Maersk Growth invests in sustainable fuel start-up

METHANOLOGY AG uses innovative processes to develop technologies capable of producing large quantities of renewable methanol using the power of enzymes and advanced catalytic materials. The focus is on high efficiency in converting raw materials such as CO2 and biogas into renewable methanol.

The journey of the METHANOLOGY technology initially started at a spin-off company from the University of Rostock in Germany and has been transferred to Switzerland to develop revolutionary environmental solutions together with the local cleantech cluster.

To meet the ambitious 2040 target of net zero greenhouse gas emissions in time, A.P. Moller - Maersk aims to transport a minimum of 25% of Ocean cargo using green fuels by 2030, compared to a 2020 baseline. In June 2023 the group announced the maiden voyage of the world’s first methanol-enabled container vessel. The ship arrived in Copenhagen in September after a 21,500 km trip from Ulsan, South Korea. The company prepares to receive a fleet of new, large ocean-going methanol-enabled ships from 2024.

“We are proud to receive support from an industry-leading company, committing to ambitious net zero targets with a dedicated focus on the importance of access to promising technologies for producing sustainable fuels like renewable methanol”, commented the company in a blog post.

The global methanol market is estimated to reach USD 100 billion by 2026, Fossil-free and CO2-neutral produced e-methanol will be take-over a main part of this market in the future and also substitute a major part of the current oil and natural gas market.

(Press release / SK)