Euro Tech Holdings Company Limited (Nasdaq: CLWT) said on Oct. 12, 2026 that its wholly owned subsidiary, Euro Tech Global Pte Ltd, has signed a 50/50 joint venture agreement with Sea Clean AS, a Norwegian provider of ballast water treatment solutions for the maritime industry. The joint venture is named CleanPACT Environmental and Marine Engineering AS. The release does not disclose financial terms of the agreement.
CleanPACT will function as what the release calls a customer experience center for port ballast water treatment, offering hands-on demonstrations, expert servicing, realistic simulations and tailored training. It is built around Euro Tech's PortoBallast system, described in the release as a next-generation mobile hybrid unit designed to treat ballast water from vessels whose existing UV or electrolysis-type treatment systems do not meet discharge compliance requirements. The release describes the venture as combining Euro Tech's technology, expertise and capabilities with Sea Clean's local knowledge, port experience and market reach.
Sea Clean AS is described in the release as a Norwegian provider of ballast water treatment solutions and an authorized agent for an electrolysis-type ballast water treatment system, handling distribution, service and maintenance of such systems. The release states the company has served more than 2,300 vessels and that its technicians provide service from system installation through annual compliance checks. Euro Tech Global Pte Ltd, the Euro Tech subsidiary that is party to the joint venture, is described only as a wholly owned subsidiary of the parent company.
According to the release, Sea Clean is setting up and commissioning the PortoBallast unit, which has recently arrived at Sea Clean's port site in Torvastad, Norway. The release does not state when commissioning will be complete or when the center will begin operating. Euro Tech said the new joint venture will also promote PortoBallast across Scandinavia, which the release describes as a stepping stone to entering the European market, and that the company believes this will give it a new sales platform for global promotion.
The release discloses no financial terms for the joint venture — it gives no investment figures, no revenue-sharing arrangement and no governance details beyond the stated 50/50 ownership split between Euro Tech Global and Sea Clean. It also does not state a date for CleanPACT to begin full operations, nor does it mention any regulatory or corporate approvals required before the arrangement is considered complete. The release is dated Oct. 12, 2026 and carries no closing or effective date for the joint venture agreement itself beyond its having been signed.
The release includes a standard forward-looking-statements disclaimer under the U.S. Private Securities Litigation Reform Act of 1995, saying the company can give no assurance regarding actual outcomes and naming risk factors that include its Hong Kong and China operations, competition, dependence on vendors, product development, market entry, business downturns, personnel availability and the negotiation of agreements.