Netherlands-based biofuels producer for the shipping and heavy land transport sectors GoodFuels has secured a major investment round with Amsterdam-based investment fund Social Impact Ventures (SIV).
The investment will be used to boost product development and accelerate international growth, thereby making a significant contribution to reduce carbon dioxide (CO2), improve air quality and achieve global Sustainable Development Goals (SDG), it says.
“GoodFuels makes the heavily polluting shipping industry cleaner by developing and supplying advanced and sustainable marine biofuels,” comments Helmer Schukken, Partner at SIV.
“These fossil-free fuels are one of the few options available today to drastically reduce the carbon footprint of shipping over the next decade.
“There is more need for this than ever, as indicated by the recently published International Maritime Organisation (IMO) targets for a 50% reduction in CO2 by 2050.
“In GoodFuels and its leading Green Cargo Program, GoodShipping, we find an ambitious and impact-driven team, perfectly positioned to accelerate the transition to clean, low carbon and truly sustainable fuels.
“As Social Impact Ventures – we are proud to support this high impact cause.”
Dirk Kronemeijer, CEO of GoodFuels, believed SIV supports the direction of his company.
“Of many interested investors, SIV best understood our mission to deliver global impact as a regular value creation goal. We think SIV will be a great partner to help us grow our company into the first global sustainable fuel brand in the world,” he says.
Reinplus Fiwado Bunker, a subsidiary of VARO Energy, in January partnered with GoodFuels Marine to offer biofuel bunkers along inland shipping routes in the Netherlands.
Photo credit: GoodFuels
Published: 23 May, 2018
Firm hopes to leverage partnership in Greece as a springboard to expand into neighbouring and overseas markets including Europe and China, says Robin Van Elderen, Regional Head Bunkers, Europe, Sing Fuels.
Singapore can help less developed countries in SouthEast Asia through ‘piloting and scaling fuels and technology as well as a leading hub for green finance’, said DNV Group President and CEO Remi Eriksen.
Octamar™ Ultra HF, Octamar™ Complete, and Octamar™ F35C were found to have improved the fuel economy while reducing exhaust gas and other emissions of marine engines in a series of trials, states report.
Disposal of evidence has resulted in Singapore not being able to provide full details to the United Nationals Panel of Experts which sought information regarding the case, says Ministry of Foreign Affairs.
‘We are proud to be amongst the first to show the successful steps taken by Singapore’s bunkering ecosystem to remain forward thinking and relevant,’ Choong Sheen Mao, Director of EMF, tells Manifold Times.
‘With the launch of a common data infrastructure, Kenoil aims to continue achieving an end to end visibility and transparency on the bunker data supply chain,’ states Kenoil Managing Director.