BP sells Krystallon stake
BP has sold its majority shareholding in scrubber company Krystallon to joint venture partner in Kryst5allon, Kittiwake Developments.
In 2006 BP and Kittiwake formed Krystallon, a joint venture company to develop innovative sea water scrubbing technology which reduces the environmental impact of ships emissions to air by removing sulphur and particulates.
A statement says: “Krystallon has worked with leading customers in the marine industry to successfully demonstrate this technology, achieving environmental awards and increasing its industry profile, along with customer interest in scrubbers, as emissions legislation comes into force. The next step for Krystallon is to build a robust, scalable fabrication and installation capability to manufacture and install sea water scrubbers to both new and existing ships to meet growing customer demand. Given BP's clear direction to focus on its core business of refining, trading, and selling fuels, it is appropriate that Kittiwake should now lead the next phase of Krystallon's evolution.”
Chris Leigh-Jones, Managing Director of Krystallon said: “We are at the next phase of Krystallon’s development, which will see the company create a platform from which to market and distribute scrubber technology on a global basis, This agreement signals the start of that phase and will see us working with partners that have core skills in marine installation and fabrication. On behalf of Krystallon, I would like to thank BP Marine Fuels for their role in our development over the past three years, their knowledge and environmental credentials have been vital in securing the progress we have achieved to date.”
Rita Griffin, CEO, BP Marine Fuels, said: “BP Marine Fuels has provided financial and intellectual support to the development of Krystallon and seawater scrubbing technology over the past three years; helping develop this technology to becoming a viable option for ship-owners as they face new emissions reductions targets. BP Marine is proud to have contributed to the development of Krystallon, and we wish the company well for the future.”
In 2006 BP and Kittiwake formed Krystallon, a joint venture company to develop innovative sea water scrubbing technology which reduces the environmental impact of ships emissions to air by removing sulphur and particulates.
A statement says: “Krystallon has worked with leading customers in the marine industry to successfully demonstrate this technology, achieving environmental awards and increasing its industry profile, along with customer interest in scrubbers, as emissions legislation comes into force. The next step for Krystallon is to build a robust, scalable fabrication and installation capability to manufacture and install sea water scrubbers to both new and existing ships to meet growing customer demand. Given BP's clear direction to focus on its core business of refining, trading, and selling fuels, it is appropriate that Kittiwake should now lead the next phase of Krystallon's evolution.”
Chris Leigh-Jones, Managing Director of Krystallon said: “We are at the next phase of Krystallon’s development, which will see the company create a platform from which to market and distribute scrubber technology on a global basis, This agreement signals the start of that phase and will see us working with partners that have core skills in marine installation and fabrication. On behalf of Krystallon, I would like to thank BP Marine Fuels for their role in our development over the past three years, their knowledge and environmental credentials have been vital in securing the progress we have achieved to date.”
Rita Griffin, CEO, BP Marine Fuels, said: “BP Marine Fuels has provided financial and intellectual support to the development of Krystallon and seawater scrubbing technology over the past three years; helping develop this technology to becoming a viable option for ship-owners as they face new emissions reductions targets. BP Marine is proud to have contributed to the development of Krystallon, and we wish the company well for the future.”