- Metacon AB increases its shareholding in Pherousa AS to 35% through Metacon SA.
- The companies have updated their exclusive license agreement for ammonia cracking technology for vessels.
- Metacon SA joins the EU-funded Safecraft project, securing KEUR 265 in funding over 36 months.
- Pherousa acquires Pherousa Green Shipping AS, integrating it into their ammonia-powered shipping operations.
Metacon AB has enhanced its involvement with Pherousa AS by increasing its shareholding to approximately 35% through its wholly owned subsidiary, Metacon SA. As part of this expansion, Metacon and Pherousa have updated their exclusive license agreement for the ammonia cracking technology, designed for use on vessels. In addition, Metacon SA has become a project partner in the EU-funded Safecraft initiative, securing funding of approximately KEUR 265 over a period of 36 months.
Strategic Growth and Licensing Agreement
Alongside Metacon’s increased shareholding, Cordia AS, a Norwegian company controlled by Pherousa’s Chairman, Mr. Hans Bredrup, has raised its stake in Pherousa to about 50%. The collaboration between Metacon and Pherousa is part of a broader business strategy that includes active participation in the Safecraft project, involving 11 parties across six countries. The project aims to advance green technologies and drive sustainability in maritime operations.
Acquisition and Advancements in Ammonia-Powered Shipping
Pherousa has recently acquired Pherousa Green Shipping AS, now fully integrated into its operations. This acquisition includes the design and planned construction of six ammonia-powered cargo vessels based on the Ultramax model by Finnish shipbuilder Deltamarin. As a result, Metacon now indirectly holds a stake in this new subsidiary of Pherousa. In 2024, Pherousa continued its work on ammonia-based technologies in close partnership with major marine classification societies, focusing on securing an Approval in Principle (AiP) for their innovative solutions.
A Vision for CO2-Free Shipping Decarbonization
Christer Wikner, CEO of Metacon and a board member of Pherousa, expressed his enthusiasm for the progress made by Pherousa in its ammonia-based technology for ships. He emphasized that ammonia is a leading CO2-free solution for decarbonizing deep-sea shipping, with both fuel cell and combustion engine options for marine drive systems. If the ammonia cracking technology proves viable on board ships, it could unlock vast potential in the future maritime market.
Metacon’s Push for Sustainable Maritime Solutions
Metacon’s increasing stake in Pherousa and its active role in the EU-funded Safecraft project signals a commitment to advancing sustainable technologies in the maritime industry. With the continued development of ammonia-powered vessels, the potential to revolutionize shipping decarbonization is on the horizon, creating new opportunities for cleaner maritime operations.
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Source: Cision
