The Norwegian NOx Fund relies on our independent quality assurance for the yearly expenditure of up to USD 100 million in support of emission-reducing technologies.
The business sector’s Norwegian NOx Fund was initiated after the introduction of the Norwegian tax on NOx emissions in 2007. The fund is based on an industry/authority agreement, including tax relief and quantitative NOx-reduction commitments. Enterprises may apply for financial support for installation of NOx-reducing measures (going beyond existing regulations), receiving up to 80% coverage of their investment.
Examples of technologies supported include LNG, selective catalyst reduction (SCR) systems, battery-driven/hybrid ships, low-NOx engines, engine replacements, exhaust gas recirculation (EGR) and various fuel-saving technologies. The fund also provides financial support for the infrastructure of LNG bunkering and arrangements for shore power.
DNV GL has been delegated the following tasks:
- Technical and financial evaluation of each funding application and recommendation on support worthiness and payment amount
- Recommendations regarding the prioritisation of measures in order to ensure the most cost-effective use of the fund’s finances
- Verification of the implementation of measures and the resulting emission reduction
- Support in ensuring that the fund model and principles are aligned with the ongoing developments in technology, rules and the market