Clean Marine to evaluate strategic alternatives
Clean Marine develops and supplies exhaust gas cleaning
systems (“EGCS”) for marine applications. An EGCS removes environmentally
harmful sulphur from exhaust gas while allowing the vessel to use low-cost and
readily available Heavy Fuel Oil.
The company was founded in 2006, has developed extensive
experience in process technology tailormade for the maritime industry and has had
EGCSs in daily operation since 2014.
Clean Marine delivers patented open, hybrid and closed loop
systems for the commodity shipping market, both for new-build and retrofit. The Company has built a strong position with
top tier clients in the maritime industry, including International Seaways, Dorian
LPG, BP and Stolt-Nielsen amongst others.
Following rapid growth in demand during 2018, and an order book now
surpassing 100 units, the Company is in the process of building capacity to
deliver 200 units per year.
The Board of Directors has decided to explore strategic
alternatives, and Pareto Securities has been retained as financial advisor in
connection with this process.
Any enquiries should be directed towards the chairman of
Clean Marine, Robert Toms, or Pareto Securities.