Scorpio Bulkers Inc. intends to change its name to Eneti Inc as part of its transition away from the dry bulk business towards marine-based renewable energy.
The company will change its name to Eneti Inc., subject to approval at an Extraordinary General Meeting on Feb. 3, it said.
Transition to wind turbines
Scorpio Bulkers Inc. announced on August 3, 2020, its intention to transition away from the business of dry bulk commodity transportation and towards marine-based renewable energy including investing in the next generation of wind turbine installation vessels.
“The Company intends to sell or have commitments to sell its remaining wholly-owned or finance leased dry bulk vessels during the first quarter of 2021,” the company informed.
Progress to low carbon technologies
Emanuele A. Lauro, the company’s co-founder, Chairman, and Chief Executive Officer explained that the strategic rationale, the financials, and the long-term outlook in this area of renewables was highly compelling for Scorpio Bulkers’ future.
The move into renewables has been described as a natural progression for the company as many of Scorpio’s clients transition from fossil fuels to low carbon technologies and less-polluting energy sources.
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Source: Scorpio Bulkers Inc.
