Norwegian ship recycling company Grieg Green has acquired a majority stake in ReFlow, a Danish lifecycle analysis provider, which has developed a digital platform to document the environmental performance of products and companies from a life cycle perspective.
Reflow’s focus is on the maritime sector, where Grieg Green – and the wider Grieg Maritime Group – have experience and a broad, global network.
Pia Meling, MD Grieg Green said: “We sought to offer data-driven and valuable services that keep our customers compliant with regulations, enable their ESG strategy, and make them more competitive. The best way to achieve this is by partnering with a data-driven software company that shares our purpose and values. We are happy to have found such a partner in ReFlow.”
The ReFlow platform empowers all businesses in the maritime value chain to document products’ carbon footprint and make greener and data-driven decisions, from raw material and equipment procurement and design via fuel choices for vessels, operations, upgrades, and retrofits to end-of-life strategies.
Meling will become the new Chair of the Board, with Grieg Maritime Group’s Vidar Lundberg also taking a seat on the Board. Founder and board member Rasmus Elsborg-Jensen stays on as CEO, as does the rest of the team.
According to Grieg Green, the focus on Life Cycle Assessment (LCA) of assets’ emissions and the production, distribution and consumption of new low-carbon fuels is increasing. Companies face regulatory pressure like the EU’s Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directive to report Scope 3 emissions and ensure transparency on human rights.
ReFlow’s Lifecycle assessments for vessels at the design, build, and operational stages, combined with Grieg Green’s recycling and site auditing capabilities and practical maritime experience, is expected to create a maritime leader in Lifecycle Data and Advisory Services.
Rasmus Elsborg-Jensen, Founder and CEO ReFlow, said: “In our journey to reshape the maritime industry’s approach to sustainability, the partnership with Grieg Green marks a significant milestone. This collaboration harnesses our scientific rigour and Grieg Green’s practical expertise, creating a synergy beyond traditional maritime lifecycle analysis boundaries. Together, we are not just offering services; we are pioneering a movement towards data transparency and environmental accountability in the maritime sector.”.
Grieg Green and ReFlow will develop new digital services together and jointly provide the information and tools ship owners need for sustainable decision-making related to design, decarbonisation, optimisation and end-of-life planning of vessels.
Melling said: “The investment in ReFlow will create considerable business, competence and customer synergies while strengthening our purpose of creating maritime solutions for a better future.”
