ZeroNorth A/S Reports $32.8 Million Loss in 2022

by Ship & Bunker News Team
Friday June 30, 2023

Fleet optimisation firm ZeroNorth A/S's latest financial report shows the firm's losses widened to $32.8 million last year.

The 2022 loss of $32.8 million follows an $8.2 million loss in 2021, the company said in its annual report earlier this month. Revenue jumped to $6.8 million from $3.1 million a year earlier.

The firm is in a period of rapid expansion, seeking to establish itself as a leading presence in the maritime decarbonisation space. 

The company acquired the bunker procurement platforms ClearLynx in January 2022and Prosmar Bunkering in November 2022, as well as buying Singapore-based bunker software firm BTS in February 2023.

"Going into 2023, ZeroNorth expects to further expand its global footprint, both through organic incorporation in new countries as well as through further M&A, strengthening its position as a global leader in the green transition," the company said in its annual report.

"Management is certain that ZeroNorth remains financially secure through 2023, and should there be any requirement for further capital related to new investments, the current shareholders will provide the same support as shown throughout 2022."