Eltronic spins off business unit into separate company
We are happy to announce that as of 1 November 2018, the business unit FuelTech will be spun off into its own separate company.
The new company will be named Eltronic FuelTech A/S.
“Since we established FuelTech in 2014, the business unit has undergone a very positive development and growth. When at the same time considering the global growth potential in the industry, we have assessed that this is the right time to create a separate company,” says Lars Jensen, CEO and founder of Eltronic A/S.
Eltronic FuelTech has a product portfolio consisting of high- and low-pressure solutions targeted towards the maritime industry where natural gases replace heavy fuel in ship main engines.
The FuelTech solutions make it possible for the shipping industry to meet the increasing international requirements for significant reductions in the emissions from combustion engines. By applying the solutions developed by FuelTech, ship owners will be able to reduce the emission of SOx by as much as 92% and also reduce the emission of NOx and CO2.
Eltronic FuelTech A/S will continue as part of Eltronic Group and the company will remain on the same location in Hedensted, Denmark. All current employees will be transferred to the new company which as of 1 November 2018 will employ 33 highly specialized engineers and technicians. Louise Andreasen will continue as CEO and she is looking forward to continuing the journey with her colleagues:
“We have throughout the years developed a solid business with all the functions necessary for running an independent company – from development, production and service to global sales. With the new company we will be even more capable of focusing on our customers and adapting our global services to the market requirements”.
FuelTech will continue to be present at and expand the markets that we are already working in today, and all existing projects and innovation work will continue as planned.
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