USA - Maersk Invests in U.S. Start-up to Develop Methanol Supply

To help establish its role as a first move in the adoption of methanol as the fuel for large ships. A.P. Moller – Maersk is also seeking to develop the supply chain and infrastructure needed to operate its new vessels.

Three weeks after announcing an investment to support e-methanol sourcing in Europe, Maersk announced an investment in a California-based startup that is working to build the supply of methanol in the U.S. and Asia.

Maersk said it would be investing in the U.S.-based WasteFuel to develop green bio-methanol. Terms of the investment, which is being made through Maersk Growth, the corporate venture arm of A.P. Moller – Maersk, were not announced. WasteFuel is a start-up focused on turning waste into sustainable aviation fuel, green bio-methanol, and renewable natural gas.

“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, VP and Head of Decarbonisation for A.P. Moller – Maersk. “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

Maersk said its investment will 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. Among the other investors in the company is NetJets, a private jet company owned by Warren Buffet’s Berkshire Hathaway. The jet company has an agreement with WasteFuel for the supply of green aviation fuel.

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