---

Nanol Technologies, a producer of a patented lube oil additive, has today announced that a 2 percent reduction in fuel consumption has been proven on M/V Seagard, an operational ro-ro cargo vessel, with use of its technology in the main engine.

According to Nanol, statistical analysis and verification by leading maritime data analysis, software and services provider, NAPA, demonstrated that use of the additive in the ship main engine delivered savings during the testing period. The test was overseen by Lloyd's Register.

In a project commissioned by the charterer and operator of the ship (European shipping company Transfennica and owner-operator Bore), ClassNK-NAPA GREEN collected data over a four-month period during which the vessel operated along the same route and with the same engine settings. Two-months of data collected during the control period was compared to a two-month period with the recommended levels of Nanol's lubricant additive present in the system. Advanced algorithms were used to take into account fuel calorific value, operating conditions and typical engine load range. The analysis is said to have shown a statistically significant reduction in fuel consumption between the two periods, averaging a 2.01% reduction in fuel use when Nanol was present in active quantities.

The verification of the results of Nanol's technology has led Transfennica to continue further testing of its use on the M/V Seagard and consider expanding it to other vessels in its fleet.

Nanol says the "ground-breaking results" have also helped it secure the opportunity to meet with 100 venture capitalists to support its future growth and development. Nanol was selected from over 1,200 applicants as one of only 50 businesses to be invited to Start-Up Fest's Investor Tour in Amsterdam.

Johan von Knorring, Founder and CEO, Nanol Technologies commented: "Based on previous test results by more than ten shipping companies and more than 130,000 hours of operational use, Nanol has long been convinced that our patented lubricant additive delivers immediate economic benefits in terms of fuel-efficiency as well as the long-term gain of prolonging key engine component lifetimes. With the support of Transfennica, Bore and NAPA we now have independently verified proof that this is the case for first time. While Nanol brings significant savings to our customers, we are very proud that we can help to save the environment by reducing emissions."

Rogier Heijnsbroek, Operations Manager, Transfennica Ltd., remarked: "Transfennica is committed to meeting high environmental standards, reducing emissions and improving the energy efficiency of our fleet. With this in mind we always give consideration to operational tools and technologies that can help us meet these goals. However, we require investment certainty to enable us to make these decisions. Analysis gives us the tools for this decision making, and it is our intention to continue testing Nanol's technology based on verifiable facts."

Jouni Salo, Product Manager, Shipping Solutions, NAPA, said: "In the face of challenging business conditions and environmental pressures, NAPA is increasingly called upon to support owners, operators and charterers in making effective decisions about energy efficiency technologies; and by technology companies themselves seeking verified data to help make an impact on the market. Nanol's case is an excellent example of how powerful this proof can be, not only for sales but also for wider business development. They have a developed a high-value solution that has demonstrated its effectiveness and we wish them well for the future."