CLIMATE INVESTOR TWO JOINS DAMEN TO FIGHT INVASIVE SPECIES IN BALLAST WATER
Climate Investor Two has approved an investment that could amount to 24.5 million euros to support the lease of Damen’s portable ballast water treatment solution InvaSave to customers in Africa, Asia, and Latin America.
Climate Investor Two (CI2) is a financing facility mandated to invest in water, sanitation and ocean infrastructure projects in emerging economies. It enjoys cornerstone support from the EU and the Dutch Fund for Climate and Development (DFCD). The consortium that manages the 160 million DFCD also includes World Wide Fund for Nature Netherlands (WWF-NL), Netherlands Development Organization (SNV) and Entrepreneurial Development Bank, FMO.
Climate Fund Managers, the manager of CI2, is pleased to announce the signing of this Development Funding Agreement of 2.8 million euros to finance the start of this project with Damen Financial Services, the newly founded department within Damen Shipyards Group.
Viruses and bacteria
The project concerns the treatment of ballast water, which is taken on in great quantities by marine vessels to offset unloaded cargo or waste, before being discharged at the ships next port of call. This discharge typically contains a multitude of viruses, bacteria, and other biological materials, including plants and animals collectively referred to as invasive species. The inadvertent release of non-native and nuisance species in ballast water has already triggered extensive ecological damage, with a knock-on effect on the economy and human health.
The International Convention for the Control and Management of Ships’ Ballast Water and Sediments (BWM) came into force in 2017, with the goal of ending the spread of harmful aquatic organisms from one region to another. As of July 2020, 87 out of 217 countries have signed the higher standards and procedures for the management of ships’ ballast water, representing more than 80 percent of the worlds merchant shipping tonnage.
240 new jobs
The Damen containerized ballast water treatment system InvaSave offers a port-based solution to ships ill-equipped to treat their ballast water or wishing to supplement their existing treatment capabilities to meet higher standards. In addition, the system is currently the only one to be certified by the International Maritime Organization, which is responsible for the implementation of the BWM convention. During the commercial phase, it is estimated that the systems will treat up to 36,000 m3 of ballast water per day.
Tarun Brahma, CFMs Head of Investments, stated, “The Damen project represents an exciting opportunity to get ahead of the growing demand for ballast water treatment, whilst also contributing toward climate adaptation and preserving the future of marine ecosystems. In addition, we estimate this project will create 240 new jobs locally. ”
Jan Willem van Helden, managing director of Damen Financial Services: “Thanks to the lease construction made possible through our partnership with Climate Investor Two, this eco-friendly solution will be within reach of many more companies and governments in Africa, Asia, and Latin America . ”
Dutch version
DAMEN ATTRACTS CLIMATE INVESTOR 2 CLIMATE FUND INVESTMENT TO COMBAT INVASIVE SPECIES IN BALLAST WATER
Climate Fund Climate Investor Two is committed to an investment of up to EUR 24.5 million to enable the leasing of Damen’s mobile ballast water treatment solution ‘InvaSave’ to customers in Africa, Asia and Latin America.
Climate Investor Two (CI2) is an investment fund focused on water, sanitation and ocean protection projects in emerging economies. It is supported by the EU and the Dutch Fund for Climate and Development (DFCD); which in turn is managed by the World Wildlife Fund Netherlands, the Netherlands Development Organization (SNV) and the Dutch Financing Society for Developing Countries (FMO).
Climate Fund Managers, managers of CI2 and the DFCD, today signed a Development Funding Agreement of 2.8 million euros with Damen Financial Services to finance the start of this project.
Viruses and bacteria
The project focuses on ballast water, which is taken in by seagoing vessels in large quantities to compensate for discharged cargo and is often discharged in a subsequent port. It also contains viruses, bacteria and other biological material, including plants and animals called ‘invasive species’ that are harmful to native ecology and ultimately the economy and human health.
The International Convention for the Control and Management of Ships’ Ballast Water and Sediments (BWM) entered into force in 2017 to end the spread of harmful aquatic organisms from one region to another. As of July 2020, 87 out of 217 countries have signed stricter standards and procedures for ship ballast water management, representing more than 80 percent of the world’s tonnage of merchant ships.
240 new jobs
InvaSave, developed by Damen Shipyards Group, offers a mobile, containerized solution for ballast water treatment. This is a godsend for ships that are poorly equipped to treat their ballast water themselves or want to expand their capacity to meet higher standards. It is currently the only system certified by the International Maritime Organization (IMO), which is responsible for implementing the BWM Convention. It is estimated that the InvaSaves included in this collaboration can treat up to 36,000 m3 of ballast water every day.
Tarun Brahma, CFM’s Head of Investments: “The Damen project offers a great opportunity to stay ahead of the growing demand for ballast water treatment, while also contributing to climate adaptation and preserving the future of marine ecosystems. In addition, we estimate that this project will create 240 new jobs locally. “
Jan Willem van Helden, managing director of Damen Financial Services: “Thanks to the lease constructions made possible by the support from Climate Investor Two, this environmentally friendly solution is within reach of many more companies and governments in Africa, Asia and Latin America.”
