1259
Views

Clean Marine Signs Financing Agreement for MARPOL Reception Facility

alt

By The Maritime Executive 10-30-2019 04:30:46

Clean Marine Group, a Bahamas based company, has signed the final financing agreements with the Inter-American Development Bank to facilitate the construction of a state-of-the-art MARPOL Port Reception Facility in Freeport, Grand Bahama.

Grand Bahama is already home to multiple maritime and tanker storage facilities including The Grand Bahama Shipyard, Freeport Harbour Company, Grand Bahama Port Authority, Hutchinson Container Terminal, Equinor and Buckeye Storage Terminals  along with expanding cruise port facilities and other large maritime service providers.

Attending the signing ceremony were representatives from the Government of the Bahamas, The Inter-American Development Bank, management from Clean Marine Group, as well as local press & media.

Niels Jensen, Director of Maritime Operations for Clean Marine Group, addressed the attendees after introductory comments from Mikia Carter, Private Sector Consultant of the IDB as well as welcoming remarks Daniela Carrera Marquis, Country Representative of the IDB.

Mr. Jensen said:  “Today is an exciting day for Clean Marine Group, the Bahamas, and for the preservation of our marine environment. For the Bahamas and the rest of the world, the oceans serve as a life blood for endless eco-systems, fisheries, transportation, trade, tourism and as the main source of sustainability and income for many families. It is with this in mind that Clean Marine Group has been developing the first MARPOL facility of its kind in the Caribbean, here in the Bahamas”.

Mr. Jensen continued: “Let me start out by saying thank you and what an honor it is to be working with an esteemed financial institution such as the Inter-American Development Bank; who throughout the years have funded countless remarkable projects throughout the Americas & the Caribbean. We thank you for your consideration in the IDB’s Blue Tech Challenge and for awarding Clean Marine Group’s proposal to build a MARPOL Port Reception Facility in Freeport, Bahamas”.

Speaking on behalf of the government, The Honorable Senator Thompson (Minister of State for Grand Bahama) stated: “The company uses patented technology to process liquid waste from marine vessels so these vessels can comply with MARPOL and thus reducing marine pollution in the Bahamas”.

Mr. Jensen further added: “Now with the kind assistance of the IDB, our existing Bahamian and overseas investors, Clean Marine Group is now prepared to invest over $12 million dollars in developing a MARPOL reception facility to exceed the highest standards of anywhere else in the World. Through the use of our Hydrocarbon Recovery Plant, which will take advantage of Proprietary-State of the Art Cavitational Reactor technology, we aim to process contaminated water and waste oils in order to create reprocessed water and reusable fuel oil which we hope will be of significant benefit to the Bahamian economy.”

“For the past year we have been testing, trialing, and operating a smaller scaled down version of the plant which we will now build to full scale. This technology allows us to harness the once destructive power of Cavitation into a scalable Reactor Valve, that uses a small amount of mechanical energy to create a Cavitational field of electrons, capable of breaking down oil and water emulsions and processing contaminated water. Furthermore, this system is able to achieve these results without the use of harsh chemicals and using only a fraction of power compared to other proven technologies.

Through the development of this MARPOL facility Clean Marine Group will create a new industry & economy for the Bahamas which will in turn create jobs, income and supplement other existing Bahamian industries and entities, helping the Bahamas to protect the Oceans surrounding it and the rest of the wider-Caribbean.

We at Clean Marine Group are excited to build this facility and to provide our services while expanding our operations throughout 2020 and beyond.”

Clean Marine Group is currently operating a temporary facility while they begin the construction of the larger processing plant near basin 3 of Freeport Harbor. Negotiations have already been completed securing the land and site clearing works have already commenced.

The products and services herein described in this press release are not endorsed by The Maritime Executive.