Savosolar Plc: Meriaura reduced its emissions by more than 11% during 2022

Savosolar Plc
Company Announcement, Investor news                              14 March 2023 at 11.15 a.m. (CET)

Savosolar Plc: Meriaura reduced its emissions by more than 11% during 2022

Savosolar's subsidiary Meriaura managed to reduce its ships' emissions by 11.2 percent during 2022 compared to the previous year. Emissions per ton of transported cargo per nautical mile decreased by 7.8 % for the bulk fleet and 20.6 % for deck cargo ships. At the same time, Meriaura was able to grow and make a very good financial result, which emphasizes the importance of the achievement, as emissions usually increase in times of high market activity.

The most important motive behind the merger of Savosolar and Meriaura last year was to build a company that can accelerate the green transition in both business areas and help its customers achieve their emission reduction goals. In addition to financial goals, the company is now setting strategic goals for effectiveness, i.e. how much the company is able to reduce emissions in its own operations and those of its customers.

Meriaura has been working for years in the development of low-carbon sea transport. Last year's result proves the work has been successful. The most important measures to achieve emission reductions are setting clear goals that are monitored and reported, focusing on operational efficiency and economical drivingand the increasing use of renewable fuels.

Beppe Rosin, CEO of Meriaura: "We are very pleased to say that we managed to exceed the emission reduction goals we set for last year. The digital applications we have developed are a significant help in planning the optimal use of vessel capacity and in verifying the emission reduction. In order to be able to offer even lower-emission sea transportation to our customers in the future, we will invest in new low-emission vessels and continue to increase the use of our own biofuel, VG Marine EcoFuel, on our ships."

Jari Varjotie, CEO of Savosolar: "This emission reduction tells of the motivation behind the merger between Meriaura and Savosolar. The goal of the merged company is, in addition to profitable growth, to support and accelerate the green transition of our customers. In Marine Logistics, it happens by developing even lower-emission transportation and in Renewable Energy by offering and delivering industrial-scale clean energy solutions. United, we are able to advance in both areas stronger and faster than before."

SAVOSOLAR PLC

For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

Savosolar in brief

Savosolar has two business areas: Marine Logistics and Renewable Energy.

Marine Logistics (Meriaura Oy) is a major provider of transport for bulk cargo and demanding project deliveries in Northern Europe, especially in the Baltic Sea and North Sea regions. The company provides its customers with competitive and environmentally sustainable marine transport services, which also reduce carbon emissions from marine transport. Its long-term affreightment agreements, modern fleet and strong market position in renewable energy construction projects enable freight that supports environmentally friendly solutions. As part of Marine Logistics, VG-EcoFuel Oy produces recycled biofuels from bio-oils and recycled oils generated as industrial by-products.

The Renewable Energy (Savosolar Oyj) designs and delivers clean energy production systems as comprehensive deliveries. The systems are built around large-scale solar thermal systems implemented using high-performance solar heat collectors manufactured by the company. Other energy production and storage technologies can also be combined with the systems. The company has taken solar thermal technology to a new level, and its collectors have patented nano-coated direct flow absorbers. With this leading technology, Savosolar enables its customers to produce clean and competitive energy.

Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden under the ticker symbol SAVOS and on Nasdaq First North Growth Market Finland under the ticker symbol SAVOH. www.savosolar.com.

The company’s Certified Adviser is Augment Partners AB, info@augment.se, tel. +46 8-604 22 55.