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.”

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About NEoT Green Mobility

NEoT Green Mobility (NGM) is an investment platform funded by top tier investors in particular Alba EOPIF, Mirova Eurofideme 4 and EDF Pulse Ventures. This platform is dedicated to financing the transition to Zero-Emission mobility and to supporting public authorities, transport operators, as well as logistics and industrial companies in their energy transition in Europe. NGM offers turnkey leasing and services solutions including provision of batteries, rolling-stock or charging infrastructures as-a-service to customers across a wide range of sectors: shipping, urban and inter-urban public transport, logistics, railway, and charging solutions. Backed by its investors, NGM has already deployed or committed to deploy c.€250m of assets.

About Northern Offshore Services
Northern Offshore Services (N-O-S) is a global leader in providing crew transfer vessels (CTVs). N-O-S operates about 60 vessels and provides full service and flexible solutions. N-O-S operates in Europe, the U.S., and Japan, with offices in Gothenburg (SE), Copenhagen (DK) and Conwy (UK).
Northern Offshore Services is part of Northern Offshore Group (N-O-G). The group is driven by entrepreneurship and consists of several well-established companies that operate in various parts of the marine industry and are located around the globe. The group has a clear vision, and values rooted in the strong shipping culture and entrepreneurial spirit of Donsö, an island in Gothenburg’s southern archipelago, in Sweden.

About Alba European Operational Projects Fund I (“Alba EOPF I”)
Alba EOPF I (previously 3i EOPF) is a €456m fund managed by Alba Infra Partners. Alba EOPF I is fully invested in operational projects across Europe (with a focus on France, the Benelux, Germany, Italy and Iberia) and across a wide range of sub-sectors (primarily social infrastructure and transportation, but also telecoms and utilities). It aims to provide long-term yield to institutional investors. Alba Infra Partners manages two funds (including Alba EOPF I) invested in around 130 infrastructure projects in continental Europe, including 25 in France, the UK and Ireland, and has assets under management of approximately one billion euros.

About Mirova
Mirova is a global asset management company dedicated to sustainable investment and a subsidiary of Natixis Investment Managers. At the forefront of sustainable finance for more than a decade, Mirova develops innovative investment solutions in all asset classes, aiming to combine long-term value creation with a positive environmental and social impact. Based in Paris, Mirova offers a wide range of equity, rate, diversified, energy transition infrastructure, natural capital and private equity strategies designed for institutional investors, distribution platforms and retail investors in Europe, North America and Asia-Pacific. With more than 20 years of experience in the energy transition infrastructure sector, Mirova has financed more than 1,000 projects in 48 countries, equivalent to a total of more than 7.3 GW of production capacity, in the field of renewable energies, low-carbon storage and mobility. Mirova and its affiliates had €31.1 billion of assets under management, including €3.8 billion of investments in energy transition infrastructure as of June 30, 2024. Mirova is a driven-mission company, labelled B Corp*.

*The reference to a ranking or a label does not prejudge the future performance of the funds or its managers.

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Mirova is an affiliate of Natixis Investment Managers.

[1] MIROVA EUROFIDEME 4 is a French limited partnership (Société de Libre Partenariat), closed to new subscription. Mirova is the management company. The supervisory authority approval is not required for this fund.

[2] EDF Pulse Ventures aims to develop EDF Pulse Holding’s Investment portfolio by Identifying new activities and Innovative solutions.