New Name for MMC Green Technology

Maritime Activity Reports, Inc.

August 12, 2019

MMC Green Technology AS will be renamed Norwegian Greentech AS.

In connection with the sale of MMC First Process, it was agreed that MMC Green Technology would change its name. The new name is Norwegian Greentech AS, and Havyard Group ASA is the company's majority owner with 77.78% of the shares. The remaining shares are still owned by key employees who have been with the company since its formation.

Ballast water treatment system – a requirement
Ships built after September 8, 2017 are bound by the requirements of the IMO convention concerning treatment of ballast water, while existing ships must have a ballast water treatment system installed by September 8, 2024. Also, all ships are already required to have an approved ballast water management plan in place. These regulations will apply to all ships all over the world, not just in Norway, with effect from September  8, 2019.

"Norwegian Greentech has developed a compact, energy-efficient and user-friendly ballast water treatment system that fits in very well with our other focus areas. Norwegian Greentech has technology that contributes to strengthening our strategic focus as a sustainable technology company."  says chairman of the board Gunnar Larsen.

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