March 11 (Renewables Now) - Danish container shipping group AP Moller-Maersk A/S (CPH:MAERSK) will be getting more than 30,000 tonnes of WasteFuel bio-methanol annually to support its decarbonisation targets.
This is one of several contracts announced on Thursday by the shipping giant, which needs green methanol to supply the first 12 green container vessels in its fleet. These are planned to be operational by 2024.
“Green methanol is the only market-ready sustainable fuel available today for shipping and production must be accelerated through collaboration across the ecosystem and around the world,” said Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands at Maersk.
Los Angeles-based WasteFuel, in which the Danish company’s venture arm Maersk Growth bought a stake in September 2021, is focused on the production of green methanol, renewable natural gas and other low-carbon fuels from municipal and agricultural waste. Initially, the green methanol for Maersk will be made from municipal waste in South America by 2024, while the partners expect to launch more projects.
With its marine fuels, WasteFuel aims to offer a 95% carbon dioxide emissions reduction when compared to conventional fuels. The Nitrogen Oxide emissions can be up to 80% lower and there are also no sulphur oxide and particulate matter emissions.
Maersk has set itself a net zero target by 2040. The company pointed out that efforts to decarbonise shipping would translate into a lower carbon footprint for different consumer products transported by sea.
"Last year, many of the world’s largest companies including Amazon, Ikea, Apple, Nestle and Patagonia pledged to reach net-zero emissions by 2050 [..] Without green fuel solutions, corporate net-zero commitments will be impossible to meet," commented Trevor Neilson, WasteFuel’s co-founder, chairman and CEO.