Meriaura Group Plc was formed after the merger of Savosolar Plc and Meriaura Ltd on 1st December 2022. The name of the group was changed from Savosolar Plc to Meriaura Group Plc on 1st June 2023. The group has two business units:
Marine Logistics consists of the business operations of Meriaura and VG-EcoFuel, while Renewable Energy consists of the business operations of Meriaura Energy.
The Marine Logistics business unit is targeting long-term profitable growth by serving its clients competitive and environmentally sustainable sea transport services while contributing to the decarbonization of the marine logistics industry. Meriaura’s long shipping contracts, modern fleet, and strong market position in renewable energy construction projects are aimed to provide stable and strong cash flows to support the group’s growth in the Renewable Energy unit. The targeted market share growth of the Marine Logistics business unit is achieved through increasing the fleet capacity by chartering ships and investing in new-built vessels for Meriaura’s own fleet. In addition to the organic growth, the business unit continues to evaluate further strategic collaborations and potential M&A targets.
The Renewable Energy business unit has high growth potential. The objective is to grow substantially and be the leading worldwide supplier of solar heating systems for district heating and industrial process heating. Meriaura Energy´s heating systems are based on highly efficient solar heat collectors, at the heart of which are company’s proprietary optically coated direct flow absorbers. According to the information available to the company’s executive management, Meriaura Energy’s collectors are the most efficient large solar heat collectors in the world. Additionally, the company aims to increase capabilities to integrate other clean renewable energy sources into the system deliveries. This will enable the business unit to develop flexible business models, for example taking the role of an energy supplier, in addition to being an equipment manufacturer and system supplier. VG-EcoFuel brings know-how of biofuels to the group. The Renewable Energy business unit utilises the know-how for other purposes in the heating sector to benefit the group’s customers.
The overall goal of the group is to create significant value for shareholders with a long-term aim to take the corporation to the main list of the stock exchange. The group is well positioned to meet the growing demand for solutions based on renewable energy and support customers in further accelerating the green transition.