Norwegian ballast treatment system maker MMC Green Technology is to be renamed following a major stake in the company being taken by Havyard Group.
In connection with the sale of MMC First Process, it was agreed that MMC Green Technology would change its name. The new name is Norwegian Greentech AS, and Havyard Group ASA is the company's majority owner with 77.78% of the shares. The remaining shares are still owned by key employees who have been with the company since its formation.
‘Norwegian Greentech has developed a compact, energy-efficient and user-friendly ballast water treatment system that fits in very well with our other focus areas. Norwegian Greentech has technology that contributes to strengthening our strategic focus as a sustainable technology company. We look forward to continue to develop Norwegian Greentech’s potential together with the company's capable employees,’ said CEO Geir Johan Bakke.
‘We really believe in what we are doing, and this is the perfect time to invest in ballast water treatment. The market is finally gathering speed, and we have the potential to gain big market shares. We are very positive about continuing our work with Havyard, and they will be a good and important source of support in our work to ensure continued growth and development for the company,’ said Managing Director Håvard Gjelseth.
The MMC system which employs filtration and UV treatment was granted IMO type-approval in 2012 and also holds US AMS status. So far no application has been made to the USCG for US type-approval.