Shipping company Maersk has announced a commercial-scale partnership to buy green methanol, in what is believed to be a “landmark” agreement with WasteFuel.
It intends to purchase more than 30,000 tons per year of bio-methanol, which will support the fuelling of its 12 new green methanol-powered ships, planned to be operational by 2024.
The green fuel will initially be made from the conversion of municipal waste in South America.
WasteFuel aims for its marine fuels to reduce carbon emissions by 95%, nitrogen oxide emissions by up to 80% and to eliminate sulphur oxide and particulate matter emissions, compared to conventional fuels.
The latest announcement builds upon Maersk Growth’s investment in WasteFuel last year, supports its ambition to reach net zero by 2040 and helps accelerate the decarbonisation of the shipping sector.
Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, A.P. Moller – Maersk said: “To drive the massive scale-up of green fuels we need to transition towards decarbonisation, production must increase in time.
“Green methanol is the only market-ready sustainable fuel available today for shipping and production must be accelerated through collaboration across the ecosystem and around the world. That is why these partnerships mark an important milestone to get the transition to green energy underway.”