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The reorganization of the Company is progressing as planned. Since our last
update a new board has been elected and Hunter Carbon Carriers AS has been
established. The world is currently emitting around 37 billion tons of CO2
annually. To reach net zero by 2050 drastic measures need to be taken, and we
believe CCTS (Carbon Capture, Transportation and Storage) will play a key role.
If only a small fraction of the targeted 6 billion tons of captured CO2 in 2040
is to be transported on ships, the number of ships needed will be huge. The
number of such vessels today: Zero. Ships are superior to other forms of
transportation; they are flexible, less costly and take less time to build. The
Company is using its experience from the Gas and Tanker industry to develop a
ship design for liquified CO2 carriers and is currently in the final stages of
the development phase.
In addition, the Company is working on a couple of other interesting projects
that we hope to be able to share more details about shortly.
Key events in 1Q 2023
Entered into a joint cooperation agreement with DNV for the development of a low
pressure mid-stream shipping solution for Carbon Capture and Storage. The
parties have agreed to work together to develop a 40-70K cbm liquified CO2
carrier with 20-30K cbm feeder vessels with the aim to meet defined targets
towards a sustainable CCS shipping solution. Alternative fuels such as ammonia,
methanol, fuel cells and CO2 abatement technologies will also be evaluated as
part of this project.
Extraordinary general meeting (“EGM”) held on 19 January 2023. All resolutions
were passed in accordance with the proposals set out in the notice, including
the approval of dividend distributions of a combined NOK 2.81 per
share. Subsequently distributed NOK 0.51 per share as a return of paid in
capital, and NOK 1.80 per share as a regular extraordinary dividend
Extraordinary general meeting held on 16 February 2023, where the proposed NOK
0.04 per share dividend was rejected by the majority of the Company’s voting
shareholders
Extraordinary general meeting held on 21 March 2023. All resolutions were passed
in accordance with the proposals set out in the notice, including the election
of new board members. Following the EGM, the board has consisted of Morten
Eivindssøn Astrup (chairman), Kristin Hellebust (member) and Lars M. Brynildsrud
(member)
Contact:
Erik A.S. Frydendal, CEO, ef@huntergroup.no, Ph.: +47 957 72 947
Lars M. Brynildsrud, CFO, lb@huntergroup.no, Ph.: +47 932 60 882
This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act.
Kilde