For those unfamiliar with Lamor, can you tell us more about your business, what you do, and the markets you address?

Lamor was founded in 1982 by the Larsen family – today we specialize in four main areas:

First, we offer oil and chemical spill preparedness and response services at sea, nearshore, and offshore. This includes providing equipment, training, and rapid deployment capabilities to manage spills effectively. Second, we focus on large-scale soil remediation, cleaning up land areas contaminated by hydrocarbons due to oil drilling or transportation. Our goal is to restore the soil to its original state. Third, we do material recycling, for example handling waste management in ports, dealing with oil-contaminated waste from ships and offshore drilling operations. We separate and recycle materials whenever possible, minimizing environmental impact. Currently, we have also been expanding into chemical recycling of plastics that cannot be mechanically recycled. We convert these plastics into oil in a concept facility we are currently building, which can then be used as raw material in the petrochemical industry.

We operate globally with a strong presence in the Americas, Eurasia, the Middle East, and Africa. Our customers range from governments to large international corporations, and we pride ourselves on offering tailored solutions adapted to each client’s specific needs.

Could you provide more details about your service, the advantages it offers, and how it stands against competing solutions from other players?

Lamor differentiates itself through our extensive experience and global references. We have participated in some of the world’s largest cleanup operations, such as the aftermath of the Deepwater Horizon disaster in the Gulf of Mexico, where we delivered 70% of the technology. Our ability to mobilize resources quickly, coupled with our network of local partners, allows us to act efficiently in critical situations.

Our customers choose us because we offer proven expertise, global reach with local presence, and customized solutions. Unlike many competitors, we can provide a full spectrum of services—from equipment supply and training to long-term partnerships—tailored to each client’s specific requirements. Our advanced technology combined with deep knowledge ensures efficiency and safety in all our operations. We have an extensive global network of partners and place a strong emphasis on building credible partnerships in the regions we operate, which enhances our effectiveness and reliability.

As you are a global company with a presence all over the world, which regions are the ones to keep track of right now? Which do you think, in your opinion, are the most interesting ones?

We see significant potential in several regions. In the Middle East and Africa, particularly the Gulf Cooperation Council countries and Northern Africa, there is a strong focus on environmental protection and remediation, partly due to the increasing geopolitical uncertainties. In the Americas, especially South America, there is a substantial need for soil remediation and oil spill preparedness, and we are already involved in multiple projects there. Eurasia is also critical, with the Baltic Sea region and Southeast Asia facing challenges due to dense maritime traffic and sensitive ecosystems. These regions offer considerable growth opportunities thanks to rising environmental awareness and the necessity to address both acute and legacy pollution issues.

As a capital-intensive business, what do you think are the key risks with managing these types of big projects and why do you think Lamor success in this?

The key risks include high upfront investments, which can impact cash flow and working capital, and the complexity of managing large-scale projects that present logistical and operational challenges. Operating in geopolitically unstable regions can also pose regulatory and security risks.

Lamor succeeds in managing these risks through our extensive experience and strong references, which build trust with clients and financial institutions. We have robust risk management processes focusing on cash flow management and operational control, ensuring that we deliver projects on time and within budget. Our strategy of partnering with credible local entities allows us to navigate regional challenges effectively. Additionally, our global team of experts enables us to deploy resources swiftly and maintain high standards across all operations.

In three years, where do you envision Lamor will be?

We consider ourselves a growth company and aim to be a profitable growth company. This is something we will emphasize even more as we refine our strategy, which we plan to present in the near future. Profitable growth will be our guiding star moving forward. We believe that our approach to the market as a global local player, across the different product lines I mentioned, is based on strong references and our solid reputation as a provider supporting our customers. We will cherish and protect this reputation going forward, striving to become even better. As we have demonstrated, we can take on larger responsibilities and be a partner over several years with our customers, in addition to maintaining a good, stable base business that is our bread and butter. This is very important for us in continuing to build a strong brand for the company.

Could you name three reasons as to why Lamor is a good investment today?

Growing Global Need for Environmental Cleanup: If you look at the market at the moment, there are legacy contaminations all over the world. Due to oil exploration and mining, there’s a lot of legacy cleanups that needs to be tended to. The ESG focus will further require that these legacy areas are being cleaned up. For example, Shell would like to divest their assets in Nigeria, but it’s not possible before the cleanup has been put in place. So, the demand for our services is increasing, and the world are far from reaching a peak in cleanup activities.

Strong References and Global Capability: When you think about Lamor, we are working at sea and on land. We have a global capability to support customers with credible partners. This is a reference business—you cannot fail. We have immense knowledge generated on a daily basis around the world, from the Arctic down to temperate regions. Our extensive experience and successful track record make us a reliable choice in an industry where reputation is crucial.

Comprehensive Solutions and Long-Term Partnerships: In the value chain, we are working as an equipment supplier and solution provider, combining equipment into larger solutions, and also being a long-term partner with the customer over years. This is a very important approach that we can apply. With our credibility and dedicated people who work around the clock, we are well-positioned in a market that is not shrinking but rather increasing. Our ability to offer end-to-end services enhances our competitiveness and growth potential.