/INS. The world leading company in cruise ship construction, Fincantieri, has selected Climeon’s revolutionary heat power system Climeon Ocean for its energy efficient solutions. The Italian Group has purchased six Climeon Ocean™ 450M systems, which will be installed in its upcoming new cruise ships. Total capacity, on all ships is up to 2,7 MW. Fincantieri is the first shipyard contracted to install Climeon Ocean on new cruise ships.

“At Fincantieri we continuously strive to improve our designs ensuring we maximize the value delivered to our customers. Working with Climeon is a way for us to deliver even cleaner and more energy efficient solutions”, says Fabrizio Cafagna, Head of Basic Design at Fincantieri’s Merchant Ship Business Unit.

Climeon Ocean™ is a heat power solution that generates electricity using waste heat from the ship’s engines delivering reduced fuel consumption as well as reduced emissions. The configuration is optimizing energy efficiency and usage of heat onboard the ships.

“We are pleased that Fincantieri, one of the world’s largest shipbuilding groups, has selected Climeon for these cruise ships. This large scale deployment further highlights the strong business case for customers using our groundbreaking technology” says Thomas Öström, CEO of Climeon, announcing the contract.

“For Climeon this order is a major step into the important Cruise Ship business”, says Johan Larson, Head of Marine Sales at Climeon, “Energy and environmental savings are an important factor for the future of the Cruise Ship business, we therefore see a lot of customer interests in our solutions.”

Climeon Ocean™ is based on a groundbreaking and award winning new technology that converts hot water into 100% clean electricity. With its substantial energy and cost savings the solution has gained traction both for marine as well as land based applications. In 2015 Frost and Sullivan gave Climeon the “Technology Innovation Award” for best marine waste heat recovery solution.

Deliveries of the Climeon Ocean™ systems will start in 2017.

About Fincantieri

Fincantieri is one of the world’s largest shipbuilding groups and number one by diversification and innovation. It is leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry’s sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega-yachts, ship repairs and conversions, systems and components production and after-sales services. Headquartered in Trieste (Italy), the Group has built more than 7,000 vessels in over 230 years of maritime history. With almost 20,000 employees, of whom approximately 7,700 in Italy, 21 shipyards in 4 continents, today Fincantieri is the leading Western shipbuilder. It has among its clients the major cruise operators, the Italian and the U.S. Navy, in addition to several foreign navies, and it is partner of some of the main European defense companies within supranational programs.

About Climeon

Today, 50% of the world’s energy is wasted as heat. Climeon has developed a technology that recycles and transforms waste heat into heat power creating 100% clean electricity and clean profit. The Climeon Ocean™ solution is powered by Climeon’s innovative C3 Technology which makes it possible to produce clean electricity at a cost lower than any other source.

A Climeon Ocean™ 450M can save up to 900 tons of fuel and 2 700 tons of CO2 emissions every year. This is the same as planting 90 000 trees and letting them grow for 30 years. Climeon has won Frost & Sullivan’s Best Practice Award for Climeon’s “revolutionary” solution for the marine market.

Climeon’s vision is to make the world better via brilliant innovations.

Climeon’s mission is to make customers more successful by challenging established truths.

The groundbreaking Climeon Ocean™ solution converts hot water into electricity with attractive payback times. www.climeon.com

For contact with CEO Thomas Öström or other press inquiries, please contact Jessika Falkenby jessika.falkenby@climeon.com