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.
Related: Biofuel bunkers make headway into Netherlands
Photo credit: GoodFuels
Published: 23 May, 2018
Vessel will be chartered to ENI Trade & Biofuels, a subsidiary of Ente Nazionale Idrocarburi, and will be engaged in oil transportation in the North Sea and Barents Sea.
Report shows increased bacteria growth from the use of biodiesel in blending some low sulphur fuels compromises stability and poses risk to damaging hardware.
Shift Clean Energy, with partner Red Offshore, and SeaTech Solutions have entered into a partnership to develop Singapore’s first hybrid bunker tankers.
‘That means a very significant change is coming in terms of crew training. Right now, handling dynamic fuels is for specialists only,’ shares Christopher J. Wiernicki.
NOx emissions from biofuel might be higher than fossil diesel oils and the industry has limited knowledge on handling biofuels as part of their fuel supply, it said.
Designed by Glosten, the vessel will feature a new hydrogen-hybrid propulsion system that integrates hydrogen fuel cells alongside a conventional diesel-electric power plant.
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
