The new shareholders include Selfinvest Family Office - a key stakeholder - and previous TORM CEO and current SKULD chairman, Klaus Kjærulff, plus former Sondex owner Åge Søndergaard of SonFlow.
Bawat has submitted parallel applications to attain US Coast Guard type approval and IMO certification, and said that it expected both approvals shortly.
With the aim of strengthening the company, the board and management have also undergone changes. Marcus Hummer, former COO at Kelvion, a manufacturer of heat exchangers, has taken up the post as the company's new managing director, replacing Kim Diedrichsen, who has been managing director since 2013.
Thomas S Knudsen, former CEO of MAN Energy Solutions and chairman of Maritime Denmark, has been appointed to the board of directors, together with Charlotte Hummer Vad, former head of customer communication, Novozymes, and Peter Stokbro, head of technical department at Uni-Tankers.
NORDEN’s chairman Klaus Nyborg will continue to chair Bawat’s board.
Nyborg said; “The company will be well positioned for the future owing to the considerable capital infusion of more than DKK20 mill from existing and new shareholders.
“Together with the new and highly experienced management and board, we are now prepared for considerable growth in the years to come, based our unique and patented highly competitive system for the treatment of ships' ballast water,” he said.