ST Energy Transition I, a blank check company created by John Fredriksen to target energy transition and clean energy technology, filed on Monday to raise up to $250m in an initial public offering in New York.
Fredriksen is chairing ST Energy Transition I with Gunnar Eliassen appointed CEO. Eliassen currently works for Fredriksen’s family holding company Seatankers Group and previously was a partner at Pareto Securities.
Seatankers has recently been repurposed to hunt new emerging business opportunities.
The new company said it plans to target energy transition opportunities, focusing on businesses with growth potential, earnings visibility, and defendable market positions.
Fredriksen’s long career in shipping has seen him make a number of tech investments, such as taking a significant stake in a scrubber manufacturer in the run up to the global sulphur cap two years ago.