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July 7, 2021updated 09 Mar 2022 11:05am

Yara Marine deepens green push with Lean Marine acquisition

Lean Marine’s software and hardware technologies have been deployed on more than 200 ships worldwide.

Norway-based Yara Marine Technologies has taken over Lean Marine, a Swedish provider of automated fuel-saving and performance management solutions for ships.

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The financial terms of the transaction, which aligns with Yara Marine’s plans to expand beyond scrubbers, were not divulged.

The Swedish firm will continue to provide its FuelOpt and Fleet Analytics solutions under the portfolio of Yara Marine.

Lean Marine delivers direct, real-time fuel optimisation and data breakdown, which helps enhance operational efficiency and can result in potential fuel consumption and carbon emission savings of about 25%.

On the basis of the commands from the bridge, Lean Marine’s FuelOpt system improves a ship’s propulsion line in real-time.

As a result, the system eliminates overconsumption of fuel and automates the control of vessel speed and fuel usage.

FuelOpt also functions as a tuning system on board vessels that have controllable pitch propellers, supervising the propeller’s pitch and RPM automatically to generate more thrust with minimum power.

Fleet Analytics converts the ship’s data into knowledge for enhancing operational efficiency and decision-making.

According to Yara Marine, both these solutions ensure a ‘short payback time and strong business case’ for clients.

Lean Marine CEO Mikael Laurin said: “Yara Marine has consistently demonstrated its ability and dedication at providing commercial shipping operators with technologies that reduce maritime emissions, and they have the capacity to scale and implement new solutions quickly.

“We strive towards the same goal, a greener maritime industry, and that made us a natural match. We are now ready to move our solutions into the next phase of rapid expansion, in a global market, where the frontrunners will show the way.”

Yara Marine CEO Thomas Koniordos said: “We have spent more than a year analysing dozens of system providers, but no one comes close to what we found at Lean Marine.”

Until now, Lean Marine’s software and hardware technologies have been deployed on more than 200 ships worldwide.

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IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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