Danish shipping company A.P. Moller-Maersk invested in a California-based start-up WasteFuel to develop green bio-methanol production in the Americas and Asia, the company announced on Wednesday.
Three weeks after the announcement of an e-methanol sourcing agreement in Europe, Maersk invested in the start-up company that will focus on turning waste into sustainable aviation fuel, green bio-methanol, and renewable natural gas.
The company said the investment would enable WasteFuel to develop biorefineries that utilize 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 decarbonizing supply chains within the next 10-15 years,' the shipping company said.
It added that Maersk would evaluate the sustainability of the fuel as well as the emission reductions, using lifecycle analysis, including all greenhouse gases for each feedstock and project.
'We know that sourcing an adequate amount of green fuel for our methanol fueled vessels will be very challenging, as it requires a significant production ramp up globally,' said Morten Bo Christiansen, head of decarbonization at Maersk.
By Murat Temizer