Innovation Norway supports new chapter

'Strong head-start in a huge market'

"The purpose of Green Growth Loans is to incentivise private capital while providing attractive terms for companies investing in climate-friendly solutions," said Innovation Norway Managing Director Håkon Haugli. "ECOsubsea's results have surpassed all expectations, and this year will be the first full year of operation for the Pink Panther. We are proud this unique solution has been developed by a Norwegian company. ECOsubsea has secured a strong head-start in a huge market and have big ambitions to scale up the business in the coming years. With this load we are actively contributing to that effort."

ECOsubsea Managing Director Tor Mikal Østervold added: "It's a question of keeping the status quo or taking concrete action to minimise marine fouling. The only way to do this is scaling safe, effective and eco-friendly solutions. As market leader we have a clear advantage and strong technology competence. The loan from Innovation Norway provides a springboard for us to scale faster and make an even bigger contribution to preserving the environment. So we are very grateful for their support and collaboration."