Argus Media Limited

10/14/2021 | News release | Distributed by Public on 10/14/2021 04:51

Maersk makes another alternative bunkers investment

Danish shipping giant AP Moller-Maersk has invested in a Dutch firm hoping to provide lignin for the marine fuel market.

Netherlands-based Vertoro produces liquid lignin sourced from forestry and agricultural residues. It can be blended with methanol, one of Maersk's planned future fuels, to produce bio-methanol.

The investment by Maersk's corporate venture business Maersk Growth will allow Vertoro to build a demonstration plant for its technology. Maersk said this will be operational in 2022, and product from the plant can go towards marine fuel.

As well as lignin-based fuels, Maersk is looking at biodiesel, methanol, and green ammonia to decarbonise its fleet. The firm recently ordered eight containerships that will be fuelled by methanol, for delivery in 2024.

This is Maersk's third recent investment into an alternative marine fuel firm. In September it partnered with US-based methanol producer WasteFuel and invested in electrofuels maker Prometheus Fuels.

By George Collard