Marintec, Shanghai, China - December 6, 2023

Bureau Veritas (" BV ") issued Approval in Principle (AIP) to Wison Offshore &Marine (" WOM") for its Floating Green Methanol Plant (FGMP) solutions at Marintec, Shanghai, China on December 6, 2023. This recognition signifies the technical feasibility of WOM's solutions and prepares for future commercial and industrial applications.

Green methanol as a carbon-neutral cornerstone energy substitute for fuel oil, is easy to transport and store, and. It can be directly used as a low-carbon fuel for vehicles and ships. At the same time, it is also one of the carriers for large-scale hydrogen storage, with a hydrogen storage density of 13%wt.

The floating green methanol plant（FGMP）developed by WOM is to use renewable energy and the carbon dioxide (CO2) captured to produce green methanol. The grid electricity from renewable energy (such as from windpower, solar energy, hydraulic power and etc.) is utilized to electrolyze water to produce green hydrogen, which further reacts with carbon dioxide captured from near shore refinery & petrochemical industrial tail gas to produce green methanol. No carbon emissions are produced during normal production. If the captured carbon dioxide comes from the flue gas of the power plant, the plant will produce e-methanol. Compared with the onshore methanol plant, the FGMP has high system integration and small footprint, which is easy to deploy, highly flexible and far away from communities and to realize safety and environmental protection. The production process of methanol realizes the resource utilization of carbon dioxide. This solutions can help high-emission enterprises to achieve low-carbon development.

Mr. Zhou Nan, General Manager of WOM’s Product Technology Center, stated, “Future energy utilization will pivot towards renewable energy and nuclear power. WOM, as a leading clean energy technology and solution provider, is committed to providing efficient integrated EPCIC solutions for the energy industry. These include floating LNG facilities, onshore standard modular LNG plants, floating wind turbine, floating natural gas to methanol, floating green ammonia and other clean energy solutions. The successful development of the floating green methanol plant marks another innovative addition to WOM’s clean energy solutions. WOM will intensify research and development efforts, propel industrialization of floating green methanol plant, contribute to the construction of a global clean energy system, and foster sustainable development."

Mr. Wei Yungang, Vice President of Bureau Veritas and General Manager of Offshore of North Asia Zone said: “As the preferred classification society for the global offshore and energy industries, based on continuous investment and research in the field of clean energy, Bureau Veritas has gained great achievements. Bureau Veritas hopes to use its extensive industry experience and advanced technical knowledge to further support Wison's floating green methanol solution. Bureau Veritas looks forward to further cooperation and exchanges with Wison in technical services and classification in the future."

About Wison Offshore & Marine

Wison Offshore & Marine, a leading provider of clean energy technology service and solutions, is committed to providing the energy industry with highly integrated EPCIC solutions, including floating LNG facilities, modularized LNG plant, floating gas-to-power facilities, floating wind power and other clean energy solutions. Based on a track-record of successful project delivery, the experienced Wison team applies its expertise in technical innovation and two world-class shipyards to provide EPC services that meet the highest international quality and safety standards.

About Bureau Veritas

Bureau Veritas is a world leader in Testing, Inspection and Certification. Our mission is at the heart of key challenges: quality, health and safety, environmental protection and social responsibility. Through our wide range of expertise, impartiality and independence, we foster confidence between companies, public authorities and clients.