SOURCE: Stolt-Nielsen Limited

March 03, 2011 11:22 ET

Stolt-Nielsen Limited Acquires Stake in Alternative Energy Start-Up

LONDON--(Marketwire - March 3, 2011) - Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that it has acquired through one of its subsidiaries a non-controlling interest in Seaweed Energy Solutions AS ("SES"), an alternative energy start-up focused on the development of bioethanol and biogas production from the sustainable large-scale cultivation of seaweed.

Founded in 2006, SES holds a patent for the Seaweed Carrier, the first structure to allow the cultivation of seaweed on an industrial scale that is essential for creating the biomass required for the production of biofuels, without consuming scarce resources such as fresh water and arable land.

Financial terms of the transaction were not disclosed.

Commenting on the investment, CEO Niels G. Stolt-Nielsen said "The propulsion of our entire fleet is based on petroleum. The raw material for many of our cargoes is petroleum. I feel it is our duty, as well as being in our interest, to help develop alternative sources of energy and raw materials. Through our experience as shipowners and fish farmers, we know a lot about the sea and wish to put that knowledge to work helping to make seaweed such a source."

About Stolt-Nielsen Limited

Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.

About Seaweed Energy Solutions AS

SES is an alternative energy start-up focusing on large scale cultivation of seaweed to be used primarily for energy purposes. SES has operations in Norway and Portugal. SES's funding includes grants from the Research Council of Norway and Innovation Norway. Please visit www.seaweedenergysolutions.com for more information.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
    other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
     originality of the information contained therein.

Source: Stolt-Nielsen Limited via Thomson Reuters ONE

[HUG#1494399]

Contact Information

  • For additional information please contact:

    Jan Chr. Engelhardtsen
    Chief Financial Officer
    UK +44 (0) 20 7611 8972
    Email Contact

    Jens F. Grüner-Hegge
    VP Corporate Finance
    UK +44 (0) 20 7611 8985
    Email Contact