Maersk invests in bio-methanol production company WasteFuel
Summary
“WasteFuel was launched to solve two problems: the waste crisis that affects millions of people’s lives globally and the growing demand for low-carbon fuels that can reduce overall emissions. We’re proud to have partnered with Maersk to usher in an era of more environmentally conscious sea transport,” Trevor Neilson, co-founder, chairman and CEO of WasteFuel, said in the release. WasteFuel’s goal is to reduce the life-cycle greenhouse gas emissions by 90% by switching to bio-methanol compared to fossil fuels, according to Neilson. The eight container vessels, equipped to run on methanol or very low sulfur fuel oil, are expected to save around 1 million metric tons of CO2 emissions annually. This order proves that carbon-neutral solutions are available today across container vessel segments and that Maersk stands committed to the growing number of our customers who look to decarbonize their supply chains.