Kittiwake acquires BP's stake in Krystallon

10 Oct 2008

Kittiwake and BP announced yesterday that agreement has been reached and completed for Kittiwake Developments Ltd to purchase BP's majority shareholding in Krystallon Ltd effective immediately.

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. 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.

Chris Leigh-Jones, Managing Director of Krystallon Ltd, commented: "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."

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."

Krystallon has been developing seawater scrubbing systems as a way of removing polluting emissions, mainly sulphur oxide and particulate matter, from ships' exhaust gases. Backers of abatement technology say scrubbing systems are a more efficient way for ships to cut emissions than switching to low-sulphur bunker fuel. Krystallon believes the market for seawater scrubbing technology could grow to $7 billion within the next seven years.

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