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Yara sells marine technology division

Caption: Mohamed Njdao, CEO of Okapi Supply Trading Advisory

The Norwegian ammonia and fertilizer group Yara is divesting its marine technology division. Yara Marine Technologies has been acquired by Geneva-based Okapi Supply Trading Advisory.

Okapi intends to use the acquisition to expand its portfolio of maritime solutions. “With a shared commitment to advancing sustainable solutions for the maritime industry, this new relationship sets the stage for the green solutions provider to accelerate the reach and impact of its industry-leading decarbonization technologies, backed by the resources and momentum of Okapi,” it said in a statement. [ds_preview]

Okapi Supply Trading Advisory is a provider of oil and gas products and services in Africa. The company stores and distributes oil and gas products required by consumers, industry and the maritime sector across the African continent.

In recent years, YMT has built a reputation for environmentally friendly marine technologies and has a product portfolio that is used in a variety of vessel types. In addition to scrubbers, products include the FuelOpt propulsion optimization system, the Fleet Analytics performance management and reporting system, the cloud-based, AI-powered RoutePilot AI ship operations support system and shore power systems for ships. Until recently, Yara Marine Technologies had also been involved in the development of wind propulsion systems by BAR Technologies.

“Divestment of Yara Marine Technologies a natural step”

Magnus Ankarstrand, EVP Yara Corporate Development, commented on the acquisition: “We are pleased to have found a new owner who has a strong interest in further developing the company. Yara Marine Technologies has been a valuable part of Yara for ten years. However, as Yara’s strategy is to focus its investments on its core business of sustainable food solutions and clean ammonia, the divestment of Yara Marine Technologies was a natural step.”

Mohamed J. Ndao, CEO of Okapi Supply Trading Advisory and Managing Director and Founder of Okapi Energy Group, said: “I am delighted to welcome Yara Marine Technologies to the Okapi family. Their broad portfolio of innovative solutions demonstrates a variety of approaches and stackable alternatives that can serve as immediate options for addressing our industry’s emissions challenges. This closely aligns with our commitment to provide our customers with easier ways to green their operations. This merger is an exciting new chapter and I look forward to working together to bring about positive change for the marine environment and the maritime industry.”

Thomas Koniordos of Yara Marine Technologies said: “This acquisition is the next step and we are excited about the opportunities we have with Mohamed and the team at Okapi. Together, we will continue to drive our industry’s transition to a zero-carbon economy by further developing and deploying our innovative decarbonization technologies to reduce the environmental impact of maritime operations without compromising on the operational quality of our global fleet.”

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