Norway: New group to support maritime green shift

Four companies specializing in digitalization, energy efficiency and zero-emission solutions have joined forces in a new cleantech group under the name HAV Group ASA, Norwegian shipbuilder Havyard said.


As informed, HAV Design AS, HAV Hydrogen AS, Norwegian Electric Systems AS and Norwegian Greentech AS will collaborate on forward-looking energy-efficient solutions.

“Our customers have to address global megatrends, with very ambitious goals for minimising their environmental impact and increasingly stringent environmental requirements,” Gunnar Larsen, CEO of HAV Group, commented.

“HAV Group has the necessary know-how, experience and technology to provide customers with vessels and equipment to achieve these goals, while also increasing profitability, competitiveness and sustainability.”

Technology for the green shift

HAV Group’s vision is to contribute to the green shift in the maritime and marine industry by producing innovative and profitable solutions.

“We are now establishing HAV Group to further enhance innovation so we can steer the maritime and marine industry through the green shift, contribute to reducing environmental footprint, reduce emissions and accelerate the development towards zero emissions,” according to Larsen.

Specifically, HAV Design delivers energy-efficient and environmentally friendly ship designs. What is more,  HAV Hydrogen has developed a hydrogen system that enables even larger ships to sail greater distances emission free.

Related Article

Additionally, Norwegian Electric Systems has smart control systems and energy designs that result in safe, efficient and environmentally friendly ships, while Norwegian Greentech delivers compact, energy-efficient ballast water treatment systems and water treatment systems for the aquaculture industry.

“When we look at what we have delivered, including a record number of battery-operated ferries, we feel we can safely say that we’re already under way,” the company’s CEO continued.

Private placement and stock exchange listing

HAV Group strengthened its capital through a private placement last week and is therefore said to be in pole position to invest in further development and growth.

HAV Group raised NOK 210 million (about $24.5 million) through a private placement. The placement included NOK 90 million in new shares and NOK 120 million in sales of existing shares. The placement attracted strong interest from Norwegian and international investors.

The group applied for listing of the company on Euronext Growth and was admitted for trading on 4 March.

Larsen further said that the companies in the group will generate more value together than individually, and that the stock exchange listing is related to their wish to enable investments in a listed growth company and to position the new group for growth.

“We will pursue an active ownership strategy to create value for our owners through strategic development of each individual company and the companies together. We’ll do this by stimulating cooperation and synergies between the companies, as well as profitable growth,” he pointed out.