Solvang has won Norwegian government funding for its plans to install a carbon capture and storage system on an ethylene carrier.

Chief executive Edvin Endresen said the Enova programme has awarded the shipowner NOK 80m ($8m).

He told TradeWinds that the funding is important recognition from the technical community for carbon capture on ships.

“It’s also extremely important to actually get this up and running because, let’s face it, it’s not going to be a profitable business from day one,” he said.