Hunter Group ASA

Environmental & Social Information • Mar 6, 2023

HUNTER GROUP ASA AND DNV SIGN CCS DEVELOPMENT AGREEMENT

Erik A S Frydendal (right), Hunter Group CEO with Trond Hodne, Business Director Maritime, DNV after the signing of the JCA at the DNV Head Office at Høvik

6 March 2023

Hunter Group ASA and DNV have entered into a joint cooperation agreement for the development of a low pressure mid-stream shipping solution for Carbon Capture and Storage. The parties have agreed to work together to develop a 40-70K cbm liquified CO2 carrier with 20-30K cbm feeder vessels with the aim to meet defined targets towards a sustainable CCS shipping solution to be operated on the Norwegian Continental Shelf and European waters. Both technological and operational measures will be assessed, as well as hull and cargo tank designs. Alternative fuels such as ammonia, methanol, fuel cells and CO2 abatement technologies will also be evaluated as part of this project.

In order for the world to get to net zero emissions by 2050, CCS will play a key role. A large portion of the captured CO2 will involve seaborne transportation, which will require a substantial number of large CO2 carriers. While short term goals can be achieved by currently available technology, intermediate and long term sustainable solutions require further study and need to be developed.

CEO Erik A.S. Frydendal of Hunter Group says: "We are looking forward to working closely with the highly competent people at DNV, a world leading Classification Society and the only one with CO2 transportation experience, to develop a shipping solution that will contribute to dramatically to reduce GHG Emissions and hopefully get us closer to reaching the goals of Net Zero by 2050."

Trond Hodne, Business Director Maritime of DNV says: "We are looking forward to working with Hunter Group in order to attempt to solve the challenges facing CCS shipping, both when it comes to hull and cargo designs as well as choice of fuel."

Hunter Group contact:

Erik A.S. Frydendal, CEO Hunter Group ASA, Ph. +47 957 72 947 E-mail: ef@huntergroup.no

DNV contact:

Margrethe Andersen, Head of External Communications, Maritime, DNV, Ph. +47 476 82 289 E-mail: margrethe.andersen@dnv.com

Dronningen 1, 0287 Oslo, Norway

Ph.: +47 21 38 44 18 * email: info@huntergroup.no * Foretaksregisteret - Organization Number: 985 955 107 \* www.huntergroup.no