Chief executive Tom Ehret said Stolt will begin to operate under the new moniker derived from combining the Latin word, acer, meaning sharp or keen, with energy on 1 February.

The new name will become legal on 1 March following an extraordinary general meeting on 24 February.

Ehret said his company is no longer able to use the Stolt brand because of former Norwegian parent company's Stolt-Nielsen's sale of its 41.7%