HAV Group ASA: Funding awarded to realise five hydrogen-powered dry-bulk newbuilds
19 June 2024 - Norwegian state-owned Enova has awarded NOK 300 million ininnovation funding to a Maris Fiducia Norway AS, with HAV Group subsidiary HAVHydrogen and Norwegian Hydrogen as subcontractors, to develop, build andoperatefive hydrogen-powered dry-bulk vessels. Reference is made to the stock exchange announcement about the partnershipdated13 May 2024.
The NOK 300 million grant is awarded under Enova's "hydrogen invessels"-programme, which aims to contribute to market change by supportingcompanies that will use hydrogen as fuel in vessels and support thedevelopmentof zero emission vessel technologies.
Maris Fiducia Norway, which is the Norwegian operation of Dutch shipownerMarisFiducia, will manage and operate the five vessels. When built the fivedry-bulkcarriers will go on hire through a zero-emission time charter agreement withSchulte & Bruns, establishing a commercial operation for vessels operating onhydrogen fuel, proving the feasibility of hydrogen technologies for shipping.
The 6,000 dwt vessels are designed by the Dutch ship designer Ankerbeer with ahull design optimised for efficiency and low fuel consumption. The power plantshall consist of a dual fuel hydrogen ICE combined with fuel cells forauxiliarypower.
H2 system on board
In addition to the Dual Fuel ICE, the plan is to equip the five vessels with aZero Emission Pod - ZEPOD® - a module containing a complete hydrogen energysystem for ships, delivered by Norway-based HAV Hydrogen - a wholly ownedsubsidiary of HAV Group ASA.
Each of the ZEPODs are intended to be delivered with a total capacity of 400kW,which is enough to run all auxiliary systems on board the bulk carriers TheZEPODs can be upgraded to 1 MW capacity at a later stage. HAV Hydrogen is currently developing its first full-scale ZEPOD, which will beready for testing next year. Preliminary delivery schedule shows that thesequence of delivery will commence from the end of 2025, depending onshipyard.
"This brings us another step closer to the commercial breakthrough for ourhydrogen-based energy systems for ships. Everyone knows that the shippingindustry needs to lower emissions, but it relies on companies such as MarisFiducia Norway to pave the way. We are delighted to be part of thispartnershipand to help develop the future for short sea cargo together with Maris Fiduciaand Norwegian Hydrogen," says Kristian Osnes, managing director of HAVHydrogen.
Leading hydrogen producer and distributor Norwegian Hydrogen will providesecurity of supply for Maris Fiducia and Schulte & Bruns by providing all thegreen hydrogen fuel for the five dry bulk carriers.
Following acceptance of Enova's innovation funding offer and subsequentplacement of newbuild contract with its chosen shipyard, Maris Fiducia willenter into discussions with HAV Hydrogen and Norwegian Hydrogen to agree oncommercial terms and delivery structure for the cooperation project.
Enova supports tomorrow's energy and climate technology, so that Norway willreach the climate goals for 2050. Enova manages the Climate and Energy Fundandis a state-owned enterprise owned by the Norwegian Ministry of Climate andEnergy. (ENDS)
For further information, please contact:Gunnar Larsen, CEO gunnar.larsen@havgroup.no +47 901 05 694
About HAV Group | www.havgroup.no HAV Group and its subsidiaries (together: "HAV Group") is an internationalprovider of technology and services for maritime and marine industries. HAVGroup has several decades of industry experience, in addition to specialexpertise in guiding the marine and maritime industries through the greenshiftand towards the goal of zero emissions. HAV Group ASA is listed on EuronextGrowth under the ticker code HAV.
About HAV Hydrogen | www.havhydrogen.no HAV Hydrogen delivers complete and scalable hydrogen systems for use on boardlarge and small vessels, newbuilds and retrofitted. Based on our Norwegianheritage, experience, quality focus and innovative solutions, our insightprovides our customers with a head start, increases their competitiveness, andenables them to realize the green shift towards a sustainable future at sea.
https://newsweb.oslobors.no/message/621907