Americas News
CMA CGM Invests in Vanguard Renewables for Long-Term Renewable LNG Supply
French container shipping firm CMA CGM has taken a minority stake in US-based Vanguard Renewables to secure long-term access to renewable LNG (RNG) supply for its fleet.
The investment, made through CMA CGM's PULSE energy fund, ensures access to RNG production from Vanguard's US facilities, Vanguard said in a statement on its website on Wednesday.
Vanguard converts food and farm waste into RNG through anaerobic digestion, diverting organics from landfills while producing low-carbon fuel.
Up to four RNG projects will be allocated to CMA CGM, supporting the carrier's LNG-powered fleet as it moves away from fossil LNG to cleaner LNG alternatives.
"We are thrilled to partner with CMA CGM, the third largest container shipping company in the world, in support of their decarbonization objectives," Michael O'Laughlin, CEO of Vanguard Renewables, said.
"Vanguard Renewables' unique business model provides a blueprint for a truly circular solution that offers significant benefits for GHG emission reduction and diverting organic waste from landfills."
