WasteFuel Marine plans bio-methanol production – ShipInsight

US company WasteFuel, a developer of low-carbon biofuels, has launched WasteFuel Marine, a renewable fuel solution for the shipping industry. WasteFuel Marine’s initial product will be bio-methanol for container ships. WasteFuel aims for its marine fuels to reduce CO2 emissions by 95% and NOx emissions by up to 80% compared to conventional fuels.

“Methanol has exceptional appeal as a renewable fuel – it can use existing logistics infrastructure, works with proven engine designs and has a lower production cost than other renewable fuels. Our production process optimizes well-established production methods to capture and utilize the greenhouse gases present in our waste streams to produce a safe and highly versatile product to meet the challenge of decarbonizing logistics,” said Mario De La Ossa, president of WasteFuel.

The IMO estimates that shipping accounts for around 3% of global greenhouse gas emissions. But given current growth rates and the lack of substantial efforts to decarbonise the sector, researchers warn that shipping could well account for up to 10% of all global emissions by 2050. country and company level have been taken over the last year. decarbonizing maritime transport and the sector’s international interest in decarbonizing has multiplied. Decarbonizing shipping requires low-carbon and greener fuel solutions at scale.

WasteFuel recently closed an oversubscribed funding round. Investors in the company include Maersk, Marc Benioff’s TIME Ventures, i(x) Investments, NetJets, Prime Infra, Guy Oseary and Aileen Getty.

WasteFuel’s solutions go beyond green methanol and shipping. The company has several biorefinery projects underway to produce low-carbon fuels to revolutionize mobility in the transport sector.

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