All subjects
Biofuels & Oils

WasteFuel launches WasteFuel Marine – renewable fuels for shipping

US-based WasteFuel Global LLC (WasteFuel), a developer of low-carbon transportation biofuels, has recently announced the launch of WasteFuel Marine, a renewable fuel solution for the shipping sector. WasteFuel Marine aims for its fuels to reduce carbon dioxide (CO2) emissions by 95 percent and nitrogen oxide (NOx) emissions by up to 80 percent compared to conventional fuels, and its initial product will be green methanol for container ships.

According to the International Maritime Organisation (IMO), over 90 percent of the world’s trade is carried by sea and it is, by far, the most cost-effective way to move en masse goods and raw materials around the world. Shipping is responsible for 2-3 percent of global greenhouse gas (GHG) emissions, so the industry has significant potential to help create a carbon-neutral economy by 2050. Maersk is determined to play its part by leading the development and scaling of future solutions.
WasteFuel Global LLC (WasteFuel), a developer of low-carbon transportation biofuels, has announced the launch of WasteFuel Marine, a renewable fuel solution for the shipping sector. WasteFuel Marine aims for its fuels to reduce carbon dioxide (CO2) emissions by 95 percent and nitrogen oxide (NOx) emissions by up to 80 percent compared to conventional fuels, and its initial product will be green methanol for container ships.

The International Maritime Organization (IMO) estimates that shipping accounts for about 3 percent of global greenhouse gas emissions. But given the current growth rates and a lack of substantial efforts to decarbonize the sector, shipping could well represent up to 10 percent of all global emissions by 2050.

More commitments at the country and corporate levels have been made over the last year to decarbonize shipping and international interest from the sector to decarbonize has multiplied. Decarbonizing sea transport requires low-carbon, greener fuel solutions at scale.

Methanol has exceptional appeal as a renewable fuel – it can use existing logistics infrastructure, works with proven engine designs, and has a lower production cost relative to other renewable fuels. Our production process optimizes well-established production methods to capture and use greenhouse gases found in our waste streams to produce a safe and highly versatile product to tackle the challenge of decarbonizing logistics, said Mario De La Ossa, President of WasteFuel.

The company has recently closed an oversubscribed fundraising round. Investors in the company include Aileen Getty, Guy Oseary, i(x) investments, Maersk, Marc Benioff’s TIME Ventures, NetJets, and Prime Infra.

According to WasteFuel, its solutions go beyond green methanol and marine transport. Using proven technologies WasteFuel plans to build biorefineries to convert municipal- and agricultural waste into low-carbon fuels, renewable natural gas (RNG), and green methanol for aviation, shipping, and land-based transportation.

The company has several biorefinery projects underway to produce low-carbon fuels to “revolutionize mobility across the transportation sector.”

Most read on Bioenergy International

Get the latest news about Bioenergy

Subscribe for free to our newsletter
Sending request
I accept that Bioenergy International stores and handles my information.
Read more about our integritypolicy here