Nikkiso Clean Energy & Industrial Gases Group and GTT Announce Partnership to Advance LNG-Fueled

TEMECULA, Calif., Sept. 05, 2024 (GLOBE NEWSWIRE) - Nikkiso Clean Energy & Industrial Gases Group, part of Nikkiso Co. Ltd.'s Industrial Business segment, and GTT announced today they have entered into a partnership to support the LNG-fueled cargo shipping market. The partnership between Nikkiso CE&IG and GTT brings together cutting-edge engineering and technology for LNG membrane containment and process systems and best-in-class hardware, global manufacturing and technical integration competencies.

GTT's patented Recycool™ technology ensures boil-off gas (BOG) is recovered and managed safely to avoid unwanted emissions and improve fuel efficiency. Integrated with Nikkiso's high-pressure fuel gas pump skids, the partnership provides ship owners with enhanced performance by maintaining reliability durability and efficiency to give customers a competitive edge in the market.

“Our partnership with GTT and complementary expertise advances the growth of both companies in the LNG-fuelled shipping market,” said Nikkiso Clean Energy & Industrial Gases CEO Adrian Ridge. “This strength is evidenced by the first large order for 10 container ships, and we expect more awards in the future.”

Jean-Baptiste Choimet, Chief Executive Officer of GTT, stated: "I'd like to thank the Nikkiso team for their support and collaboration. With GTT's expertise in reducing boil-off rates through our membrane technology, the Recycool™ system now provides LNG-fueled vessels with effective solutions for managing boil-off and lowering their carbon footprint. The adoption of Recycool™ by leading Chinese and Korean shipyards reflects the industry's trust in this solution.”

The value of this partnership has already been recognized by large ship owners with a recent award from a leading shipping operator and numerous projects under negotiation for a variety of ship types.

About Nikkiso Clean Energy & Industrial Gases Group

The Nikkiso Clean Energy & Industrial Gases Group is a leading provider of cryogenic equipment, technologies and applications for clean energy and industrial gas market segments. The Group employs more than 1,700 people in 22 countries and is headed by Cryogenic Industries, Inc. in Southern California, U.S., which is a wholly owned subsidiary of Nikkiso Co., Ltd. (TSE: 6376).

Media contact
pr@nikkisoceig.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8254d660-5938-486d-af42-c71dbf70962f