Scorpio Tankers Inc. Announces MOU Licensing FOWE Fuel-Saving Devices for Entire Fleet
Scorpio Tankers Inc. Common Shares (STNG)
Last scorpio tankers inc. common shares earnings: 2/19 06:40 am
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scorpiotankers.com/investors/shareholder-services/stock-price-information
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Source: GlobeNewswire
MONACO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced that the Company has signed a non-binding Memorandum of Understanding to install the Fowe Eco Solutions Ltd. (“FOWE”) fuel emulsion systems across its entire fleet. The terms of the licensing agreement will require no material upfront costs for the Company and is expected to result in an overall reduction of at least 3% in fuel costs and 100,000 tons of carbon emissions annually. Mr. Emanuele Lauro, Chairman and CEO of the Company, commented, “In terms of financial and environmental benefits, the FOWE system stands out for its clear and immediate advantages. Requiring little in the way of initial investment and eliminating the need for installation downtime, the FOWE solution presents an ideal pathway to reducing operating expenses and curbing greenhouse gas emissions.” Mr. Dean Mihalic, CEO of FOWE added, “Recent tests conducted at the Alfa Laval Test and T
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- 4/2/24 - Form 144
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