A subsidiary of diversified Norwegian shipping syndicate Stolt-Nielsen has acquired a non-controlling interest in Seaweed Energy Solutions.

SES founder Pal Bakken outside his father's seaweed meal factory at age 13.
Oslo-listed Stolt says the alternative energy start-up is focused on the development of bioethanol and biogas production from the sustainable large-scale cultivation of seaweed.

Chief executive Niels Stolt-Nielsen told investors: "The propulsion of our entire fleet is based on petroleum.