Stolt-Nielsen Limited Acquires Stake in Alternative Energy Start-Up

Thursday, March 03, 2011

Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that it has acquired through one of its subsidiaries a non-controlling interest in Seaweed Energy Solutions AS ("SES"), an alternative energy start-up focused on the development of bioethanol and biogas production from the sustainable large-scale cultivation of seaweed.
 
Founded in 2006, SES holds a patent for the Seaweed Carrier, the first structure to allow the cultivation of seaweed on an industrial scale that is essential for creating the biomass required for the production of biofuels, without consuming scarce resources such as fresh water and arable land.
 
Financial terms of the transaction were not disclosed.
 
Commenting on the investment, CEO Niels G. Stolt-Nielsen said "The propulsion of our entire fleet is based on petroleum.  The raw material for many of our cargoes is petroleum.  I feel it is our duty, as well as being in our interest, to help develop alternative sources of energy and raw materials.  Through our experience as shipowners and fish farmers, we know a lot about the sea and wish to put that knowledge to work helping to make seaweed such a source."

Source: Stolt-Nielsen Limited

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

GEIMS Maritime Training accorded highest grade from DGS

GEIMS Maritime Training accorded highest grade from DGS Great Eastern Institute of Maritime Studies (GEIMS) is now the first approved maritime training Institution

BP Gulf Spill Trial Set For January

The high-stakes penalty phase of BP's trial over its role in the 2010 U.S. Gulf of Mexico oil spill will start next January, court officials said on Tuesday,

Canada To Keep Keystone XL Issue Alive With White House

Far from giving up on the Keystone XL pipeline to the United States, Finance Minister Joe Oliver said on Tuesday Canadawould keep the issue alive with the Obama

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1280 sec (8 req/sec)