Biofuel
UK-Malaysian biotech firm HutanBio to scale bio bunker fuels for shipping industry
Development comes following the firm securing investment of USD 2.9 million from Clean Growth Fund to accelerate the commercial use of its HBx biofuel oil to supply to shipping and aviation industries.
HutanBio, a biotech firm founded by scientists from Cambridge University, based in the UK and in Malaysia, on Thursday (18 January) said it has secured investment of GBP 2.25 million (USD 2.9 million) from UK clean-tech venture capital fund Clean Growth Fund to accelerate the commercial use of its HBx biofuel oil to supply to shipping and aviation industries.
HutanBio identified GBP 30 billion market opportunity in shipping and aviation industries for HBx biofuel, that is designed as a “drop-in” fuel to existing supply chains.
“HutanBio is aiming to secure a significant share of the maritime fuels market over the next decade, mandated by the International Maritime Organisation to reduce CO₂ emissions by at least 40% by 2030 (compared to 2008), to account for its carbon emissions this year (2024) and stop using fossil fuels by 2050,” the company said in a statement.
“Designed from the outset as a ready-made drop-in replacement fuel for the global shipping industry, HBx will support these mandates.”
HBx bio-oil is a sustainable and scalable high energy density, low carbon, sulphur-free, fuel solution, that uses CO₂ greenhouse gas as a feedstock for algae that are grown in special “bio-reactor farms”. These farms, designed and engineered by HutanBio and controlled by Artificial Intelligence to optimise yields, will be built on unproductive and non-agricultural semi-arid and arid land in countries where there are high levels of sunlight.
Breakthrough Algal Biofuel Platform in Malaysia – Pilot Setup
Drawing on its extensive global cultivation trials and research work undertaken in Malaysia, HutanBio will provide the algae cultures and expert guidance to set up bio-reactor farms around the world. The biofarms will increase a country’s energy security, provide a major economic stimulus and enhance the local environment. HutanBio will help countries to become green and sustainable powerhouses. The company is investigating the possibility of its first biofarms to be in Morocco and Australia.
Given the need for CO₂ as a feedstock for its algae, HutanBio expects to locate some of its bio-reactor farms on land adjacent to high CO₂-emitting heavy industries. HutanBio offers these industries, for example the cement industry, with a ready-made and circular carbon capture and use solution, whilst allowing the HBx biofuel to be used in their operations. HutanBio’s project development approach is through modular expansion to suit market demands, helping to build supplies of HBx in a manageable and sustainable way.
The science behind HutanBio has been led by three people and who founded the company: Dr John Archer from Cambridge University (now the company’s Chief Scientific Officer), Noor Azlin Mokhtar, originally a PhD student at Cambridge working with John and now the company’s Director of Operations, and Suhaiza Ahmad Jamhor, who has a Masters degree in Biotechnology from Universiti Selangor in Malaysia. The company’s Chief Executive is Paul Beastall, who has had a career in scaling UK technology companies and has been instrumental in transforming HutanBio from a science-based company into a commercial venture.
Dr John Archer said: “Clean Growth Fund’s investment in HutanBio, coupled with the strong commercial interest in HBx now being shown by potential customers from around the world, is hugely exciting and underlines the company’s massive potential.”
“We have been patient and rigorous in our scientific work to ensure that HBx is market-ready, demonstrating the world-class expertise and tenacity of our team. We believe that HBx unlocks the biofuel puzzle, with the capability to produce a cost-effective biofuel an order of magnitude greater than any other oil-crop.”
Highlighting HBx’s commercial opportunity in global shipping, Paul Beastall, CEO, said: “We have designed HBx from the outset to blend seamlessly with existing infrastructure and supply chains. It requires no engine or vessel modification, meaning adoption of HBx can be immediate and without affecting operational efficiency. Vessel life can be maximised whilst carbon emissions are reduced without changing ship and port operations which is crucial for rapid deployment.”
Dr Jonathan Tudor, Investment Partner at Clean Growth Fund, said: “The positive impact that HBx can have on today and tomorrow’s world is significant.”
“We know that the use of algae has long been recognised as a promising source of biofuel and for varying reasons many companies have failed to successfully commercialise, but the scientific rigour of HutanBio, the qualities of HBx and the market opportunities it has in the shipping and aviation sectors in particular gives Clean Growth Fund cause for great celebration to support the company’s future growth.”
“HutanBio can be a major disruptor in the fuel supply market and make a major contribution to the decarbonisation of transport and the hard-to-abate heavy industries.”
The investment from Clean Growth Fund will support the expansion of HutanBio’s engineering and business development teams in Cambridge.
Photo credit: HutanBio
Published: 19 January, 2024
Alternative Fuels
DNV: Alternative-fuelled vessel orders hit highest monthly level since October 2024
LNG-fuelled vessels accounted for the vast majority of August activity while the strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year.
Latest data from classification society DNV’s Alternative Fuels Insight (AFI) platform alternative-fuelled vessel ordering was strong in August, with 52 new vessels added to the platform.
This is the highest monthly total since October 2024 and follows another active month in July, when 47 vessels were added to the database.
LNG-fuelled vessels accounted for the vast majority of August activity, with 46 orders recorded. The container segment led the way with 30 orders, while the car carrier segment contributed a further 12 LNG-fuelled vessels. In addition, four ethanol-fuelled bulk carriers and two hydrogen-powered bulk carriers were added during the month, as well as one LNG bunker vessel.
The strong summer performance marked a significant acceleration in ordering activity after a relatively slow start to the year. In total, 242 alternative-fuelled vessel orders have been placed in the first eight months of 2026, representing a 27% increase compared with the same period in 2025.
LNG remains the dominant fuel choice, accounting for 63% of all alternative-fuelled vessel orders registered so far this year. Container vessels represent the largest share of these LNG orders (59%), followed by car carriers (30%).
Jason Stefanatos, Global Decarbonization Director at DNV Maritime, said: “The past two months have been particularly strong for alternative-fuelled vessel ordering, with August recording the highest monthly total we’ve seen since October 2024. This has helped lift year-to-date orders to a level well above the same period last year.
“LNG remains the leading fuel choice, driven largely by activity in the container and car carrier segments. These sectors have been among the earliest adopters of alternative fuels, supported by predictable liner operations and increasing demand from cargo owners to reduce emissions across supply chains.
“For many owners, LNG offers a combination of emissions reductions, fuel availability and future flexibility while the longer-term fuel landscape continues to evolve.
“At the same time, the latest figures include orders for ethanol- and hydrogen-fuelled vessels, highlighting that owners continue to explore a range of decarbonization pathways. Different segments are making different fuel choices, but the overall level of activity demonstrates continued investment in lower-emission shipping.”
Photo credit: DNV
Published: 4 September, 2026
Alternative Fuels
Hercules Tanker Management’s ‘Ultra-Spec Series’ tanker “Vanessa” begins maiden voyage
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Alternative Fuels
NYK and Stolt-Nielsen target LNG, bio-LNG bunkering growth through Avenir LNG JV
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