Pacific Green Marine Technologies Inc. (PGMT), the subsidiary of Pacific Green Technologies, on Monday entered into a $42.4 million scrubber manufacturing agreement for 28 of Scorpio Bulkers’ vessels.
The ENVI-Marine systems that are being fitted are of ‘hybrid ready’ design, which allows them to be upgraded to a ‘closed loop’ configuration at a future date.
The agreements provide for 18 vessels in 2019 and 10 vessels in 2020. Pricing is based on the size of each vessel’s exhaust gas emissions in accordance with PGTK’s Pricing Curve concept.
The agreements are currently estimated to have a total value of USD $42.4 million subject to further engineering studies.
In addition to the agreements, PGMT and Scorpio Bulkers have executed a Framework Agreement whereby Scorpio Bulkers can elect for PGMT to design and engineer the System for up to a further 18 vessels in 2020 subject to certain criteria being met.
PGTK’s partner, PowerChina SPEM Company Limited, will work alongside PGMT to ensure the successful execution of the project.
Published: 5 December, 2018
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