The following is an Opcon Press Release dated today April 7th. - the link to this press release is .............. http://feed.ne.cision.com/wpyfs/00/00/00/00/00/10/F2/E2/wkr0011.pdf
It is great to see some continued and vibrant action back at Opcon 'home base'. It would be nice to hear something on the local front!
"Opcon Powerbox to be installed on Wallenius ship fuel saving of up to 6%Opcon, the energy and environmental technology Group, has signed an agreement with Wallenius Marineconcerning a first reference installation of Opcon Powerbox on one of Wallenius ships. The initial installation, which aims to utilise waste heat for production of electricity onboard, is expected to achieve a fuel saving of between four and six per cent and will be the first installation of Opcon Powerbox onboard a ship.
We expect major environmental gains from this. Just Wallenius own vessels consumes about 200,000- 250,000 tons of bunker fuel a year. A fuel saving of between four and six per cent means that we cut emissions of carbon dioxide with about 37 000 tons a year and sulphur dioxide with some 150 tons a year says Per Croner, CEO of Wallenius Marine AB.
The agreement follows a long period of co-operation during which the conditions for installing Opcons technology for producing electricity from waste heat onboard Wallenius ships have been studied.
The opportunities that Opcon Powerbox offers for utilising waste heat and reducing fuel consumption onboard our ships are among the most interesting we have seen in this field. A fuel saving of between four and six per cent is considerable in this context. In future we see opportunities to use this technology and make savings of up to ten per cent. We aim to install Opcon Powerbox on all of our new vessels and on most of our existing ones in future. We want to be among the leaders in the shipping sector in reducingenergy consumption and cutting emissions, says Per Croner, CEO of Wallenius Marine AB.
Wallenius Marine has responsibility for crewing, operation, technical and environmental development of the Wallenius fleet and for EUKOR Car Carriers in their programme of new construction. Through subsidiaries and together with partners, Wallenius controls more than 150 vessels. This agreement marks a breakthrough for Opcon in the marine sector, which has every prospect of becoming one of the most prominent market segments for Opcon Powerbox in the long term. It is very significant for us to gain Wallenius, with its vast experience and its publicised aim of improving energyefficiency and environmental impact, as our first customer in the marine sector. We are also now gaining an opportunity to test and verify the improvements in energy efficiency offered by the system while a vessel is in operation. Wallenius Marine has been considered a pioneer in marine technology development for many years, says Rolf Hasselstrm, President and CEO of Opcon.
Wallenius will pay for the installation costs and pay for supplied electricity during the test period. The aim is to complete an installation by the autumn of 2011 at the latest either on a new vessel or on an existing one. Large ships currently consume large amounts of fossil fuels in operation, which means that reduced consumption will directly cut emissions of carbon, NOx and sulphur. There are currently around 16,000 registered vessels in the world with output above 10 MW of power. The entire global commercial shipping fleet is considered to account for between four and five per cent of global carbon emissions.
For further information, please contact Niklas Johansson, vice president, Investor Relations, Opcon AB, tel. +46-70-592 54 53 Opcon AB, Box 15085, 104 65 Stockholm, Sweden Tel. +46 8-466 45 00, fax+46 8-716 76 61 e-mail: [email protected] www.Opcon.se "
VPR Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
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