Neot Green Mobility reinforces its commitment to Northern Offshore Services by financing 4 new hybrid vessels in the North Sea

In 2023, NEoT Green Mobility (NGM) provided a financing solution to Northern Offshore Services (N-O-S), one of the leading operators in the field of crew transfer vessels (CTVs), for the construction of 4 hybrid CTVs. NGM and N-O-S have agreed on new financing for 4 additional vessels scheduled for delivery in 2025.

 The use of more environmentally friendly vessels is a major challenge for wind farm operators, who are facing increasing pressure to decarbonize their entire value chain. Like the first vessels financed in 2023, these 4 new CTVs will be equipped with an innovative propulsion system, developed by Volvo Penta and offering better energy performance, and will be able to operate in hybrid or fully electric mode in operation and during berthing operations.

Supporting the maritime sector in its transition to less greenhouse gas-emitting ships is one of NGM’s priorities. To do this, NGM offers operators financing solutions adapted to the specific needs of this sector of activity: financing of new vessels, battery/H2 storage bricks on board, modernization of existing vessels, etc. This second financing structured by NGM on behalf of N-O-S will enable the group to continue the deployment of its offer of less emissive and more efficient CTVs and to consolidate its position in this market.

Philippe RINGENBACH, CEO of NEoT Green Mobility, said: “We are delighted to collaborate with N-O-S again to enable the deployment of 4 additional hybrid CTVs. This second cooperation between NGM and N-O-S confirms the relevance of our low-carbon economy financing model. Knowing that the fleet of CTVs operated in Europe is expected to grow from 270 to 500 by 2035, it is undeniable that the decarbonisation of workboats is a real avenue for development for us. » 

David KRISTENSSON, CEO of Northern Offshore Group, added: “Our continued collaboration with NEoT Green Mobility is a testament to our shared vision of driving innovation for a more sustainable future. Adding these 4 new vessels to our fleet is another step forward in our commitment to serving the industry with versatile, high-performance solutions. We are excited to see how these innovative vessels will ensure the efficiency and flexibility of our services.”