EMEA News
MarineFifty Plans Up to €11 Million Investment in Marine Biofuel Startup Kvasir
Investment firm MarineFifty plans to invest up to €11 million in Danish biofuel startup Kvasir Technologies to support the commercialisation of its drop-in marine fuels.
The investment, subject to contract, follows Kvasir's €10 million series A funding round announced earlier this month, Kvasir said in a press release on Wednesday.
It will help the company progress to a final investment decision (FID) on its first commercial-scale production plant.
Kvasir has developed a process that converts non-edible biomass into bio-oil, a drop-in replacement for conventional marine fuel that can be used in existing ship engines without modification.
MarineFifty said the investment supports its strategy of backing technologies that can accelerate shipping's decarbonisation, while Kvasir said the funding will help speed up commercial-scale production of its renewable fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| EMEA Average | 917.50 | 14.00 | 1740.00 | 21.00 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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