World News
Maersk Invests in Danish Biofuel Firm
A unit of container line and logistics firm AP Moller-Maersk has joined the list of investors in a Danish biofuels company.
Danish technology company Kvasir Technologies has developed a method of producing carbon-neutral biofuels from non-edible biowaste material.
Maersk Growth, the venture arm of AP Moller-Maersk, is among the companies backing Kvasir in its latest investment round which has raised EUR 2.15 million, the company said in an emailed statement on Thursday.
"Scaling up production of low carbon fuels will play an essential role in achieving the decarbonisation targets of AP Moller-Maersk as well as the broader maritime industry," Lasse Truels Köhler, senior associate at Maersk Growth, said in the statement.
"In Maersk Growth, we strive to accelerate this transition by identifying and supporting new innovative technology companies on the path towards commercial scale.
"Kvasir is a prime example of this, and we are excited to join them on this journey."
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| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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