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Bunker Fuel

EnerPure secures USD35m to commercialise UMO-to-low-sulphur marine fuel technology

By investing in EnerPure, CGF is enabling the scale-up of a made-in-Canada waste-to-value process that upgrades UMO into drop-in marine fuels compatible with existing marine vessel engines.

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EnerPure secures USD35m to commercialise UMO-to-low-sulphur marine fuel technology

Canada Growth Fund (CGF) recently announced an investment of USD 20 million in EnerPure, a Calgary-based cleantech company that has developed a proprietary small-scale, modular recycling process to convert used motor oil (UMO) into low-sulphur marine fuels. 

This transaction forms part of a USD 35 million growth equity financing led by Rice Investment Group (RIG), a U.S.-based multi-strategy investment fund focused on the energy sector.

By investing in EnerPure, CGF is enabling the scale-up of a made-in-Canada waste-to-value process that upgrades UMO, a petroleum-derived waste product, into drop-in marine fuels compatible with existing marine vessel engines. This investment directly supports the construction of EnerPure’s first commercial recycling facility in Alberta, anchoring the Company’s core technology, engineering and operating expertise in Canada, while contributing to the creation of high-quality jobs and catalyzing further private-sector capital into the country’s clean-fuels ecosystem.

“With more than $1 billion invested in clean technologies, CGF is helping innovative Canadian companies like EnerPure bring proven solutions to market. This investment will advance the construction of its first commercial facility and accelerate the deployment of a scalable, repeatable recycling platform,” said Yannick Beaudoin, President and Chief Executive Officer of Canada Growth Fund Investment Management (CGFIM). 

“By investing in EnerPure at this pivotal stage of growth, CGF is pleased to support the commercialization of a Canadian-developed circular-economy solution in a hard-to-abate sector.”

“EnerPure has developed a compelling platform with a differentiated approach to converting UMO into valuable marine fuels. We believe the combination of an attractive market opportunity, a scalable business model and a management team with deep project execution experience positions the Company well for its next phase of growth,” said Ryan Kanto, Partner at RIG. 

“We are pleased to lead this financing alongside CGF and to support EnerPure’s team as they advance construction of the first commercial facility.”

“This financing marks an important milestone for EnerPure and provides the capital required to advance construction of our first commercial facility in Alberta. We are excited to partner with investors who share our vision and support the execution of our growth plan as we demonstrate the commercial value of our technology at scale,” said Rick Koshman, President and Chief Executive Officer of EnerPure. 

“Our focus is now on execution: completing engineering, advancing construction and bringing our first commercial facility into operation. We appreciate the confidence shown by our investors and look forward to delivering on the milestones ahead.”

Founded in 2009 in Manitoba and now headquartered in Calgary, EnerPure is a Canadian cleantech company advancing a proprietary process designed to upgrade UMO into International Maritime Organization (IMO) 2020-compliant marine fuels. 

Through its small-scale, modular approach, the company aims to create a scalable network of recycling facilities capable of economically processing regional UMO volumes often underserved by traditional re-refining infrastructure.

Having successfully demonstrated the technology at pilot scale, the company is now advancing its first commercial-scale facility, with operations targeted for 2028.

 

Photo credit: Canada Growth Fund, EnerPure
Published: 25 August, 2026

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Bunker Fuel Quality

VPS: High bunker prices meet declining fuel quality

Of the current 29 Bunker Alerts issued by VPS from January to July 2026, the combination of abrasive issues due to elevated cat-fines, plus fuel stability issues, account for 72% of these alerts.

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Steve Bee, Group Marketing and Strategic Projects Director of marine fuels testing company VPS, on Monday (24 August) reviewed 2026 marine fossil fuel quality to date and the high number of issues being witnessed: 

Marine fuel buyers entered 2026 facing a perfect storm, suffering some of the highest bunker prices ever experienced, paired with a sharp and concerning decline in fuel quality. Across the traditional marine fossil fuel supply chain, VPS has seen a marked rise in fuel quality issues, with the Middle East conflict playing a major role in driving both price volatility and quality deterioration. For ship owners/operators, the message is clear, today’s fuel market is not only more expensive, it is also becoming more complex and unpredictable, with a higher degree of operational risk.

This deterioration is already showing itself in the test data VPS have produced. Between January and July 2026, VPS issued 29 Bunker Alerts, more than the total issued across the whole of 2024 and already closing in on the 37 alerts recorded throughout all of 2025. In just seven months of 2026, the scale and frequency of these alerts underline a clear, accelerating rise in fuel quality problems across the industry. Of the current 29 Bunker Alerts issued so far, Jan-Jul 2026, the combination of abrasive issues due to elevated cat-fines, plus fuel stability issues, account for 72% of these alerts. The ports requiring cat-fines and/or stability-related bunker alerts were, ARA, Balboa, Busan, Callao, Hamburg, Houston, Las Palmas, Philadelphia, Piraeus, Rotterdam, San Roque, Singapore and Valencia.

What is of additional interest is that marine gas oil does not account for a single Bunker Alert so far in 2026. It is HSFO and VLSFO dominating the fuels requiring such warnings.

VPS: High bunker prices meet declining fuel quality

Looking at the rate of off-specifications across each of the main marine fossil fuel types, HSFO is currently running at 8.87% of samples tested, being off-specification for at least one ISO8217 test parameter, whilst VLSFO has 9.88% off-specification level, MGO has 9.03% and ULSFOs is at 19.58%. ISO 8217 provides specification requirements for marine fuel as delivered to the ship. From a commercial perspective the fuel is only required to meet the specification at the point of custody transfer, ie at the ship’s manifold. However, compliance at this point, is not a guarantee of assurance that the fuel can be used without operational difficulties throughout its onboard lifecycle. This includes, how the fuel is stored, treat and consumed in main engines, generator engines, boilers, or other machinery. The condition of the fuel which ultimately reaches the machinery, is also strongly influenced by onboard fuel management, including storage and settling temperatures, settling time, purification temperature and throughput, purifier configuration and desludging arrangements, filtration, maintenance of the correct injection viscosity and other operational factors.

This is why knowing the characteristics of the bunkered fuel is critical to managing it correctly onboard. Appropriate testing can identify characteristics which, although not necessarily resulting in an ISO 8217 specification failure, may warrant additional operational attention. VPS therefore evaluates bunker fuels not only against the applicable specification requirements, but also provides operational advice where analytical findings indicate that additional precautions may be appropriate during storage, treatment or consumption.

VPS testing and observations, based on over 45 years of marine fuel testing experience and expertise, strongly align with a recent Linkedin post by marine and energy consultants, Brookes Bell. Their post highlighted a growing concern within the industry, stating a P&I Club had reported that bunker-related claims are up 50% this year, with many of the fuels involved having technically passed ISO8217 standard specification testing.

The same post noted that some ISO8217-compliant fuels have still caused operational damage. This has left shipowners to manage complex evidentiary disputes after problems arose. Its key warning was clear: Standard compliance testing alone isn’t catching the problem. If “passing spec” is not necessarily the same as being “safe-to-burn”, then the critical question becomes, “What additional testing is needed to identify the real operational risks?”

VPS have recognised that for some time, the ISO8217 standard is not an all-encompassing set of tests providing the highest level of asset, crew and environmental protection. For this reason, VPS offer a range of additional tests, as well as our Additional Protection Service (APS) test bundles. For example in the case of avoiding damages from cat-fines, the Fuel System Check (FSC) service, can provide valuable information in regard to monitoring purifier efficiency and the removal of cat-fines, protecting the engine to a higher degree. Whereas, Separability Number testing, is a key compliment to the hot filtration stability tests of TSP, TSA and TSE in mitigating stability risks. Should additional cold-flow information be required, the VPS proprietary Wax Appearance Temperature (WAT) testing provides key storage and fuel transfer temperature information. Whilst the VPS chemical screening services can identify potentially harmful chemicals within a fuel before the fuel is burnt. Then more detailed Gas Chromatography Mass Spectrometry (GCMS) forensic analysis provides key information to potentially support the fuel claims process.

VPS account managers and technical specialists can help shipowners and operators determine which laboratory tests are most appropriate for their fleet, based on the fuel characteristics, vessel operations and potential risk exposure. This guidance can support the mitigation of risks linked to engine damage, SOLAS compliance, legislative requirements and wider operational reliability.

The VPS Technical Advisory Team reviews bunker analysis results together with the vessel operational observations to provide practical advice on fuel storage, handling, purification and overall fuel management. Where appropriate, additional laboratory tests, or test bundles, may be recommended to further evaluate the fuel and assist in identifying the cause of an operational issue, supporting more informed decision-making.

VPS continues to monitor regional and global fuel quality trends through its laboratory network and customer feedback. Information received from vessels experiencing similar operational issues is valuable in helping VPS identify emerging trends and provide timely technical guidance to the wider shipping industry.

 

Photo credit: VPS
Published: 25 August, 2026

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Events

Singapore: APPEC 2026 to spotlight global oil flows and shipping’s role in energy security

Event unites decision-makers across crude, refining, trading, shipping, petrochemicals, biofuels, and downstream markets to share actionable intelligence on market shifts, amongst others.

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Singapore: Delegates to discuss resilience, trade and opportunity at APPEC 2026

Oil Redefined, Resilience, Trade & Opportunity | September 7–10, Singapore

Now in its 42nd year, the Asia Pacific Petroleum Conference (APPEC) is S&P Global Energy’s annual flagship oil and commodities event, widely recognized as Singapore’s best oil conference and APAC’s top commodity event. It unites decision-makers across crude, refining, trading, shipping, petrochemicals, biofuels, and downstream markets to share actionable intelligence on market shifts, commercial opportunities, and risks shaping global energy flows.  

Why Attend APPEC?

APPEC 2026 offers independent market insight, expert-led discussion, and practical commercial perspectives on pricing, supply and demand, regional dislocations, and the forces driving global energy flows.

  • Live market intelligence from keynotes, plenaries, and expert-led panels. 
  • Practical insight into pricing, supply and demand, and the regional dislocations shaping global oil flows. 
  • High-value networking with senior leaders and specialists across crude, trading, refining, shipping, chemicals, biofuels, and downstream markets. 
  • Deep-dive sessions designed to sharpen decision-making and support near-term commercial execution.

Key Themes for APPEC 2026

  • Supply Dynamics: Diverse Sources, Evolving Partnerships
  • Geopolitical Disruption vs. Market Reality
  • Refining’s Margin Squeeze: Optimizing Value in Changing Markets
  • Demand Evolution: Meeting Diverse Energy Needs
  • Maritime and Trade: Shipping’s Role in Energy Security
  • Biofuels: Pathways to Commercial Scale

With market conditions defined by trade shifts, geopolitical tensions, and demand evolution, APPEC 2026 delivers unmatched market intelligence, C-level expertise (30% of 210 speakers), and high-value networking that positions it ahead of all other Singapore and APAC commodity events. Held in Singapore, APPEC remains the definitive gathering for oil and energy decision-makers.

To learn more about APPEC and register, visit https://www.spglobal.com/energy/en/events/conferences/appec

 

Photo credit: S&P Global Energy
Published: 25 August, 2026

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LNG Bunkering

GAIL, DPA and DNV to explore LNG bunkering facility at Kandla Port

Initiative will explore the development of LNG bunkering infrastructure, supply chain, safety framework and operational ecosystem at Kandla.

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India’s natural gas company GAIL on Sunday (23 August) said it has signed a Tripartite Cooperation Agreement with Deendayal Port Authority (DPA) and classification society DNV to explore the establishment of a LNG bunkering facility at Kandla Port.

The partnership brings together GAIL’s LNG expertise, DPA’s strategic port infrastructure and DNV’s global technical expertise in maritime safety and LNG bunkering.

“The initiative will explore the development of LNG bunkering infrastructure, supply chain, safety framework and operational ecosystem at Kandla, supporting the adoption of cleaner marine fuels and India’s vision for greener and more sustainable shipping,” the company said in a social media post.

The agreement was signed by Shri Sushil Kumar, Chairman of Deendayal Port Authority; Shri Anant Khobragade, ZCGM, Gujarat Zonal Office; and Ajay Kumar Singh, Business Lead, Marine Advisory, DNV India.

 

Photo credit: GAIL
Published: 25 August, 2026

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