- TORM (TRMD, Financial) has acquired the remaining 25% stake in ME Production (MEP), thereby achieving full ownership and bolstering green maritime innovation.
- ME Production has installed over 70 exhaust gas cleaning systems on TORM vessels, contributing to a 40% reduction in CO₂ intensity.
- MEP will continue operating independently in Denmark, focusing on energy-efficient technologies like heat pump systems.
TORM (TRMD) has successfully acquired the remaining 25% of ME Production (MEP), a Danish company known for its expertise in green maritime equipment, cementing full ownership following an initial 75% stake acquisition in 2022. This strategic move enhances TORM’s ability to innovate and develop green maritime technologies.
The relationship between TORM and MEP began in 2018, with MEP playing a critical role in installing over 70 exhaust gas cleaning systems on TORM vessels. Through this partnership, TORM has surpassed the International Maritime Organization’s (IMO) 2030 CO₂ intensity reduction target six years ahead of schedule.
Supporting Growth and Innovation at MEP
ME Production will maintain its independence, retaining its headquarters in Frederikshavn, Denmark, and continue serving a global marine and industrial clientele. The company’s key innovations, such as heat pump systems designed to reduce energy use in both maritime and industrial settings, align with TORM’s commitment to environmental sustainability. By gaining complete control over MEP, TORM aims to provide increased strategic support and investment, positioning MEP as a significant innovation hub for clean maritime technology.
This acquisition allows TORM to integrate critical environmental systems and proprietary technologies, ensuring a competitive advantage as the maritime industry faces intensifying environmental regulations. By maintaining MEP’s innovation-driven ecosystem, TORM intends to foster further industry advancements. Jesper S. Jensen, Head of the Technical Division at TORM, expressed confidence that full ownership of MEP would enhance the company’s capacity to meet environmental goals and add value to the wider maritime sector.
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Source: TORM
