Pacific Green executes USD$17.9m agreement to install its ENVI-Marine™ System on six vessels owned by Ridgebury Holdings LLC
SAN JOSE, CA / ACCESSWIRE / November 16th, 2018 / Pacific Green Technologies Inc. (PGT) (OTCQB: PGTK), owner of the ENVI-Marine™ Exhaust Gas Scrubbing System, is pleased to announce that its wholly owned subsidiary, Pacific Green Marine Technologies Inc. (PGMT), has executed an agreement for US$17.9m to manufacture and install ENVI-Marine™ Systems on six vessels owned by Ridgebury Holdings LLC.
PGT’s JV partner, PowerChina SPEM Company Limited, will manufacture the systems at one of its factories in Wuxi, China with CSSC Chengxi Shipyard, Shanghai, China installing between June and September 2019 in advance of the IMO legislations for stricter sulphur emissions standards that come into force on 1 January 2020.
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