Norway //

Grieg Star creates innovation spin-off with sustainability in mind

Posted on November 19, 2020

Norwegian shipowner Grieg Star has set up a separate company, named Grieg Edge, to drive innovations within sustainable maritime services. 

As informed, the new subsidiary has already taken over the practical follow up of Grieg Star’s participation in the Zero Emission Energy Distribution at Sea (ZEEDS) initiative that envisions making zero-emission fuels available to the shipping industry.

What is more, the company has started developing several new projects, aiming to identify and develop new business opportunities within shipping and related maritime segments – with sustainability as a requirement.

“Shipping has prided itself on being the most environmentally friendly way of transporting cargo. It is time to take it further. Industry disruption, climate change and shifts in customer behaviour demand a new approach,” Matt Duke, Grieg Star Group CEO, pointed out.

“For our deep-sea investments, we have a … platform for innovation with G2 Ocean, and together with our partner Gearbulk we will strive to develop the Open Hatch trade further.”

“But looking adjacent to our core business, we see a multitude of challenges that require new sustainable solutions. These solutions will both have a positive environmental effect, but also serve as a catalyst to new business models and developing our group competencies.”

“This new knowledge, new business models and the ability to look beyond our main activities will be highly valuable in its own right. It will also provide a critical knowledge platform that can benefit our core ship owning and ship management divisions. We are confident that Grieg Edge will be able to solve several of the problems our industry & society face today,” Duke concluded.

The head of Grieg Edge is Nicolai Grieg, former Head of Finance at Grieg Star.

“In the Grieg Group, we say that we will restore our oceans. Grieg Edge as a company is dedicated to this work and with the ambition to take part in the development of new sustainable businesses and technologies. We focus on short-sea shipping, offshore wind, energy and infrastructure, and cleaning up the seas,” Grieg explained.

Source: offshore-energy.biz