California-based WasteFuel, a developer of low-carbon biofuels, on Thursday (13 January) launched WasteFuel Marine, a renewable fuel solution for the shipping sector.
WasteFuel Marine’s initial product will be bio-methanol for container ships.
The firm aims for its marine fuels to reduce CO2 emissions by 95% and Nitrogen Oxide emissions by up to 80% compared to conventional fuels.
“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,” said Mario De La Ossa, President of WasteFuel.
“Our production process optimises 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 decarbonising logistics.”
WasteFuel has recently closed an oversubscribed fundraising round, it says. Investors in the company include Maersk, Marc Benioff’s TIME Ventures, i(x) investments, NetJets, Prime Infra, Guy Oseary, and Aileen Getty.
The company has several biorefinery projects underway to produce low-carbon fuels as an energy source for air, land, and sea applications.
‘Economics of the shipping market will be the key driver enabling methanol to be adopted at a higher pace going forth over next couple years as market begins to return to more normal rates,’ states COO.
Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
Variability of sources can affect the stability and performance of biofuel bunkers produced from these feedstocks, in turn leading to difficulties in meeting regulations and industry standards, shares Bryan Quek.
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Livestock carrier also involved in earlier bunker claim with Glander International Bunkering due to remaining unpaid fuel bill of approximately USD 116,000, according to court documents obtained by Manifold Times.
A blend of standard MGO and biodiesel, MGO B20 is distributed at the company’s floating kiosk CNC 5 which is located off the buoy of West Coast Pier; PS Energy has been stamped with globally recognised ISCC.