French carbon emissions verification company Verifavia has sold a majority stake to Normec, a Dutch testing, inspection and certification organisation.
The strategic transaction is expected to reinforce Normec’s sustainability offering and marks a key milestone in the company’s development with its entry into the French market.
Julien Dufour , President of Verifavia Group – which also provides preparation and maintenance services for Inventory of Hazardous Materials (IHM) on board vessels – revealed that his company had received several offers from global organisations during the acquisition process. However, the board chose Normec because it shared the same entrepreneurial spirit, values and culture.
“We and Normec … can respond quickly to clients’ requests – which is vital for maritime and aviation companies that need to meet industry regulations on carbon emissions or industry specific legislation such as IHM,” Dufour said.
Dufour added that Verifavia will continue to operate autonomously following the transaction.
As explained, Normec’s purchase of Verifavia gives it a controlling stake in a company that has achieved several milestones since launching in 2010. In shipping, Verifavia was one of the first organisations to offer EU Monitoring Reporting and Verification services, as well as being the original independent verifier to provide the IMO Data Collection System verification for several flag states.
Additionally, Verifavia launched the world’s first real-time Carbon Intensity Indicator (CII) Dashboard in November 2021, allowing owners, operators and charterers of ships over 5,000GT to accurately measure a vessel’s current and predictive CII rating.
The CII dashboard provides guidance for ship efficiency, generating data on the amount of carbon produced and, through its calculator, insight into whether emission levels for a single voyage or reporting period meet industry regulation.
“Verifavia stays agile to new regulatory requirements, such as the Energy Efficiency Existing Ship Index and the EU Emissions Trading System (ETS) for shipping,” Dufour added.
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Verifavia also provides IHM service, which supports ships that are subject to the EU Ship Recycling Regulation and the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships. The French company works with shipowners, managers and class societies to develop and implement an IHM maintenance procedure. The IHM must be updated by a collection of suppliers’ declarations if any non-identical or new machinery or equipment is added to, removed or replaced, or the hull coating is renewed.
For Verifavia, the merger gives it access to Normec’s markets, clients and services – including materials testing sites, building services and laboratories that complement the vendor’s IHM services – in The Netherlands, Belgium, and Germany.
“Verifavia’s team has extensive experience and expertise. We’re looking forward to working together to participate in the global effort to control CO2 emissions and the carbon footprint,” Joep Bruins , CEO of Normec Group, concluded.