Q2 2021: Establishing a Joint Venture

North Ammonia is established as a Joint Venture, owned 50% by Grieg Edge and 50% by AFK Energy, dedicated to enable change in the maritime sector. The comany will originate, develop, own and operate green ammonia production facilities in Norway and abroad, in order to support large-scale emission reductions in the maritime industry and other hard-to-abate sectors.

Grieg Edge is the dedicated innovation unit within the Grieg Maritime Group, a family-owned business with roots back to 1884. Grieg Edge aims to identify and develop new business opportunities within shipping and related maritime segments – always with sustainability as a requirement. Grieg Edge has taken an active role in exploring the fuels of the future for deep-sea shipping and have actively developed green ammonia as a feasible marine fuel through various initiatives and partnerships.

AFK Energy is part of Arendals Fossekompani, a Oslo Stock Exchange listed clean technology industrial investment company founded in 1896, actively developing companies and promoting renewable energy to enable the transmission to a green economy across the globe. Arendals Fossekompani combines industrial competence, commercial skills and financial strength to continually develop a portfolio of technology and energy related companies in an international market.