Eidesvik Offshore ASA enters into a MoU with Aker BP and Alma

Norwegian ship owner Eidesvik Offshore ASA ("Eidesvik") has entered into a Memorandum of Understanding ("MoU") with Aker BP and Alma, a venture under establishment by Clara Venture Labs (under name change from Prototech AS) to explore opportunities for utilising Alma's proprietary fuel cell technology to accelerate the move to zero emissions shipping.

Specifically, the companies will explore retrofit installation of Alma's ammonia fuel cell technology on two offshore support vessels: Eidesvik-owned Viking Lady and Aker BP-owned NS Frayja currently under Eidesvik's management, with the option to include further vessels in the scope of the project as well. The agreement is part of Eidesvik and Aker BP's ambitious joint technology project "Retrofit" that aims to reduce emissions from existing supply vessels.

"We are pleased and proud to have been selected as Aker BP's preferred partner in this important step towards more sustainable operations. The agreement is a demonstration of Eidesvik and Aker BP's clear desire and willingness to contribute to the development of a cleaner and more environmentally friendly shipping and offshore industry", said CEO & President of Eidesvik, Jan Fredrik Meling.

In the shipping industry, hydrogen and ammonia are considered the two main zero emission fuel candidates for future shipping. Today, many believe that ammonia represents the best option for longer voyages, such as the North Sea supply routes, where ships need to carry large amounts of fuel.

"We believe there is a great potential for significantly reducing emissions from the existing fleet with new technology. For us this MoU is a result of Eidesvik's long-term development program that has given us the knowledge and capacities needed to take on challenging and ground-breaking projects," says Meling.

Bømlo, November 9, 2021

Contacts:
CEO Jan Fredrik Meling ([phone])
CFO Tore Byberg ([phone])