• Maersk and WasteFuel today announced a groundbreaking agreement focused on the large-scale use of green methanol.

• Maersk intends to purchase more than 30,000 tonnes per year of WasteFuel to power its ships from 2024.

• The order will support the refueling of 12 new Maersk vessels powered by green methanol, each with a capacity of 16,000 containers.

COPENHAGEN & LOS ANGELES, March 10, 2022–(BUSINESS WIRE)–WasteFuel and Maersk today announced a commercial-scale biomethanol partnership, which is expected to help accelerate the decarbonization of the shipping sector.

Maersk intends to purchase 30,000 tonnes per year of bio-methanol WasteFuel, an order to meet demand for its 12 new green methanol-powered vessels which are expected to be operational by 2024.

Initially, this green methanol will be made from municipal waste conversion in South America by 2024, but the two partners plan to further expand green methanol projects and production.

This announcement builds on Maersk Growth’s investment in WasteFuel last year, under the theme of decarbonization, as part of Maersk’s strategy to reach net zero by 2040.

This partnership has significant implications for some of the world’s largest consumer products companies, with green fuel intended to reduce the carbon footprint of products purchased and shipped around the world.

Speaking from Copenhagen, Denmark, Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands, AP Moller – Maersk said: “To drive the massive increase in green fuels we need to transition to decarbonization, production must increase over time. Green methanol is the only market-ready sustainable fuel available today for transportation and production needs to be accelerated through collaboration across the ecosystem and around the world. This is why these partnerships mark an important step in initiating the transition to green energy.

Speaking from WasteFuel’s headquarters in Los Angeles, California, Trevor Neilson, co-founder, president and CEO, said: “Over the past year, many of the biggest companies in the world, including Amazon, Ikea , Apple, Nestlé and Patagonia, have pledged to achieve net zero emissions by 2050. Ships carry nearly 90% of the world’s traded goods by volume and produce nearly 1.1 billion tons of carbon dioxide emissions. carbon, which rivals the annual output of Germany, the world’s sixth largest emitter, zero commitments will be impossible to meet.”

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Compared to conventional fuels, WasteFuel aims for its marine fuels to reduce CO2 emissions by 95%, reduce nitrogen oxide emissions by up to 80% and eliminate sulfur oxide and particulate emissions.

Maersk Growth, the Corporate Venture arm of AP Moller – Maersk announced its investment in WasteFuel in September 2021. Joining Trevor Neilson, Guillaume Lucci, Par Lindstrom, Bradley Ferrell and Guy Oseary on the WasteFuel Board of Directors.

WasteFuel, using proven technologies to convert waste – which would otherwise decompose releasing greenhouse gases – into low-carbon fuels, offers solutions to decarbonize air, land and sea transport. In addition to the green methanol project with Maersk, the company has several biorefinery projects underway, including a project in the Philippines to produce sustainable aviation fuel and biomethanol in partnership with Prime Infra and NetJets and projects across the Americas. and Asia to produce renewable natural fuel. Green gas and methanol.

About WasteFuel

WasteFuel uses proven technologies to tackle the climate emergency and revolutionize mobility. We transform municipal (waste) and agricultural waste into low-carbon fuels, renewable natural gas and green methanol.

WasteFuel investors include Maersk, Marc Benioff’s TIME Ventures, i(x) Net Zero, NetJets, Prime Infra, Guy Oseary and Aileen Getty.

For more information, visit: www.wastefuel.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220310005116/en/

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