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Flakk Group Case A. Hexagon Purus: Fuelling the future

By Ioannis Ioannou, Nick Mickshik


In May 2018 the Norwegian Government introduced new requirements for emissions-free entry into the Geirangerfjord and Nærøyfjord fjords, a UNESCO World Heritage site, making them the world’s first zero-emission zones at sea. For Knut Flakk, CEO and owner of Norway’s Flakk Group, it was a watershed moment. Norway and sustainability had a complicated relationship. On the one hand, the country was a pioneer in the use of renewable energy. Almost 90% of the power network ran entirely on clean hydroelectricity and Norwegian policymakers had begun to support electric vehicles as early as 1990.

As a result, Norway boasted the highest per capita share of EVs in the world. On the other hand, Norway’s huge oil and gas reserves had made the country extremely wealthy. And while many people were now focused on reducing their carbon footprint and being energy-efficient, Knut had a bigger picture in mind, saying “I’m more interested in being climate-positive, with renewable sources. Hydrogen is a zero-emission energy carrier that can be used for boats, trains and planes.”

Learning objectives

  1. Understand how to integrate sustainability into the core business strategy
  2. Develop skills in navigating complex market dynamics in emerging and evolving industries
  3. Explore innovative financing options and learn how to balance immediate investment needs with long-term financial health
  4. Learn about supply-chain management complexities in the context of sustainable technology development
  5. Evaluate trade-offs between material availability, cost and sustainability, and develop innovative approaches to material sourcing in sustainable business practices


Publication Date: February 2024
LBS Case Code: CS-24-006
Subjects: , , , , , , , ,
Geography: ,
Pages: 39
Format: pdf