Green NortH2 Energy, Meriaura and Wärtsilä Cooperate in Building a Cargo Vessel

Source: www.gulfoilandgas.com 9/22/2022, Location: Europe

Green NortH2 Energy, Meriaura and Wärtsilä have signed a Letter of Intent for the building of a cargo vessel that runs on green ammonia. The vessel, equipped with Wärtsilä’s modular multifuel main engines, will be ordered and operated by Meriaura, and Green NortH2 Energy is responsible for supplying green ammonia fuel, which is produced with renewable electricity. The delivery of the vessel is targeted for 2024 and it is planned to start operating on green ammonia in 2026.

Green ammonia has a significant role in reducing greenhouse gas emissions of shipping because the energy needs of this industry cannot be met with battery technology. Compared to hydrogen, it can be stored and moved more easily, and its logistical network already exists.

The vessel is designed to trade in heavy project cargo segment together with Meriaura’s existing open deck carriers. Besides ammonia, it can be powered by bio oil or MDO. Meriaura has a long history as a forerunner of renewable energy solutions for short sea shipping activities.

“This is a natural step in Meriaura’s future fleet portfolio, complementing the fuel mix together with our in-house biofuel (LBO) production. This collaboration supports our ongoing newbuilding program and carbon neutrality goals”, says Jussi Mälkiä, Chairman of Meriaura.

Savosolar Oyj and Meriaura Oy to merge with a share exchange
Savosolar Oyj has signed a conditional share exchange agreement on 29 August 2022 with VG-Shipping Oy to acquire marine logistics company Meriaura Oy and the business of VG EcoFuel Oy, producer and marketer of biofuels. Savosolar’s current shareholders will own 30% and VG-Shipping 70% of the new corporate entity.

Planned merger helps meet the demand for renewable energy
Together, Savosolar, Meriaura, and VG EcoFuel can meet the growing demand for solutions based on renewable energy and fill the supply gap. The merger will speed up business expansion in solar heat, low-carbon marine logistics, and other projects promoting the green transition.


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