In This Article:
HONG KONG, April 15, 2024 /PRNewswire/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) reported that the Company has recently formed a new synergistic "White Label" BWTS business partnership in Greece.
The Company's majority-owned subsidiary, Yixing PACT Environmental Technology Co., Ltd., ("PACT") has signed an exclusive sales distribution and OEM partnership agreement with ERMA FIRST ESK Engineering Solutions S.A. ("ERMA FIRST").
This partnership has created a synergy effect for both companies as PACT is a UV-based BWTS technology company and complements ERMA FIRST's electrolysis technology. Sales distribution will be focused on 20 countries in Europe, and the Company believes this will allow it to achieve quicker penetration in the European market over the coming months.
About BWTS
BWTS are an imminent requirement by the International Maritime Organization ("IMO") to prevent the biological imbalance caused by the estimated 12 billion tons of ballast water transported across the seas every year by ocean-going vessels when their ballast water tanks are emptied or refilled. In 2012, the Ballast Water Discharge Standard became a law in the US, initially applying to any vessel constructed in December 2013 or later when entering US waters, and to existing vessels shortly after. The IMO's Ballast Water Management Convention entered into force for new-built vessels on September 8, 2017, after ratification by 52 states, representing 35.1441% of global merchant shipping tonnage. In July 2017, the IMO decided that the phase-in period for ballast water system retrofits would begin on 8 September 2019.
PACT obtained type approval from China Classification Society for its 200, 300, 500, 750, 1200 and 1250 cubic meters per hour BWTS in 2016.
The IMO convention stipulates that type approval for revised G8 requirements must be obtained for all BWTS installed on or after October 28, 2020. PACT's systems are fully compliant with these requirements.
Its ballast water port solution, HarborBallast, is a system installed in port to offer ballast water treatment services for ocean-going ships without their own BWTS and for those with damaged BWTS.
About ERMA FIRST
ERMA FIRST - From saving the oceans to safeguarding the planet
Founded in 2009 and headquartered in Greece, ERMA FIRST is a leading manufacturer and provider of future-proof sustainable maritime solutions. The company's robust systems and solutions ensure worldwide compliance, provide operational simplicity and reduce operational expenditure while minimising the impact of ship operations on the environment.