Biofuels manufacturer enters the marine market with bio-methanol

WasteFuel aims for its marine fuels to reduce CO2 emissions by 95% and NOx 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. Our production process optimizes 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 decarbonizing logistics,” said Mario De La Ossa, President of WasteFuel.

WasteFuel has recently closed an oversubscribed fundraising round. Investors in the company include Maersk, Marc Benioff’s TIME Ventures, i(x) investments, NetJets, Prime Infra, Guy Oseary, and Aileen Getty.

On investing in the company in September 2021, Morten Bo Christiansen, VP and Head of Decarbonisation, A.P. Moller – Maersk, said: “We know that sourcing an adequate amount of green fuel for our methanol fueled vessels will be very challenging, as it requires a significant production ramp up. Collaboration and partnerships are key to scaling the production and distribution of sustainable fuels, and we look forward to doing exactly that with WasteFuel; exploring potential future green solutions not just for our vessels, but also for Maersk aviation and trucking activities.”

With the investment, Christiansen joined the Board of WasteFuel.

WasteFuel has several biorefinery projects underway in Asia and the Americas to produce low-carbon fuels for the transportation sector, including a biorefinery in Manila.