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MAERSK INVESTS IN WASTE-TO-METHANOL PROJECT

MAERSK INVESTS IN WASTE-TO-METHANOL PROJECT

Thursday, September 9, 2021 

Three weeks after the announcement of an e-methanol sourcing agreement in Europe, AP MollerMaersk has invested in California-based WasteFuel, a start-up focused on turning waste into sustainable fuel, including green bio-methanol.

The investment is made through Maersk's corporate venture arm, Maersk Growth. The investment will enable WasteFuel to develop biorefineries that utilise the most effective technologies available to produce sustainable fuels from unrecoverable waste that would otherwise degrade, and release methane and other harmful emissions into the atmosphere.

Maersk is confident that green bio-methanol is one of the promising fuels of the future as it can be scaled up and play an important role in decarbonising supply chains within the next 10-15 years.

Morten Bo Christiansen, VP and Head of Decarbonisation, said: "We know that sourcing an adequate amount of green fuel for our methanol fuelled vessels will be very challenging, as it requires a significant production ramp up globally. Collaboration and partnerships are key to scaling the production and distribution of sustainable fuels, and we look forward to doing exactly that with WasteFuel; exploring potential future green solutions not just for our vessels, but also for Maersk aviation and trucking activities."

WasteFuel is developing additional projects in Asia and the Americas including a biorefinery in Manila, Philippines, to produce low-carbon fuels.

"WasteFuel was launched to solve two problems: the waste crisis that affects millions of peoples’ lives globally and the growing demand for low-carbon fuels that can reduce overall emissions. We’re proud to have partnered with Maersk to usher in an era of more environmentally conscious sea transport. Our goal is for WasteFuel to reduce lifecycle greenhouse gas emissions by 90% compared to fossil fuels," said Trevor Neilson, co-founder, Chairman and CEO of WasteFuel.

Under the agreement, Christiansen is joining the Board of WasteFuel.

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