Press Release

Vertis Environmental Finance, a leading EU carbon trading company, and Azolla Pte Ltd, the decarbonisation vertical of Synergy Marine Group, have unveiled an exclusive partnership to empower shipping companies in the EU ETS process.

Through this strategic engagement, Vertis and Azolla will combine their capabilities in carbon trading and Emission Analytics (CASPER—Azolla’s EU ETS exposure tool) to provide comprehensive services for monitoring & validating emissions, procuring EUAs, establishing compliance strategies, and preparing shipping companies to align with the EU Emissions Trading System (ETS) and beyond.

(Snapshot from Brussels: Partnership agreement signing at Vertis Environmental Finance's head office, featuring Vertis' Head of Shipping and Azolla's Decarbonization Manager.)

“While the industry is mandated by the EU ETS, getting compliant is not straightforward owing to factors such as the complications in creating a holding account, computation and validation of emission figures, the minimum procurement quantity of EUAs, the fluctuating EUA market, and the high commissions associated with the procurement of EUAs.

Through this partnership, we want to address these challenges head-on, offering clients a comprehensive solution that simplifies the process and maintains transparency throughout.” – Said the official Statement.

“We aim to disrupt the ETS market by leveraging Vertis's market-leading carbon trading expertise and Azolla’s emission analytics system (CASPER). The process has been made transparent and convenient, especially for smaller companies to evaluate ETS exposure for free with CASPER’s freemium offering and procure any quantities of EUAs, breaking free from the bulk purchasing constraint,” says Kiran Shet, Business Head of Azolla.

In practice, this collaboration allows shipping companies and charterers to have the autonomy to make informed decisions and tailor services to their specific needs. Whether choosing comprehensive end-to-end EU ETS services or procuring small amounts of EUAs based on their unique requirements, this flexibility empowers shipping companies and charters to take control of their EU ETS compliance journey.

“The procurement strategy of EUAs is often overlooked. Having a tailor-made strategy based on chartering activities (voyage-based and time-based), hedging for Future Exposure can be decisive for companies in reducing their risk and financial exposure. That’s where our in-depth market insights and built-for-you come into the picture,” says Aditya Srivastava, Decarbanization Manager of the ETS initiative.

Frederic Bouthiller, Head of Shipping at Vertis Environmental Finance, concluded: "I truly believe that this partnership presents a remarkable opportunity for our two organisations, each specialised in distinct market segments, to join forces and forge a long-term alliance dedicated to supporting the shipping industry on its green transition journey.”

About Azolla

Azolla Pte.Ltd is the decarbonisation vertical of Synergy Marine Group, a leading ship management company with over 650+ vessels and 25 offices in 14 countries, providing expertly tailored ship management. Azolla Pte.Ltd provides various digital decarbonisation solutions, carbon abatement consulting and retrofits project management (Successfully executed 50+ EET installations, 100+ Scrubber installations, 17+ propeller installations, and 50+ BWTS installations)

www.azolla.sg

www.synergymarinegroup.com

About Vertis

About Vertis Environmental Finance:

Founded in 1998, Vertis was one of the pioneers in the carbon markets, helping companies to finance investments in emissions reductions. Today, Vertis is a MiFID II regulated financial institution that helps its business partners to understand and operate in the European Emission Trading System and to meet their compliance obligations in a cost-efficient way. Vertis has offices in Brussels, Madrid, Budapest and Warsaw and since 2021 is part of the STX Group.

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On an additional note, read about our partnership with MARIN by clicking here.