The Norwegian bank Sparebanken Sør has awarded Vaholmen VOC Recovery AS with a prize in recognition of Vaholmen’s development of its pioneering solution for capturing VOC emissions from off-shore terminal operations. The prize amounts to 350 000 kroner (NOK).
The award «Bærekrafttak» (Sustainability Initiative) was presented to Vaholmen VOC Recovery AS and other awardees, in Arendal, Norway on 23rd October 2022. The jury writes that giving this prize to Vaholmen is motivated by Vaholmen’s solution has the potential for saving the atmosphere for enormous emissions from the oil industry. The jury also regards the project as being particularly innovative.
– It is with a feeling of humility and gratitude that Vaholmen VOC Recovery accepts this award. The trust and recognition given by Sparebanken Sør and the jury of «Bærekrafttak» to us and our partners, is a great encouragement in our daily work and product development, says Vaholmen CEO, Arve Andersson.
The stated goal of the Paris Agreement on climate change is to limit global warming to well below 2.0, preferably to 1.5 degrees Celsius, compared to pre-industrial levels. With the initiative «Bærekrafttak», Sparebanken Sør seeks to support this and to realize it’s vision of growth and development through contributing to development in the realm of climate and the environment.
When loading VLCC and other crude oil tankers, volatile organic compounds (VOC) are being emitted into the atmosphere. Vaholmen VOC Recovery – in cooperation with Wärtsilä Gas Solutions, Ulstein Design & Solutions and American Bureau of Shipping – has developed turn-key solutions for capturing these vapours. The emissions saved may amount to several thousand tons of CO2 equivalents for each tanker loading. With these solutions, 60-80 % of the emissions generated from crude oil on board by ships during transport may be avoided, as well as giving the customer the opportunity to realize values that would otherwise be lost.
Sparebanken Sør – Norway’s fifth largest bank – has a long tradition as a responsible social actor and has participated in developing the local communities in its region for generations. The work with sustainability is a natural extension of the part the bank has been playing through its soon to be 200 years of existence.
Merete Lie Seland – Reginal Director, Phone +47 92465279, Mail: email@example.com