Shipping Firm Norden Buys Stake in Biofuel Producer

by Ship & Bunker News Team
Wednesday August 2, 2023

Shipping firm Norden has bought a stake in a biofuel producer.

The company has acquired a minority stake in Danish-Indian biofuel company MASH Makes, and become a strategic partner of the firm, it said in a statement on its website on Wednesday. The two companies have been collaborating in the biofuels space since 2021.

Under the deal, Norden will help market the company's biofuels as well as securing some of its output for the shipping company's own fleet. MASH Makes's first biofuel product is in a late development stage, with trials expected on board Norden ships early next year.

"With this investment, we are turning our attention to the next generation of biofuels and scale up consumption of biofuel," Adam Nielsen, head of logistics and climate solutions at Norden, said in the statement.

"The benefit of biooil is that it can be used in existing vessel technologies and bridge the gap between transitioning from fossil fuels to carbon free fuels, which requires new vessel technologies."

Demand for biofuel bunker blends is increasing as shipowners take them on as a drop-in replacement for conventional fuels with a lower carbon footprint, allowing them to reduce GHG emissions without investing in new ships capable of running on other alternative fuels.

Ship & Bunker News Team
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