Stolt-Nielsen Limited Acquires Stake in Alternative Energy Start-Up
LONDON, March 3, 2011 - Stolt-Nielsen Limited (Oslo B?rs: SNI) announced today that it has acquired through one of its subsidiaries a non-controlling interest in Seaweed Energy Solutions AS ("SES"), an alternative energy start-up focused on the development of bioethanol and biogas production from the sustainable large-scale cultivation of seaweed.
Founded in 2006, SES holds a patent for the Seaweed Carrier, the first structure to allow the cultivation of seaweed on an industrial scale that is essential for creating the biomass required for the production of biofuels, without consuming scarce resources such as fresh water and arable land.
Financial terms of the transaction were not disclosed.
Commenting on the investment, CEO Niels G. Stolt-Nielsen said "The propulsion of our entire fleet is based on petroleum. The raw material for many of our cargoes is petroleum. I feel it is our duty, as well as being in our interest, to help develop alternative sources of energy and raw materials. Through our experience as shipowners and fish farmers, we know a lot about the sea and wish to put that knowledge to work helping to make seaweed such a source."
For additional information please contact:
Jan Chr. Engelhardtsen
Chief Financial Officer
UK +44 (0) 20 7611 8972
Jens F. Gr?ner-Hegge
VP Corporate Finance
UK +44 (0) 20 7611 8985
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.
About Seaweed Energy Solutions AS
SES is an alternative energy start-up focusing on large scale cultivation of seaweed to be used primarily for energy purposes. SES has operations in Norway and Portugal. SES's funding includes grants from the Research Council of Norway and Innovation Norway. Please visit www.seaweedenergysolutions.com for more information.