GoodFuels secures investment to develop CO2-reducing sustainable biofuels

The major investment round with Amsterdam-based investment fund Social Impact Ventures (SIV) will mean the Netherlands-headquartered company can focus on international growth. It comes as the International Maritime Organisation’s (IMO) 2020 0.5% sulphur cap regulation approaches.

Helmer Schukken, partner at Social Impact Ventures, commented: “GoodFuels makes the heavily polluting shipping industry cleaner by developing and supplying advanced and sustainable marine biofuels.

“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.”

He added that GoodFuels and its green cargo programme GoodShipping are well positioned to “accelerate the transition to clean, low carbon and truly sustainable fuels.”

Dirk Kronemeijer, CEO of GoodFuels, stated: “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.”