World News
Bill Gates-Backed Blue World Technologies Expands Maritime Fuel Cell Market Presence
Fuel cell manufacturer Blue World Technologies is expanding its presence in shipping with a new methanol fuel cell system.
The company has designed a methanol fuel cell-powered auxiliary power unit for ships, it said in a statement on its website on Thursday. Production is planned to start later this month.
The firm, backed by Bill Gates's Breakthrough Energy Ventures, raised EUR 37 million in a funding round in August.
"Especially within the last couple of years, we have seen that the use of renewable methanol as shipping fuel has turned into a global trend, with more and more methanol-driven vessels, cruise ships, and large ocean-going container ships being built," b, chief commercial officer at Blue World, said in the statement.
"As a provider of auxiliary power units for shipping, Blue World Technologies will support this trend by offering high-power methanol fuel cell solutions with high electrical efficiency, long durability, and low maintenance costs.
"Combining our core technology with the entire production from components to finished systems, our customers will benefit from our first-hand technological know-how."
Methanol can be used either as a fuel to be burned in an engine, or as the feedstock for a fuel cell that can generate power for ships' systems. Supply to the shipping industry is rapidly being scaled up to meet demand from upcoming new ships for large firms like AP Moller-Maersk and CMA CGM.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
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| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
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| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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