AP Moller – Maersk invests through its corporate venture arm, Maersk Growth, in the start-up sustainability specialist WasteFuel aiming to produce green bio-methanol in the United States (US) and Asia.
As the role of Maersk Growth is to invest in and partner with startups “to digitise, democratise, and decarbonise logistics,” it is expected to enable the California-based WasteFuel to develop biorefineries that utilise the most effective technologies which produce sustainable fuels from unrecoverable waste that would otherwise release methane and other harmful emissions into the atmosphere.
Maersk believes that green bio-methanol is one of the promising fuels of the future as it can play an important role in decarbonising supply chains within the next 10-15 years.
Vice President and Head of Decarbonisation of AP Moller Maersk, Morten Bo Christiansen said that the Danish shipping company is ready to scale the production and distribution of sustainable fuels with WasteFuel, “exploring potential future green solutions not just for our vessels, but also for Maersk aviation and trucking activities.”
WasteFuel, which is focused on turning waste into sustainable aviation fuel, green bio-methanol, and renewable natural gas, is also developing projects in Asia and the US, including a biorefinery in Manila, Philippines for the production of low-carbon fuels.
The Co-founder, Chairman and CEO of WasteFuel, Trevor Neilson stated that the company was established to solve two problems; the waste crisis and the growing demand for low-carbon fuels that can reduce overall emissions.
“Our goal is for WasteFuel to reduce lifecycle greenhouse gas emissions by 90% compared to fossil fuels” noted Neilson.
“Collaboration and investments in innovative projects are one of the most important ways to reach a carbon-neutral fuel value chain”, highlighted Morten Bo Christiansen.
