Euronav acquires CMB.TECH for $1.15B

Sustainable energy

Belgium – Belgian tanker shipping company Euronav NV, along with its controlling shareholder CMB NV, is set to acquire 100% of shares in cleantech maritime group CMB.TECH for a substantial $1.15 billion in cash.

The acquisition, which aligns with Euronav’s renewed business strategy, aims to position the company as a leading force in sustainable shipping, tapping into the evolving landscape of low-carbon marine technologies. The acquisition is expected to create a synergistic approach, enabling Euronav to play a pivotal role at every stage of the energy transition.

Energy transition

CMB.TECH, the target of this billion-dollar deal, operates at the forefront of clean technology in the maritime sector. The company builds, owns, operates, and designs large marine and industrial applications running on dual-fuel diesel-hydrogen, diesel-ammonia engines, and monofuel hydrogen engines. With a diverse portfolio spanning the Marine, Technology & Development, H2 Infra, and Industry divisions, CMB.TECH is a key player in the entire hydrogen value chain.

In particular, CMB.TECH’s marine division boasts a fleet of 106 low-carbon vessels, with 46 more under construction. These vessels cover a wide spectrum, including offshore wind support vessels, dry bulk vessels, container vessels, chemical tankers, tugboats, and ferries – all powered by advanced dual-fuel and monofuel hydrogen engines.

Technology

The technology developed by CMB.TECH allows for the conversion of existing diesel engines into dual-fuel and monofuel engines, catering to various applications, from smaller-scale high-speed options to medium-speed and slow-speed engines for marine and heavy-duty purposes. The company’s Industry division focuses on hydrogen-powered heavy-duty industrial applications, contributing to the broader spectrum of green solutions in the energy transition.

With a strong focus on decarbonization, Euronav plans to propose a corporate name change to CMB.TECH, retaining “Euronav” as the brand name for its tanker division.

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Wim Raaijen
I am a creative publisher, editor in chief, writer, vlogger and moderator with a journalistic and philosophic based view. Trying to re-invent the concept of publishing, based on platforms and partners, instead of separated media and advertisements. I am interested in industrial subjects like transition, sustainability, safety, energy efficiency, innovation and responsibility.