-duty applications to become emissions-free. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTCQX under the ticker TECFF. TECO2030 is a spinoff from TECO Maritime Group, a group that has provided technology and services to the global shipping industry since 1994. For more information, please visit www.teco2030.no.
Contact Pherousa Green Shipping AS:
Hans Bredrup, Chairman, +47 90951129 / +56998873036, hans@pherousa.no
About Pherousa Green Shipping AS:
Pherousa Green Shipping AS, headquartered in Oslo and established in 2023, is in the process of initiating an order for up to six modern, zero-emission Ultramax dry bulk carriers. These vessels are designed by Deltamarin in Finland and will be crewed and managed by OSM Thome Ship Management. The initial ship design is derived from an existing Deltamarin Ultramax model, but it has been modified to include the ammonia cracking technology developed by Pherousa Green Technologies AS (PGT). This technology employs ammonia as a hydrogen carrier, enabling true zero-emission propulsion.
Lysaker, 14 September 2023
): TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) and Pherousa Green Shipping AS (PGS) sign green package supply agreement for up to six modern, zero-emission Ultramax dry bulk carriers of about 63.000 deadweight tons each. Each vessel will be equipped with 12 megawatts (MW) of TECO 2030 fuel cells for main propulsion onboard.
The TECO 2030 delivery scope is a green package approx. worth EUR 23 million per vessel. The delivery for TECO 2030 includes a complete system of fuel cells installed on a skid solution as well as power and automation equipment and is estimated to start shipment to shipyard by early-2026, with delivery in mid-2026. The fuel cell system will go into production at our Innovation Center in Narvik, Norway at the end of 2024.
A 12 MW fuel cell system will be utilized for full propulsion onboard each of the six vessels, enabling 100% emission-free operations.
Each vessel will be about 63,000-deadweight tons and the first vessel is targeted for delivery Q1 2027.
The TECO 2030 fuel cell system will be installed in combination with a Pherousa Green Technologies AS’ (PGT) ammonia to hydrogen cracker. Bunkering ammonia and cracking to hydrogen on board the vessel will solve the storage and infrastructure challenges of hydrogen as a marine fuel and thus paving the way for zero emission deep-sea shipping.
Opting for hydrogen fuel cells in combination with an ammonia cracker allows shipowners to commence with ammonia and transition to hydrogen whenever desired, minimizing the investment risks. This approach does not only position ammonia as a viable hydrogen carrier but also enables its economic trade as a preferred fuel in shipping and complementing its traditional role in the chemical and fertilizer sector.
The total supply agreement is subject to financing of PGS’ newbuild vessels and reaching a final contract of supply including closing price negotiations according to industry standards.
”We are excited to team up with TECO 2030 and incorporate their Fuel Cell solution together with our own Cracking technology, permitting the Pherousa newbuildings to be the first ever fully electric deep-sea vessels on water” said Hans Bredrup, Chairman of the Pherousa group. He further commented: “The technology combination between TECO 2030 and Pherousa doesn’t only reduce the ammonia consumption versus the ammonia fueled Internal Combustion Engines currently being developed, it also avoids burning Ammonia together with Carbon based pilot fuels” and adds: “Truly Zero Emission by Choice”
“We are proud to sign a firm supply agreement for six vessels with Pherousa Green Shipping, they are a young forward-thinking shipowner who wants to realize zero emissions deep-sea shipping. Pherousa is an exciting company, with a clear vision of proving that hydrogen and ammonia can be utilized to fuel tomorrow’s deep-sea vessels,” said an enthusiastic Tore Enger, Group CEO TECO 2030.
END
Contact TECO 2030:
Tore Enger, Group CEO, +47 92083800, tore.enger@teco2030.no
About TECO 2030:
TECO 2030 is building up Europe's first Giga production facility of hydrogen PEM fuel cell stacks and modules in Narvik, Norway. The production capacity will be built up through 2023 and early 2024, targeting an output capacity of 400 MW of fuel cells in 2025, increasing to 1.6 GW in 2030.
TECO 2030 is a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other heavy-duty applications to become emissions-free. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTCQX under the ticker TECFF. TECO2030 is a spinoff from TECO Maritime Group, a group that has provided technology and services to the global shipping industry since 1994. For more information, please visit www.teco2030.no.
Contact Pherousa Green Shipping AS:
Hans Bredrup, Chairman, +47 90951129 / +56998873036, hans@pherousa.no
About Pherousa Green Shipping AS:
Pherousa Green Shipping AS, headquartered in Oslo and established in 2023, is in the process of initiating an order for up to six modern, zero-emission Ultramax dry bulk carriers. These vessels are designed by Deltamarin in Finland and will be crewed and managed by OSM Thome Ship Management. The initial ship design is derived from an existing Deltamarin Ultramax model, but it has been modified to include the ammonia cracking technology developed by Pherousa Green Technologies AS (PGT). This technology employs ammonia as a hydrogen carrier, enabling true zero-emission propulsion.
OSM Thome and Pherousa Green Shipping Collaborate on Major Ultramax Project.
Oslo-Arendal, 22 August 2023
Norwegian companies OSM Thome and Pherousa Green Shipping AS (referred to as "PGS") have entered into a Letter of Intent outlining their collaboration on a series of 63000 dead weight (dwt) Ultramax vessels to be ordered by PGS.
The collaboration involves Phases I, II, and III, encompassing Drawing Approval, Project Development, and Site Supervision for six 63000 dwt Ultramax Bulk Carriers. Furthermore, OSM Thome will manage the crew and technical management of the constructed vessels.
Pherousa Green Shipping AS, headquartered in Oslo and established in 2023, is in the process of initiating an order for up to six modern, zero-emission Ultramax dry bulk carriers. These vessels are designed by Deltamarin in Finland. The initial ship design is derived from an existing Deltamarin Ultramax model, but it has been modified to include the ammonia cracking technology developed by Pherousa Green Technologies AS (PGT). This technology employs ammonia as a hydrogen carrier, facilitating true zero-emission propulsion.
OSM Thome boasts expertise in supervising the design and construction of various vessel types, including Anchor Handling Tug and Supply (AHTS) vessels, Shuttle Tankers, Dry Bulk vessels, MR Tankers, PSVs, Jack Up Rigs, Storage Platforms, Car Carriers, RORO and RO-Pax Carriers, Accommodation Barges and Vessels, Offshore decommissioning projects, Battery Operated Vessels (BOBs) and Battery-Operated Ferries (Norwegian Sector), Fully Autonomous Vessels (Ammonia Propulsion), Expedition Vessels, and Cruise Liners.
"We are delighted to partner with the renowned Shipmanagement group, OSM Thome, to assist us on finalizing our forthcoming fleet of true zero-emission Ultramax bulk carriers. Our early agreement with OSM Thome ensures that crew members will be prepared and trained well in advance of vessel delivery. This proactive approach guarantees the establishment of safety measures and protocols in accordance with the guidelines for safe handling at sea," said Hans Bredrup, Chairman of the Pherousa Group.
The initial fleet of six Ultramax dry bulk carriers has a specific focus on serving the global copper industry. Given copper's pivotal role in worldwide decarbonization efforts, the copper industry has set ambitious emission reduction targets, encompassing Scope 3 emissions which involve transportation to end users. "The concept has garnered significant support, and we are actively engaging with key stakeholders in both ammonia supply and vessel end-users. This momentum is propelling us towards realizing zero-emission copper transportation, fostering a fully zero carbon supply chain from mines to destinations," added Mr. Bredrup.
“We really appreciate the trust that PGS has in our abilities by signing this agreement. Since the merger of OSM Maritime Group and Thome Group was finalised in May this year creating the combined entity OSM Thome, we have worked hard to amalgamate and build on the best attributes and skills of all our employees to provide real benefits for our customers. We are looking forward to working closely with the team at PGS to ensure that this project is successfully supervised and managed to create sustainable transportation solutions,” said Tommy Olofsen, OSM Thome’s Chief Commercial Officer.
For further information, please contact:
OSM Thome
Tommy Olofsen, Chief Commercial Officer
tommy.olofsen@osm.no
+4523836276
Pherousa Green Shipping AS
Hans Bredrup, Chairman
hans@pherousa.no
+47 90951129 / +56998873036
Oslo-Arendal, 22 August 2023
Norwegian companies OSM Thome and Pherousa Green Shipping AS (referred to as "PGS") have entered into a Letter of Intent outlining their collaboration on a series of 63000 dead weight (dwt) Ultramax vessels to be ordered by PGS.
The collaboration involves Phases I, II, and III, encompassing Drawing Approval, Project Development, and Site Supervision for six 63000 dwt Ultramax Bulk Carriers. Furthermore, OSM Thome will manage the crew and technical management of the constructed vessels.
Pherousa Green Shipping AS, headquartered in Oslo and established in 2023, is in the process of initiating an order for up to six modern, zero-emission Ultramax dry bulk carriers. These vessels are designed by Deltamarin in Finland. The initial ship design is derived from an existing Deltamarin Ultramax model, but it has been modified to include the ammonia cracking technology developed by Pherousa Green Technologies AS (PGT). This technology employs ammonia as a hydrogen carrier, facilitating true zero-emission propulsion.
OSM Thome boasts expertise in supervising the design and construction of various vessel types, including Anchor Handling Tug and Supply (AHTS) vessels, Shuttle Tankers, Dry Bulk vessels, MR Tankers, PSVs, Jack Up Rigs, Storage Platforms, Car Carriers, RORO and RO-Pax Carriers, Accommodation Barges and Vessels, Offshore decommissioning projects, Battery Operated Vessels (BOBs) and Battery-Operated Ferries (Norwegian Sector), Fully Autonomous Vessels (Ammonia Propulsion), Expedition Vessels, and Cruise Liners.
"We are delighted to partner with the renowned Shipmanagement group, OSM Thome, to assist us on finalizing our forthcoming fleet of true zero-emission Ultramax bulk carriers. Our early agreement with OSM Thome ensures that crew members will be prepared and trained well in advance of vessel delivery. This proactive approach guarantees the establishment of safety measures and protocols in accordance with the guidelines for safe handling at sea," said Hans Bredrup, Chairman of the Pherousa Group.
The initial fleet of six Ultramax dry bulk carriers has a specific focus on serving the global copper industry. Given copper's pivotal role in worldwide decarbonization efforts, the copper industry has set ambitious emission reduction targets, encompassing Scope 3 emissions which involve transportation to end users. "The concept has garnered significant support, and we are actively engaging with key stakeholders in both ammonia supply and vessel end-users. This momentum is propelling us towards realizing zero-emission copper transportation, fostering a fully zero carbon supply chain from mines to destinations," added Mr. Bredrup.
“We really appreciate the trust that PGS has in our abilities by signing this agreement. Since the merger of OSM Maritime Group and Thome Group was finalised in May this year creating the combined entity OSM Thome, we have worked hard to amalgamate and build on the best attributes and skills of all our employees to provide real benefits for our customers. We are looking forward to working closely with the team at PGS to ensure that this project is successfully supervised and managed to create sustainable transportation solutions,” said Tommy Olofsen, OSM Thome’s Chief Commercial Officer.
For further information, please contact:
OSM Thome
Tommy Olofsen, Chief Commercial Officer
tommy.olofsen@osm.no
+4523836276
Pherousa Green Shipping AS
Hans Bredrup, Chairman
hans@pherousa.no
+47 90951129 / +56998873036
Pherousa Green Shipping AS welcomes Accomplished Industry Leader Maria Paz De La Cruz Sepulveda as New Board Director.
Oslo, 14 June 2023.
Pherousa Green Shipping (PGS) AS is pleased to announce the appointment of Maria De La Cruz as a Member of its Board. With over 25 years of experience in the power industry, Mrs De La Cruz brings a wealth of expertise and a strong commitment to sustainability into the organization.
Prior to joining PGS, Mrs. De La Cruz served as the CEO of the Chilean Hydrogen Association (H2Chile). She is further a Member of the Board at the Green Hydrogen Organization (gh2.org). These roles have provided invaluable insights and a deep understanding of the potential of green hydrogen as a key driver in the transition to a sustainable future.
Mrs. De La Cruz has an impressive track record of spearheading initiatives that promote sustainable practices within the power industry. Her visionary leadership and extensive knowledge in the field have contributed significantly to the advancement of greener technologies and solutions. Mrs. de la Cruz is a Chilean citizen and resides in Chile.
With her appointment to the Board of Directors at PGS, we are confident that Mrs. De La Cruz will play a pivotal role in shaping the company's strategic direction and accelerating its growth within shipping. Her expertise and experience will be instrumental in guiding PGS as it continues to develop innovative solutions that address pressing environmental and commercial challenges for the shipping industry.
"We are excited to welcome Mrs. De La Cruz to our Board of Directors," said Mr. Hans Bredrup, Chairman of the Board of Directors at Pherousa. "Her remarkable achievements and deep industry knowledge will be invaluable as we navigate the ever-evolving landscape of decarbonizing the deep-sea shipping sector. We look forward to her strategic guidance and contributions towards our mission of creating a more sustainable future."
Mrs. De La Cruz expressed enthusiasm about joining PGS and stated, "I am honoured to be part of PGS's board and to contribute to their ground-breaking work in deep-sea shipping. Together, we have a tremendous opportunity to drive positive change and make a lasting impact on the environment. I am excited to collaborate with the talented team at PGS and help shape the future of sustainable technology."
With the addition of Mrs. De La Cruz, PGS is confident in its ability to leverage her expertise and forge ahead in its commitment to developing innovative, environmentally friendly solutions that address the world's pressing energy and sustainability challenges.
For further Information, please contact:
Hans Bredrup, Chairman
hans@pherousa.no
+47 90 95 11 29 / +56 99 887 30 36
Oslo, 14 June 2023.
Pherousa Green Shipping (PGS) AS is pleased to announce the appointment of Maria De La Cruz as a Member of its Board. With over 25 years of experience in the power industry, Mrs De La Cruz brings a wealth of expertise and a strong commitment to sustainability into the organization.
Prior to joining PGS, Mrs. De La Cruz served as the CEO of the Chilean Hydrogen Association (H2Chile). She is further a Member of the Board at the Green Hydrogen Organization (gh2.org). These roles have provided invaluable insights and a deep understanding of the potential of green hydrogen as a key driver in the transition to a sustainable future.
Mrs. De La Cruz has an impressive track record of spearheading initiatives that promote sustainable practices within the power industry. Her visionary leadership and extensive knowledge in the field have contributed significantly to the advancement of greener technologies and solutions. Mrs. de la Cruz is a Chilean citizen and resides in Chile.
With her appointment to the Board of Directors at PGS, we are confident that Mrs. De La Cruz will play a pivotal role in shaping the company's strategic direction and accelerating its growth within shipping. Her expertise and experience will be instrumental in guiding PGS as it continues to develop innovative solutions that address pressing environmental and commercial challenges for the shipping industry.
"We are excited to welcome Mrs. De La Cruz to our Board of Directors," said Mr. Hans Bredrup, Chairman of the Board of Directors at Pherousa. "Her remarkable achievements and deep industry knowledge will be invaluable as we navigate the ever-evolving landscape of decarbonizing the deep-sea shipping sector. We look forward to her strategic guidance and contributions towards our mission of creating a more sustainable future."
Mrs. De La Cruz expressed enthusiasm about joining PGS and stated, "I am honoured to be part of PGS's board and to contribute to their ground-breaking work in deep-sea shipping. Together, we have a tremendous opportunity to drive positive change and make a lasting impact on the environment. I am excited to collaborate with the talented team at PGS and help shape the future of sustainable technology."
With the addition of Mrs. De La Cruz, PGS is confident in its ability to leverage her expertise and forge ahead in its commitment to developing innovative, environmentally friendly solutions that address the world's pressing energy and sustainability challenges.
For further Information, please contact:
Hans Bredrup, Chairman
hans@pherousa.no
+47 90 95 11 29 / +56 99 887 30 36
Pherousa Green Technologies launches its technology for Zero Emission deep-sea shipping
Oslo, 31 May 2023
The only fuel that truly has zero carbon emissions is hydrogen, but hydrogen storage is the biggest challenge for deep-sea shipping. Pherousa Green Technologies AS (PGT) has solved this challenge by developing and proving the technical feasibility of an ammonia cracker allowing the use of ammonia as a hydrogen carrier onboard vessels in deep-sea shipping.
Pherousa Green Shipping AS (PGS), established in 2023 and headquartered in Oslo, is in the design stage of placing an order for up to 6 modern green-profiled Ultramax dry bulk carriers, designed by Deltamarin in Finland. The initial ship design is based on an existing Deltamarin ultramax model, adapted for the Pherousa Green Technology using ammonia, enabling true zero-emission propulsion.
At the core of this project is PGT’s advanced ammonia cracking technology, which allows the ship’s engines to be operated with a minimal amount of pilot fuel, hence providing a truly zero-emission vessel using enriched ammonia and hydrogen as fuel. The system also enables the use of pure hydrogen in PEM fuel cells instead of direct ammonia fuel cells for electric power production.
The PGT’s cracking system provides the next step in making deep-sea shipping truly zero emissions and allows the use of ammonia and hydrogen in a cost-efficient way.
Deltamarin, a renowned ship design and engineering company with a strong focus on alternative fuels and decarbonization in deep-sea shipping, has developed an innovative long endurance ammonia fuelled Ultramax bulk carrier concept together with PGT.
“The only fuel that is truly zero emission is hydrogen, but hydrogen storage is the biggest challenge for deep-sea shipping. Ammonia is the only readily available hydrogen carrier that has no carbon in its molecule, therefore the only truly zero-carbon hydrogen carrier. The ammonia cracking technology developed by PGT is a game changer that could become a major contributor toward the realization of the world´s zero-emission shipping” says the PGT Group Chairman Hans Bredrup.
PGT will deliver the “plug and play” ammonia crackers to PGS for installation onboard the newbuildings. The two companies also aim to enter into a strategic partnership agreement to drive the development of ammonia technology for use within the deep-sea segment.
The initial fleet of 6 Ultramax dry bulk carriers is aimed at the worldwide copper industry. Copper is a key component in global decarbonisation. The Copper industry has ambitious emission-cutting goals, including to reduce the emissions produced whilst copper is transported to end users, usually across the Pacific Ocean, either from South America or Australia. Ongoing & advanced conversations have been held with leading international mining companies for their employment of the new buildings.
PGT Is also working actively with fuel suppliers, yards, and financiers to ensure the timely delivery of this high quality zero emission transportation.
PGT, headquartered on the outskirts of Oslo, was founded in 2020 by Vasilis Besikiotis and Tonny Thorsen. Besikiotis is an international expert in hydrogen and has a PhD in the field of fuel cells and electrolysis, while Thorsen has a strong commercial background with 35 years of experience in shipping.
PGT is a technology transfer company that has the rights to commercialize the technology to crack and purify hydrogen from ammonia to fuel cell quality (ISO 14687:2019) for use in the maritime sector. PGT´s first prototype has been built and delivered with excellent results on efficiency and hydrogen purity.
Helbio Holdings S.A., a wholly owned subsidiary of Swedish Stocklisted Metacon AB, as well as HAV Group ASA, listed in Oslo, possess 10% each of the share capital of PGT and are important partners for further development, implementation and commercialization of the Pherousa technology.
AMMONIA
Ammonia is a very capable, highly available, easily liquified, and non-explosive hydrogen carrier. Bunkering ammonia and cracking it to hydrogen on a board a vessel can therefore solve the storage and infrastructure challenges of hydrogen as a marine fuel, thereby paving the way to truly-zero emission shipping already today.
For further Information, please contact:
Hans Bredrup, Chairman
hans@pherousa.no
+47 90 95 11 29 / +56 99 887 30 36
Oslo, 31 May 2023
The only fuel that truly has zero carbon emissions is hydrogen, but hydrogen storage is the biggest challenge for deep-sea shipping. Pherousa Green Technologies AS (PGT) has solved this challenge by developing and proving the technical feasibility of an ammonia cracker allowing the use of ammonia as a hydrogen carrier onboard vessels in deep-sea shipping.
Pherousa Green Shipping AS (PGS), established in 2023 and headquartered in Oslo, is in the design stage of placing an order for up to 6 modern green-profiled Ultramax dry bulk carriers, designed by Deltamarin in Finland. The initial ship design is based on an existing Deltamarin ultramax model, adapted for the Pherousa Green Technology using ammonia, enabling true zero-emission propulsion.
At the core of this project is PGT’s advanced ammonia cracking technology, which allows the ship’s engines to be operated with a minimal amount of pilot fuel, hence providing a truly zero-emission vessel using enriched ammonia and hydrogen as fuel. The system also enables the use of pure hydrogen in PEM fuel cells instead of direct ammonia fuel cells for electric power production.
The PGT’s cracking system provides the next step in making deep-sea shipping truly zero emissions and allows the use of ammonia and hydrogen in a cost-efficient way.
Deltamarin, a renowned ship design and engineering company with a strong focus on alternative fuels and decarbonization in deep-sea shipping, has developed an innovative long endurance ammonia fuelled Ultramax bulk carrier concept together with PGT.
“The only fuel that is truly zero emission is hydrogen, but hydrogen storage is the biggest challenge for deep-sea shipping. Ammonia is the only readily available hydrogen carrier that has no carbon in its molecule, therefore the only truly zero-carbon hydrogen carrier. The ammonia cracking technology developed by PGT is a game changer that could become a major contributor toward the realization of the world´s zero-emission shipping” says the PGT Group Chairman Hans Bredrup.
PGT will deliver the “plug and play” ammonia crackers to PGS for installation onboard the newbuildings. The two companies also aim to enter into a strategic partnership agreement to drive the development of ammonia technology for use within the deep-sea segment.
The initial fleet of 6 Ultramax dry bulk carriers is aimed at the worldwide copper industry. Copper is a key component in global decarbonisation. The Copper industry has ambitious emission-cutting goals, including to reduce the emissions produced whilst copper is transported to end users, usually across the Pacific Ocean, either from South America or Australia. Ongoing & advanced conversations have been held with leading international mining companies for their employment of the new buildings.
PGT Is also working actively with fuel suppliers, yards, and financiers to ensure the timely delivery of this high quality zero emission transportation.
PGT, headquartered on the outskirts of Oslo, was founded in 2020 by Vasilis Besikiotis and Tonny Thorsen. Besikiotis is an international expert in hydrogen and has a PhD in the field of fuel cells and electrolysis, while Thorsen has a strong commercial background with 35 years of experience in shipping.
PGT is a technology transfer company that has the rights to commercialize the technology to crack and purify hydrogen from ammonia to fuel cell quality (ISO 14687:2019) for use in the maritime sector. PGT´s first prototype has been built and delivered with excellent results on efficiency and hydrogen purity.
Helbio Holdings S.A., a wholly owned subsidiary of Swedish Stocklisted Metacon AB, as well as HAV Group ASA, listed in Oslo, possess 10% each of the share capital of PGT and are important partners for further development, implementation and commercialization of the Pherousa technology.
AMMONIA
Ammonia is a very capable, highly available, easily liquified, and non-explosive hydrogen carrier. Bunkering ammonia and cracking it to hydrogen on a board a vessel can therefore solve the storage and infrastructure challenges of hydrogen as a marine fuel, thereby paving the way to truly-zero emission shipping already today.
For further Information, please contact:
Hans Bredrup, Chairman
hans@pherousa.no
+47 90 95 11 29 / +56 99 887 30 36
