Acquisitions ADEC Innovations Acquires Kedge Pty Ltd and Southern Ocean Carbon Company

ADEC Innovations Acquires Kedge Pty Ltd and Southern Ocean Carbon Company

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| Mar 14, 2023

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ADEC Innovations Expands its Blue Economy Solutions into Marine Assurance and Sustainable Aquaculture ADEC Innovations, a recognized global leader in designing and delivering sustainable development solutions that drive organizational value and impact, today announced it has completed its acquisition of Kedge Proprietary Limited (“Kedge”) and Southern Ocean Carbon Company (“SOCC”). Kedge and SOCC are recognized Blue Economy leaders within Australasia and Oceania for vessel, mooring, aquaculture, marine systems procurement and commissioning, environmental protection, design assurance, and regulatory compliance. These acquisitions further expand ADEC Innovations Environmental, Social, and Governance (ESG) expertise into the Blue Economy which focuses on balancing the health of the ocean’s ecosystems with the economic growth associated with ocean resources. Kedge and SOCC will leverage ADEC Innovations’ information management capabilities and global reach to improve ocean stewardship worldwide. Together, the companies will continue to innovate and make an impactful difference to the world’s largest resource. “With oceans holding nearly 97% of the Earth’s water, ensuring economy, society, and environment are mutually prosperous is critical,” said James M. Donovan, Global CEO of ADEC Innovations. “Adding Kedge and SOCC into the ADEC Innovations portfolio, we will be able to offer more expansive, global support to a number of industries within the estimated €3+ billion (AUS$ 4.5 billion) Blue Economy, including international transport, fisheries, and aquaculture – and help preserve the health of this critical natural resource.” Kedge is the recognized leader in the region for marine compliance and vessel certification and has completed over 4,000 surveys the last 7 years. In addition, Kedge is called upon to remediate incidents that occur within Oceania and Australasia including spill containment, clean up, and environmentally sound vessel disposal. SOCC was established to study and commercialize giant kelp and other seaweed production for carbon capture and sequestration, biomass creation and other beneficial uses of this sustainable, underutilized marine resource. “ADEC Innovations commitment to making sustainable impact completely aligns with our companies’ trajectories. Kedge and SOCC’s fundamental tenet has always been the preservation of the health of the planet’s oceans,” said Adam Brancher, Founder and Managing Director of Kedge and SOCC. “Having the support of ADEC Innovations will allow us to realize our long-held goals of expanding our established marine assurance and seaweed aquaculture practices and developing innovative technologies, such as hydrogen propulsion retrofits on vessels, including our recently acquired passenger ferry demonstrator.” As a result of this latest investment, ADEC Innovations expands its global footprint and now has active projects on all seven continents. Kedge and SOCC employees will join the 4,000 strong workforce that ADEC Innovations has across 27 operating sites and 20 countries. ADEC Innovations Group CEO James M. Donovan added, “We welcome Kedge’s clients, employees, and partners to the group. With this acquisition, ADEC Innovations strategically broadens our overall business portfolio to better meet the sustainability needs of companies, public agencies, and coalitions around the world. Collectively, we will offer greater opportunities to advance sustainable business and operational practices around the world by transforming information into knowledge and reshaping risk into positive value and impact.” About Kedge Proprietary Limited Founded approximately 7 years ago, Kedge is a recognized Blue Economy leader within Australasia and Oceania for vessel, mooring, aquaculture, marine systems procurement and commissioning, environmental protection, design assurance, and regulatory compliance. Kedge has a highly talented team of engineers, naval architects, and other specialists who bring many years of experience in senior seagoing, regulatory, and associated roles both domestically and internationally. Kedge actively supports vessel operators to ensure that all types of vessels are safe, reliable, and designed to meet their specific needs. Working on a wide variety of projects around the world, Kedge provides advanced technology, consulting, and education in the maritime field to help vessel owners quickly identify and manage risks and opportunities in this ever-evolving market. As an industry pioneer, Kedge has developed extensive knowledge in vessel decarbonization and is working with a number of clients to actively reduce their carbon footprints. For more information, visit kedge.com.au. About Southern Ocean Carbon Company Formed by the founders of Kedge Proprietary Limited in 2020, the Southern Ocean Carbon Company (SOCC) is at the forefront of the development and production of seaweed aquaculture in Australia. As a commercial partner of the Blue Economy Cooperative Research Council, SOCC scaling its operations and getting significant area under rope growing Giant Kelp and other species to develop a successful seaweed aquaculture business while promoting carbon capture and biodiversity. SOCC is focused on making a real, positive impact beyond Australia in one of the fastest growing aquaculture segments around the world. For more information, visit southernoceancarbon.com.