The company’s corporate venture arm, Maersk Growth, had joined forces with California-based WasteFuel, a start-up focussed on turning waste into sustainable aviation fuel, green bio-methanol, and renewable natural gas.
With the investment, Morten Bo Christiansen, VP and Head of Decarbonisation at Maersk, is joining the board of WasteFuel.
Christiansen commented, “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.
“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’s 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 said it was 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.
For each feedstock and project, the company evaluates its sustainability as well as the emission reductions, using lifecycle analysis including all greenhouse gases.
WasteFuel is also developing projects in Asia and the Americas including a biorefinery in Manila, Philippines, to produce low-carbon fuels.