Norwegian owner Golden Energy Offshore Services (GEOS) is teaming up with compatriot green hydrogen player Gen2 Energy to explore the use of hydrogen-based fuels for its fleet.
The two companies have penned a letter of intent to also work together on the identification of suitable locations for the availability of the alternative hydrogen-based fuel types.
GEOS recently raised around NOK7.5m ($777k) through a private placement of new ordinary shares, intended amongst other things to accelerate its decarbonisation process. The company operates a fleet of four vessels and is said to be actively pursuing opportunities for growing the fleet.
“We hope that Golden Energy Offshore and Gen2 Energy together can find zero-emissions solutions that are attractive to our customers and capable of being implemented both on existing vessels in the fleet and newbuilds. The markets we are serving are increasingly demanding the most environmentally friendly solutions as using hydrogen including methanol and ammonia. Teaming up with Gen2 Energy may enable us to provide solutions even beyond our high green standard.”, says Per Ivar Fagervoll CEO in Golden Energy Offshore.
Gen2 Energy is currently developing large scale production of hydrogen in Mosjøen in northern Norway with a view to establishing the needed bunkering infrastructure and exporting some of the product to neighbouring countries in northern Europe.
“The positive dialogue and collaboration with Golden Energy Offshore confirms the strong interest in finding solutions for using green hydrogen as fuel in maritime transport. We believe hydrogen for maritime application is a fuel for the future, as it can both reduce CO2 emissions significantly and it could be provided at cost competitive levels against fossil-based fuel”, added Jonas Meyer, CEO of Gen2 Energy.