Hong Kong, October 12th / PRNewswire / -- Euro Tech Holdings Company Limited (Nasdaq ticker: CLWT) announced today that the company has entered the Norwegian market officially through a 50/50 joint venture agreement signed with Sea Clean AS ("Sea Clean") via its wholly-owned subsidiary Euro Tech Global Pte Ltd. The name of the joint venture is CleanPACT Environmental and Marine Engineering AS ("CleanPACT").
CleanPACT will serve as a customer experience center for port ballast water treatment, providing on-site demonstrations, professional services, real simulations, and customized training. The system utilized is the company's next-generation mobile hybrid system, PortoBallast. PortoBallast is the trademark for this system, which is designed to treat ballast water that does not meet emission compliance requirements from ships and that is produced by electrolytic ballast water treatment systems. This joint venture combines the company's technology, expertise, and capabilities with Sea Clean's local knowledge, port experience, and market coverage.
Sea Clean is currently installing and debugging the PortoBallast device, which has recently arrived at the port facility in Torvastad, Sea Clean, Norway.
In addition, this new joint venture will also promote PortoBallast in the Scandinavian region, using it as a springboard to enter the European market. The company believes that this positioning will bring a new sales platform for its global promotion.
About Sea Clean
Sea Clean is a Norwegian company that provides ballast water treatment solutions for the maritime industry. As an authorized agent for electrolytic ballast water treatment systems, the company is responsible for the distribution, service, and maintenance of ballast water treatment systems worldwide. To date, it has served over 2,300 ships.
Its experienced technical team provides comprehensive service solutions, from system installation to annual compliance inspections, to ensure that vessels meet international ballast water management standards.
Website: https :// www.seaclean.no
Forward-looking Statements
This press release contains statements regarding the company's expectations, estimates, current views on situations or events, as well as statements that use words such as "estimated," "expected," "intended," or "anticipated." Such statements are considered forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. There is inherent uncertainty associated with these statements, and the company makes no guarantees regarding actual results. Specific risk factors may include, but are not limited to: the company's offices and operations being located in Hong Kong and China, conducting business in China, competing with products manufactured in China, competing with the company's own suppliers, dependence on suppliers, lack of long-term written agreements with suppliers and customers, developing new products, entering new markets, potential deterioration of the business environment, increased competition, loss of key customers, availability of qualified personnel, negotiating final agreements, new marketing efforts, and whether resources can be obtained in a timely manner. For more information, please refer to the "Risk Factors" discussion in the documents submitted by the company to the U.S. Securities and Exchange Commission, including the 20-F annual report for the fiscal year ending December 31, 2025.
