Maersk Invests in Green Methanol Firm
The deal is Maersk's first methanol investment of the new year. File Image / Pixabay
Container shipping and logistics firm AP Moller-Maersk has announced the latest in a series of investments in green methanol as it seeks to secure zero-carbon fuel supply for its ships.
The firm's venture arm, Maersk Growth, has made an investment of an unspecified size into Berlin-based C1 Green Chemicals, it said in a LinkedIn post on Thursday.
C1 has developed a containerised bioreactor for green methanol production that it says operates in a more efficient and cost-competitive manner than other alternatives.
"Green methanol is the most promising way to drastically cut emissions from long-distance shipping at scale in the short term, and we see much traction in that space," Peter Jorgensen, partner at Maersk Growth, said in the statement.
"We are really excited about C1's cutting-edge scientific approach, reinventing every production step.
"Such a level of innovation and attention to detail is key to success, and we believe that their technology can play an important role in decarbonising hard-to-abate industries, including shipping."
Maersk has 19 methanol-fuelled boxships on order, the first of which is due for delivery in the middle of this year.