ECOnnect 2024 - wrapped up

January

Aligning for Growth: We kicked off the year by aligning our strategic goals and setting clear objectives for 2024. Building on a significant strategy exercise conducted at the end of 2023, we implemented key initiatives to future-proof ECOnnect. This process allowed us to focus on the most critical aspects of the business, ensuring we are well-positioned for the opportunities and challenges ahead.

February

Partnership in "Project Green" (APPL): ECOnnect became a key partner in "Project Green," a forward-thinking initiative led by Alternative Petroleum and Power Limited, focused on establishing a leading supply of clean E-fuels, including e-methanol and green ammonia, in Africa. As part of this partnership, ECOnnect successfully completed the Technical Feasibility Study, ensuring that the infrastructure and processes aligned with sustainable energy goals. CEO Morten A. Christophersen emphasized ECOnnect’s commitment to supporting sustainable energy solutions and fostering socio-economic growth in the region.

March

Participation in the Export Conference (Eksfin): In March, the Export Conference in Norway took place, organized by Eksfin and Innovation Norway. This event, recognized as the most significant for Norway's export-driven business sector, brought together industry leaders and experts. ECOnnect's CEO, Morten A. Christophersen, participated in a panel discussion on "Export Strategies for Future-oriented Companies," sharing valuable insights on navigating the future landscape of international trade. Additionally, ECOnnect engaged with ASEAN country ambassadors to explore potential business relations and development in Southeast Asia.

April

Certifications with TES and Showcasing Innovations at Hannover Messe: In April, ECOnnect Energy played an important role in advancing TES's progress by delivering and certifying the IQuay F-Class system, a key solution for connecting offshore gas stations to onshore terminals. This included facilitating the certification of critical components such as the Pipeline End Manifold (PLEM), flexible risers, and balcony systems. Additionally, we successfully conducted the Site Acceptance Test (SAT) for the IQuay balcony system at Navantia, marking a significant milestone in the deployment of our jettyless technology. These achievements highlight the IQuay F-Class's capacity to deliver efficient, low-impact, and sustainable energy infrastructure while supporting TES's innovative energy solutions.  Also, ECOnnect showcased its innovations at Hannover Messe 2024, a globally recognized event for cutting-edge technologies. As exhibitors at the Norway Pavilion, the team connected with industry leaders and explored collaborative opportunities in the energy sector. Additionally, several of our employees delivered presentations, sharing insights and expertise on our latest projects and innovations in sustainable energy solutions.  Our CEO, Morten A. Christophersen, and CCO, Magnus Eikens, also visited our ongoing projects in Europe, highlighting our commitment to enhancing energy infrastructure and sustainability.

May

Engagement at the World Hydrogen Summit: ECOnnect participated in the World Hydrogen Summit & Exhibition in Rotterdam, one of the largest and most senior global hydrogen events. Our team, including Bjarne Eia, Kaja Knowles Kaas, and Kristoffer E. Evju, represented ECOnnect and engaged with prominent government officials, industry leaders, and delegates to explore the latest advancements and opportunities in the hydrogen sector. The event provided a platform for our employees to share insights and foster collaborations in this transformative industry.

June

Key Milestones in Germany and Welcoming Summer Interns: In July, we were thrilled to announce the successful securing and initiation of a contract with FSRU Wilhelmshaven GmbH, a joint venture between TES and ENGIE, for the installation of the IQuay solution for liquefied natural gas import to Germany. State-owned DET Deutsche Energy Terminal GmbH is the general client for all works. This significant accomplishment reaffirms our commitment to innovative technology for a more sustainable tomorrow.  Additionally, we were excited to welcome a talented and energetic group of summer interns to our team that season. We had the opportunity to connect with Hanna Snefjell Løvås, Oda Bruun-Olsen, Brage Hall, and Gabriel Krohn Gjessing, who shared their career interests and experiences with us. Their fresh perspectives and enthusiasm enriched our projects and contributed to our innovative spirit.

July

First LNG Production in Mexico: In July, we celebrated the successful initiation of first LNG production at the Altamira Fast LNG 1 facility in Mexico, a project enabled by our innovative jettyless IQuay technology. This facility, with a capacity of 1.4 MTPA, enhances global energy security and flexibility while significantly reducing environmental impact and project costs by eliminating the need for extensive shore-based infrastructure. The Altamira project marks a transformative moment in the LNG industry, showcasing our commitment to efficiency, cost-effectiveness, and sustainability in gas transfer and production.

August

Strengthening the Management Team: In August, ECOnnect enhanced our leadership team by welcoming Hanne Thu Clausen as Chief People Officer and Kjetil Sjølie Strand as Chief Operating Officer. Hanne's expertise in organizational development and Kjetil's extensive experience in the shipping industry will be key as we continue to grow. Additionally, Stian Sagmo Magnusson was appointed as Chief Technology Officer, further solidifying our commitment to innovation.

September

Installation Progress at Wilhelmshaven and Insights from Gastech: In September, ECOnnect continued our collaboration with FSRU Wilhelmshaven GmbH on the installation of the IQuay solution for LNG import to Germany. This project underscores our commitment to innovative energy solutions and enhancing energy security in Europe.  Additionally, we participated in the Gastech Exhibition & Conference, where we showcased our pioneering IQuay technology. Our CCO, Magnus Eikens, presented the IQuay F-Class solution, while Kaja Knowles Kaas discussed marine-based ammonia export solutions. Danielle Murphy Cannella moderated a session on CO2 shipping, further highlighting our dedication to advancing clean energy infrastructure.

October‍

Milestone in Germany, Approval of the IQuay by an Energy Major, Attending NTNU and NORWEP: This October, ECOnnect has made remarkable strides in the installation of the jettyless IQuay solution for liquefied natural gas (LNG) imports at Germany’s Wilhelmshaven terminal. This innovative technology is set to enhance energy security by facilitating LNG imports without the need for traditional jetty infrastructure. Once operational, the terminal is expected to supply approximately 8.5% of Germany's gas needs, reinforcing our commitment to sustainable energy solutions and contributing to the country's decarbonization efforts.  ECOnnect also reached a significant milestone with the formal approval of the IQuay C-Class by an Energy Major in October, marking a key achievement. This milestone reflects the dedication and collaboration of both technical and commercial teams at ECOnnect. The approval process required extensive effort and expertise, demonstrating the company’s commitment to innovation and excellence. A proud moment for everyone involved!  In addition to our advancements in infrastructure, we had the opportunity to engage with Marine students at Norges teknisk-naturvitenskapelige universitet (NTNU). During our presentation, we shared insights into our ongoing projects and initiatives aimed at enabling affordable, clean, and secure energy. This event was particularly meaningful as it allowed us to reconnect with our roots, given that ECOnnect's journey began at NTNU over a decade ago. We are excited to inspire the next generation of energy professionals.  Furthermore, our CEO, Morten A. Christophersen, participated in a seminar organized by Norwegian Energy Partners (NORWEP), titled "Norway as a Partner to the Energy Transition." This seminar fostered discussions on the role of gas, hydrogen, and carbon capture, utilization, and storage (CCUS) in the international market. Morten shared insights on ECOnnect's innovative solutions and our vision for contributing to the global energy transition, highlighting the importance of collaboration in achieving sustainable energy goals.

November

LNG Terminal Study, Nominations and Engaging at the LNG Summit: In November, ECOnnect Energy marked a month of significant accomplishments and industry engagement. We were proud to announce our nomination for the Norwegian Research Council’s Innovation Award, which recognizes our commitment to innovative solutions in tackling complex energy challenges. Additionally, our founders achieved a remarkable milestone by winning the prestigious EY Entrepreneur of the Year award in Norway’s Eastern region. This accolade celebrates their vision, dedication, and the transformative impact they have made in the sustainable energy sector, further solidifying ECOnnect's position as a leader in innovative energy solutions.   ECOnnect achieved a key milestone in November by completing a study contract for a full LNG import terminal for a major client. The client expressed interest due to the increasing shortage of FSRUs in the market and the need for a fast-track solution. Over just three weeks, the study team, comprising experts from different disciplines, conducted an extensive analysis, demonstrating the feasibility of delivering the IQuay Regas Terminal under challenging offshore weather conditions.  Earlier in the month, our VP Terminal Sales, Bjørn Thronæs, attended the Norway-Philippines LNG Summit in Manila, where he delivered a compelling presentation titled “Redefining Marine Energy Infrastructure.” His insights on how our solutions enable fast-track energy projects without disrupting the seabed resonated with key stakeholders, highlighting our commitment to sustainable LNG infrastructure development.

December

Deloitte Recognition and Engagement at the World LNG Summit and DNV Network meeting: In December, ECOnnect concluded the year on a high note with significant achievements and global engagement. We were thrilled to be named one of Deloitte’s Technology Fast 50 companies for 2024, recognizing our remarkable revenue growth and innovative use of technology in the energy sector. This accolade underscores the hard work and dedication of our team as we strive to lead the way in sustainable energy solutions.  Earlier in the month, our team participated in the World LNG Summit, where we engaged with industry leaders and stakeholders to discuss the latest advancements in liquefied natural gas infrastructure. Our presence at this prestigious event allowed us to showcase our innovative jetty-free transfer solutions and highlight our commitment to developing sustainable energy projects that minimize environmental impact.  Further contributing to these discussions, Kristoffer E. Evju represented ECOnnect at the LNG, Hydrogen, and CCUS: Paving the Way for a Greener Future seminar. The event offered valuable insights into emerging opportunities within cleaner energy solutions, including LNG, hydrogen, and carbon capture technologies, reinforcing our mission to drive innovation in the energy transition.