Polarcus
{{Short description|Geophysical research company}}
{{Infobox company
| name = Polarcus Limited
| logo = Polarcus_Logo.png
| type = Public limited company
| traded_as = {{Ose|PLCS}} (formerly)
| foundation = 2008
| defunct = 2021
| key_people = Mike Mannering (Chairman), Duncan Eley (CEO), Hans-Peter Burlid (CFO)
| area_served = Global
| industry = Oceanographic Research
| products = Geophysical services
| num_employees = 500 people (during its operation)
| homepage = {{URL|www.polarcus.com}}
| footnotes =
}}{{More citations needed|date=April 2025}}{{Notability|date=February 2025}}
Polarcus Limited was a geophysical research company operating a fleet of modern DP2 seismic research vessels worldwide.
Background
The company described itself as having a strong environmental focus that aims to decrease emissions to both sea and air.[http://www.pnronline.com.au/article.aspx?p=1&id=394 Predicting, Monitoring And Mitigating Greenhouse Gases In Seismic Vessels' Engine Exhaust], PESA News. {{Archive url|url=https://web.archive.org/web/20140316140642/http://www.pnronline.com.au/article.aspx?p=1&id=394|date=2014-03-16}} Polarcus vessels were the first fleet in the world to receive the DNV accredited Triple E rating for high energy efficiency and environmental performance ratings.[http://www.dnv.no/presse/pressemeldinger/2013/polarcus_recognises_green_ship_operations_as_a_business_advantage.asp Polarcus recognises green ship operations as a business advantage], DNV. {{Archive url|url=https://web.archive.org/web/20140316152147/http://www.dnv.no/presse/pressemeldinger/2013/polarcus_recognises_green_ship_operations_as_a_business_advantage.asp|date=2014-03-16}}[http://www.offshoreenergytoday.com/polarcus-receives-dnv-level-1-triple-e-rating/ Polarcus Receives DNV Level 1 Triple-E™ Rating], Offshore Energy Today.
Founded in 2008 in Dubai, UAE, Polarcus completed projects across the globe from Greenland to Sakhalin, Russia.{{Cite web |title=Seismic start-up has a green agenda |url=https://www.rivieramm.com/news-content-hub/news-content-hub/seismic-start-up-has-a-green-agenda-52742 |access-date=2025-02-07 |website=Riviera |language=En}} After defaulting on debts, lenders took control of the company in January 2021.{{cite web|url=https://www.oedigital.com/news/488728-seismic-firm-polarcus-set-for-business-wind-down-delisting-from-oslo-exchange|title=Seismic Firm Polarcus Set for Business Wind-down, Delisting from Oslo Exchange|publisher=Offshore Engineer Digital|date=June 25, 2021|accessdate=November 3, 2021}}{{Cite news |title=Lenders take control of Polarcus assets after default, shares plunge |url=https://financialpost.com/pmn/business-pmn/lenders-take-control-of-polarcus-assets-after-default-shares-plunge |archive-url=http://web.archive.org/web/20210221023725/https://financialpost.com/pmn/business-pmn/lenders-take-control-of-polarcus-assets-after-default-shares-plunge |archive-date=2021-02-21 |access-date=2025-02-07 |work=financialpost |language=en-CA}} Shearwater GeoServices bought six seismic acquisition vessels for $127.5 million and streamers and related seismic equipment formerly owned by Polarcus for $50 million.
See also
Shares
Polarcus listed its shares on the Oslo Stock Exchange OTC list in 2008, and in 2009 began trading on the Oslo Stock Exchange OSE list, under the ticker [http://www.oslobors.no/markedsaktivitet/stockOverview?newt__ticker=PLCS PLCS]. The company was delisted in 2021.