Invest in a clean future

New Savosolar as an investment

After the merger of Savosolar and Meriaura, as of 1st December 2022, the group has two business units:

  • Marine logistics and
  • Renewable Energy.

Marine Logistics consists of the business operations of Meriaura and VG-EcoFuel, while Renewable Energy consists of the business operations of Savosolar.

The Marine Logistics business unit is targeting long-term profitable growth by serving its clients competitive and environmentally sustainable sea transport services while contributing to the decarbonization of the marine logistics industry. Meriaura’s long shipping contracts, modern fleet, and strong market position in renewable energy construction projects are aimed to provide stable and strong cash flows to support the group’s growth in the Renewable Energy unit. The targeted market share growth of the Marine Logistics business unit is achieved through increasing the fleet capacity by chartering ships and investing in new-built vessels for Meriaura’s own fleet. In addition to the organic growth, the business unit continues to evaluate further strategic collaborations and potential M&A targets.

The Renewable Energy business unit has high growth potential. The objective is to grow substantially and be the leading worldwide supplier of solar heating systems for district heating and industrial process heating. Savosolar’s heating systems are based on highly efficient solar heat collectors, at the heart of which are Savosolar’s proprietary optically coated direct flow absorbers. According to the information available to the company’s executive management, Savosolar’s collectors are the most efficient large solar heat collectors in the world. Additionally, Savosolar aims to increase capabilities to integrate other clean renewable energy sources into the system deliveries. This will enable the business unit to develop flexible business models, for example taking the role of an energy supplier, in addition to being an equipment manufacturer and system supplier. VG-EcoFuel brings know-how of biofuels to the group. The Renewable Energy segment utilises the know-how for other purposes in the heating sector to benefit the group’s customers.

The overall goal of the group is to create significant value for shareholders with a long-term aim to take the corporation to the main list of the stock exchange. The group is well positioned to meet the growing demand for solutions based on renewable energy and support customers in further accelerating the green transition.