BW Ventures, Investinor to Purchase OceanSaver

11 January 2011 (Last Updated January 11th, 2011 18:30)

BW Ventures and Investinor have signed a deal to acquire ballast water management system provider OceanSaver. The sale will be finalised following approval by the Norwegian competition authorities and the completion of due diligence issues. The owners are expected to commit Nkr

BW Ventures and Investinor have signed a deal to acquire ballast water management system provider OceanSaver.

The sale will be finalised following approval by the Norwegian competition authorities and the completion of due diligence issues.

The owners are expected to commit Nkr200m ($34m) or more within the next five years to further develop OceanSaver and meet the increasing ballast needs of shipowners.

BW Ventures is investing in environmental maritime technology, while Investinor is a government-funded venture firm and Innovation Norway subsidiary, which is owned by the Norwegian Ministry.