Østensjø 2. July, 2021 Hydrogenious LOHC Technologies and Østensjø Group join forces and tread a novel path towards safe zero-emission shipping Hydrogenious LOHC Maritime AS to develop new emission-free onboard propulsion system with promising LOHC/fuel cell solution for the global shipping industry Enova supports initial project HyNjord with 2.5 million Euros Haugesund/Norway – Erlangen/Germany, 2 July 2021. Hydrogenious LOHC Technologies GmbH and Johannes Østensjø dy AS have founded the joint venture company Hydrogenious LOHC Maritime AS. The aim is to develop and market emission-free propulsion systems for the global shipping market based on liquid organic hydrogen carrier (LOHC). The company is aiming to have a megawatt-scale commercial product ready by 2025. By binding the hydrogen to the LOHC, this will be a particularly safe and low-cost technology. Enova, owned by the Norwegian Ministry of Climate and Environment, announced today to support the joint venture’s initial project HyNjord with NOK 26 million (about 2.5 million Euros). LOHC is suitable for storing and transporting maritime hydrogen LOHC is an organic oil loaded with hydrogen. German based Hydrogenious LOHC Technology has developed and patented the LOHC technology, which is a process of loading hydrogen in a thermal oil as well as releasing it where and when it’s needed. An important challenge for using hydrogen in shipping is safety. LOHC solves this, as it is neither inflammable nor explosive. This makes the technology a particularly safe, easy and efficient way of storing and transporting hydrogen. This is expected to revolutionise the supply chain for hydrogen, as LOHC can be used to store and transport large quantities of hydrogen under ambient conditions, using the already existing fossil fuel infrastructure. The carrier oil – Benzyltoluene – can be loaded and unloaded with hydrogen many hundreds of times and is recyclable many times over. The energy density of LOHC is also favourable, as a vessel can store 2-3 times more energy compared to compressed hydrogen. “Our technology is very suitable for maritime use. It is optimal for us to bring our stationary systems, not first on the road, but sensibly on the water. Thus, we are very happy to have found the ideal partner in the Østensjø Group. The Østensjø Group, which is well established not only in Norway but also internationally, has seen LOHC as the game changer for the decarbonisation of shipping for some time”, comments Dr Daniel Teichmann, CEO and founder of Hydrogenious LOHC Technologies. Dr. Daniel Teicmann, CEO and founder of Hydrogenious LOHC Technologies, and the Chairperson of the Board of the newly founded joint venture Hydrogenious LOHC Maritime AS. Photo: Hydrogenious LOHC Technologies GmbH “The Østensjø Group is committed to take part in the energy transition and to find ways to cut emissions. Of all the potential zero-emission technologies, we find LOHC the most promising one. That is why we have prepared all six service operation vessels under construction in our subsidiary, Edda Wind, for LOHC-based propulsion. Safety is of course very important for us in these evaluations. However, the fact that we can use existing fuel infrastructure and are able to use familiar fuelling procedures is of importance. In addition, we can easily carry enough energy onboard our vessels in order to operate in normal intervals of up to four weeks without refueling”, says Håvard Framnes, Investment Director in Østensjø. Håvard Framnes, Østensjø Group Investment Director as well as a board member in Hydrogenious LOHC Maritime AS Huge market potential for the new company The joint venture has an exclusive worldwide license agreement with Hydrogenious LOHC Technologies for maritime use of the technology. “Hydrogenious LOHC Maritime AS will make our proprietary LOHC technology available for onboard solutions for sustainable maritime traffic”, comments Dr Daniel Teichmann. “In Østensjø, we are very excited about this joint venture and the cooperation with Hydrogenious LOHC Technologies. We believe the technology provided by the joint venture can be suitable for most shipping segments, which makes the market potential huge for the company”, says Håvard Framnes. Receives funding from Norwegian government enterprise Enova Enova SF has decided to fund the development of a 200 kw pilot of the LOHC/fuel cell propulsion system – the focus of the first joint venture project HyNjord – with NOK 26 million (about 2.5 million Euros). The planned application will integrate three core components on-board: The LOHC Release Unit, which releases hydrogen from the liquid organic carrier Benzyltoluene on demand on the ship, as well as a fuel cell and an interface to the ship’s power management system. “We see a need to develop technologies for the use of various zero-emission energy carriers. LOHC will be a new alternative to compressed and fluid hydrogen, and the different energy carriers will probably have different advantages and areas of application. The HyNjord LOHC-project will give us valuable information in order to contribute for hydrogen to become a real alternative to fossile fuels”, says Øyvind Leistad, Marketing Director in Enova. About Hydrogenious LOCH Maritime AS Hydrogenious LOHC Maritime AS treads a new path towards safe zero-emission shipping. The joint venture of Hydrogenious LOHC Technologies and Østensjø Group develops and markets an emission-free onboard propulsion system, based on a first of its kind LOHC/fuel cell solution. One compelling competitive advantage besides its special safety: Hydrogenious’ Liquid Organic Hydrogen Carrier allows for utilizing existing bunkering facilities onboard as well as in the ports. Based in Norway, the arising supplier for a global sustainable shipping industry brings together congenial strengths of its two shareholders for the benefit of very safe, easy and cost-efficient decarbonisation of shipping: With its proprietary LOHC technology, the German Hydrogenious LOHC Technologies GmbH is changing the way to handle hydrogen, revolutionising the supply chain for green hydrogen also for the global shipping industry. The international market-leading pioneer holds a 70 percent stake Norwegian shipping group Johannes Østensjø dy AS contributes its international maritime expertise that has grown over decades and holds 30 percent of the company. www.hydrogenious-maritime.net About Hydrogenious LOCH Technologies GmbH Hydrogenious LOHC Technologies adds the missing link to high-performing hydrogen value chains globally. Based on its proprietary and proven Liquid Organic Hydrogen Carrier (LOHC) technology with Benzyl toluene as carrier medium, Hydrogenious allows for superior, flexible hydrogen supply to consumers in industry and mobility across the globe – utilizing conventional liquid-fuel infrastructure. The leading LOHC pioneer offers (de-)hydrogenation plants and O&M services, ensuring safe, easy and efficient hydrogen storage, transport and distribution. The German-based SME was awarded with i.a. “The Innovation Prize of the German Economy” as well as has been recognized on the “Global Cleantech 100” list since 2018 and as “Technology Pioneer 2021” by the World Economic Forum. With its >120 staff members and strategic investors AP-Ventures, Covestro, Hyundai Motor Company, Mitsubishi Corporation, Royal Vopak and Winkelmann Group, the midstream player is a major enabler and accelerator for the energy transition. www.hydrogenious.net Media Contact Hydrogenious LOHC Group: Birka Friedrich, Head of Marketing and Corporate Communications birka.friedrich@hydrogenious.net Hydrogenious LOHC Technologies GmbH, Weidenweg 13, 91058 Erlangen, Germany Hydrogenious LOHC Maritime AS, Smedasundet 97, 5525 Haugesund, Norway About Østensjø Group Johannes Østensjø dy AS (the Østensjø Group) is a privately owned company, established in 1974. Østensjø is a leading provider of offshore services, and the Group owns and operates vessels within offshore wind, terminal towage, offshore oil & gas and offshore accommodation. Management of the fleet is done by Østensjø Rederi AS. The group also provides crewing services to shipping companies. Østensjø is headquartered in Haugesund, Norway with offices in United Kingdom, Poland and Malta. https://ostensjo.no Media Contact Katrine Hustvedt, Finance and Communication Coordinator katrine.hustvedt@ostensjo.no Østensjø Rederi AS, Smedasundet 97, 5525 Haugesund, Norway News archive Introducing the Østensjø Rederi Sustainability Action Plan Hydrogenious LOHC Technologies and Østensjø Group join forces and tread a novel path towards safe zero-emission shipping Day of the Seafarer Østensjø Rederi and Edda Accommodation appoints new CEO Edda Wind establishes its own management Edda Wind orders two additional CSOVs and prepares for initial public offering TRAVELOGUE – SLOW AHEAD TO HOME WATERS DURING A PANDEMIC Østensjø Rederi awarded multiple long-term contracts ENGINE CADET SIVERT MIGUEL HELLAND: KNOWLEDGE IS MY MOST IMPORTANT DRIVE 2021 – Renewables effort increases competitiveness Østensjø Rederi’s company magazine, Sjøfartstidene 2020, is now available online Accommodation vessel Edda Fides secures contract Greener offshore operations with batteries and shore power Møkster Investering becomes owner in Mercator Crewing Østensjø and Wilhelmsen join forces to fast track growth of renewable energy company Edda Wind Edda Wind secures long term contracts for two offshore wind vessels New Chartering Manager Renewables Østensjø Rederi – winner of Defence Industry Awards Østensjø Rederi grows its offshore wind business by ordering four CSOVs prepared for zero emissions New partnership aims to provide premium marine services to the US offshore wind energy sector We shall be a leader whitin substainable operations Leave your h*rse, rucksack and umbrella at home! Commissioning of HMNZS Manawanui Cadet Natalie Knutsen: I’m a lucky sailor CEO of Edda Accommodation, Johan Rokstad, retires Always ”hands on” for Østensjø Rederi Ownership of Edda Fonn officially transferred to New Zealand’s Ministry of Defense Edda Fonn has berthed in Wellington, NZ Østensjø Rederi and Edda Accommodation at OTC 2019 Offshore wind power – an exciting market for Østensjø Rederi Edda Fonn on her way to New Zealand Johannes Østensjø dy AS acquires Norwegian Maritime Services AS Escorting Viking Sky to safety Sailors ashore: Implementation of new personnel system Complex Operations for Edda Fjord New name for “Sun Enabler” Looking back and moving forward: the Company’s market challenges and financial position New contract for Østensjø Rederi at the end of the year Sjøfartstidene 2018 New contract for Sun Enabler New contract for Edda Fauna will secure winter utilization Østensjø Rederi awarded five-year contract with Norske Shell An important part of the rescue operation New contract for Edda Flora New contract for Edda Fauna Video: Edda Passat at Race Bank offshore wind farm Facts about Edda Mistral Delivery of Edda Mistral Østensjø Rederi at ONS 2018 Østensjø Rederi has agreed to sell Edda Fonn Safeguarding Martin Linge Edda Mistral takes us one step closer to a greener world Edda Passat at Race Bank Offshore Wind Farm Edda Frende awarded Shell UK contract An additional one-year option for “Vivax” at Nyhamna Edda Freya on Discovery’s “Mighty Ships” Edda Freya – Deep Ocean awarded contract with Statoil Delivery of Edda Passat Double naming ceremony Sjøfartstidene 2017 Tug of the year 2017 Triple naming ceremony in Hammerfest Delivery of Audax Edda Frende off to Ireland Bareboat agreement Delivery of Dux New contract with Fairfield 24/7 Chartering +47 908 73 689 chartering@ostensjo.no Share this Østensjø Rederi Smedasundet 97, Haugesund, Norway Get in touch Phone: +47 52 70 45 45 Email: Follow us Disclaimer