TORM becomes sole owner of green energy solutions provider

Danish shipping company TORM has decided to take full ownership of ME Production (MEP), a compatriot specialist in marine and energy equipment.

As informed, TORM has acquired the remaining 25% ownership stake in ME Production (MEP) from founder and CEO Jens Peter Faldt.

This expansion follows TORM’s initial acquisition of a 75% ownership stake in 2022. Now, TORM has full ownership of MEP.

The two companies have been collaborating since 2018, when a joint venture was established to manufacture exhaust gas cleaning systems (scrubbers) in China. Since then, more than 70 systems have been installed on TORM vessels.

As sole owner, TORM intends to provide strengthened strategic support and investment in MEP, which will enable MEP to grow its role as a center for industrial innovation.

The shipowner considers MEP a technical development hub that supports TORM’s environmental goals and creates long-term value across the industry, enabled by competencies and innovation from TORM’s integrated platform for ship operation.

Through their strategic partnership, TORM and MEP have already achieved significant results. In 2024, TORM achieved a 40% reduction in CO₂ intensity compared to 2008. The technical collaboration between the two companies played a key role in reaching this milestone, as per TORM.

To stay ahead, continued innovation and investment are needed, the company believes.

“By bringing MEP fully into the TORM Group, we can strengthen our innovation efforts and scale the technologies that support our environmental strategy,” Jesper S. Jensen, Head of Technical Division at TORM, commented.

“MEP has proven its value as an engineering and innovation partner. With our support and full ownership, I am confident that it can deliver even more value to TORM and not least to the wider maritime sector.”

MEP, which develops a range of green energy solutions such as heat pump systems and scrubbers, will continue to operate as an independent company with headquarters in Frederikshavn, Denmark, and will continue to use its global service network to serve its broad marine and industrial customer base.

“With our vision in mind to provide clean technologies, we need a strong partner and greater investment in R&D to bring new products and services to market. I believe this is the right time for MEP to join a committed owner. With full support from TORM, we are well positioned to pursue our ambitions and expand the reach of our technologies,” Jens Peter Faldt, CEO of ME Production, highlighted.