August 27th, 2019
Scanship Holding ASA through its subsidiary Scanship AS (“Scanship”) has today entered into a share purchase agreement (“Agreement”) for the acquisition of ETIA Ecotechnologies (“ETIA” or the “Company”).
Scanship and ETIA will jointly target all markets where pyrolysis can be deployed to convert organic waste, biomass, plastic and polymers into energy, fuels, biogenic materials or molecules for the purpose of decarbonizing energy, capturing carbon, valorising waste and creating end-of-waste solutions. The parties have the ambition to create a market leading supplier in the industries that will be addressed.
“Over the past years, we have built on Scanship’s position as the preferred supplier of waste management and wastewater purification solutions for cruise ships, we have moved into aquaculture and now most recently, also will deliver our first full-scale land-based solution. We have proven our ability to integrate advanced technology in commercially attractive solutions and profitable deliveries. The acquisition of ETIA is a logical next step. With the broader technology portfolio of ETIA, we will now expand of offering of land-based solutions,” says Henrik Badin, CEO of Scanship Holding. He continues:
“ETIA is European technology leader to valorise biomass residues and waste into renewable products, chemicals and fossil free energy through pyrolysis solutions. ETIA’s proven solutions for turning waste into valuable green products and climate friendly energy fit well with our ambitions to become a leading player in the circular economy, both at sea and on land,” says Henrik Badin, CEO of Scanship Holding.”
“Circular economy has been a key motivating factor for ETIA since the company’s inception in 1989. Like Scanship on marine applications, we have developed on-land compact solutions that capture valuable resources, prevent pollution and produce energy. Climate change and environmental issues must be addressed both on a global and local level, and our solutions can be adapted for both municipal and industrial applications. Scanship and ETIA share the same vision for the future, and we are impressed by Scanship’s proven skills and competences for system deliveries. By joining forces, we are making our combined offering even stronger,” says Dr. Olivier Lepez, Co-Founder and CEO of ETIA.