Norwegian sustainability innovations reach port

‘Singapore is a modern, maritime-oriented society with a high level of innovation. The many similarities between Norway and Singapore make it an exciting market for Norwegian companies to do business in,’ says Arne-Kjetil Lian, head of our Singapore office.

With maritime industries playing a central role in both Norway and Singapore for generations, it is no surprise that shipping first brought Norwegians to the Asian country more than 100 years ago.

'As one of the world's largest and busiest ports, the maritime sector is Singapore's most important industry. As many as 80 per cent of Norwegian companies in Singapore operate in the maritime sector,' says Lian.

After heading our Vietnam office for several years, Lian took over as head of our Singapore office in August 2023. The team has seven members, including a dedicated Norwegian science and research envoy. We work closely with the Norwegian Embassy, the Norwegian Business Association Singapore (NBAS), and research communities at NTNU, OsloMet, UiT The Arctic University of Norway and SINTEF in Norway.

Bringing green maritime technologies and solutions, circular economy practices and renewable energy into Singapore's business sector is our top priority.

Singapore has a strong focus on sustainability, particularly in the maritime sector, and we have recently launched the HPO Green Maritime Singapore programme.

– The Green Maritime initiative supports the goal of achieving net-zero emissions by 2050. 'HPO' stands for High Potential Opportunity and is a programme designed to help Norwegian companies increase their exports to Singapore and Southeast Asia, says Lian.

The concept follows two tracks, he explains.

‘Firstly, it is about introducing more environmentally friendly fuels, with a particular focus on ammonia, where Norway is at the forefront with companies such as Yara. The second track is about decarbonising ports and ships, with a particular focus on electric vessels, an area in which Norway is a world leader,’ says Lian.

Azane Fuel Solutions is a Norwegian start-up developing innovative technology for handling ammonia as a fuel in the maritime sector. Azane has developed terminals for refuelling ships in ports, also known as 'bunkering'. Singapore is currently the world's largest bunkering port, and Norwegian technology is at the forefront of efforts to decarbonise the sector using solutions such as ammonia.

‘The big question now is timing – understanding when the time is right for our technology in Singapore. This is where Innovation Norway plays its most important role for us,’ says Håkon Skjerstad, CEO of Azane Fuel Solutions.

Right now, we are exploring the market to identify potential partners for the short or long term.

'In this context, Innovation Norway is invaluable to us, as not many people in Singapore are aware of a small Norwegian start-up like Azane,' says Skjerstad.

Our Senior Adviser Daniel Seow at the Singapore office has helped Azane get started, including at Singapore Maritime Week, where the company introduced itself to the industry.

'Having a key contact like Daniel Seow help us arrange meetings with potential partners is extremely valuable to us,' Skjerstad emphasises.

Another Norwegian startup making its mark in Singapore is Lift Ocean. Ports around the world face significant emissions from service vessels transporting personnel and equipment. Lift Ocean has developed hydrofoil technology that substantially reduces energy consumption, making electric propulsion more attractive for high-speed vessels. Its fully electric, high-speed vessel, Hydroglyder, 'flies' effortlessly above the water.

‘We are delighted to have received support from Innovation Norway. We are using the funding exclusively to develop hydrofoil technology for use in Singapore, and it has been essential in enabling us to launch the project. It shows us that they believe in our project. We want to build a company with broad international appeal that also helps create jobs here in Norway,’ says Petter Mørland Pettersen, CEO of Lift Ocean.

Hydroglyder delivers estimated energy savings of up to 80 per cent. We have co-funded the technology, which was developed in partnership with Malaysia's Yinson Technologies.

The maritime sector is not the only area where Norwegian companies can find opportunities in Singapore. Eye-Share is one of the companies that has seized these opportunities with our support. Eye-Share has found a smart way to automate the procure-to-pay process using AI technology and intelligent digital solutions. And its growth has been rapid.

‘We hired our first employee in 2022, and soon there will be ten of us in our Singapore office. Choosing the right strategy was the key to our growth in Singapore and Southeast Asian markets,’ says Kenneth Sætre of Eye-Share.

Choosing the right strategy enabled Eye-Share to expand into Singapore and strengthen its presence across Asia and South-East Asia. We played a key role in helping the company develop this strategy.

Singapore has the largest presence of Norwegian companies in Southeast Asia, with more than 120 member companies in the Norwegian Business Association Singapore (NBAS). It is a 'mature market', where major Norwegian companies such as DNV have operated for more than 130 years. This means new opportunities are now emerging for Lian's office – good news for Norwegian companies looking to expand in the region.

'My main task is to find new ways to make our office relevant to Norwegian businesses in Singapore, and above all to strengthen Singapore's role as a gateway for Norwegian companies seeking to enter markets in Southeast Asia. Almost every company operating in Southeast Asia has its regional headquarters in Singapore. This makes Singapore a hub for the entire region,' says Lian.