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Home Decarbonisation Campaign Maersk partners with energy startup for shipping electrofuels

Maersk partners with energy startup for shipping electrofuels

Maersk Growth has announced its new venture investment in the Silicon Valley-based startup Prometheus Fuels for cost-efficient and carbon-neutral eFuels for shipping, through a direct air capture technology.

Maersk believes this investment will help the company perform a decarbonisation strategy for marine operations, while electrofuels such as biodiesel, alcohols and green methanol which are being produced by renewable energy, water and ambient CO2 from direct air capture, are already feasible fuel technologies already today.

"Our electrofuel offers a truly viable solution to decarbonise shipping – one that can scale and be implemented in time to avoid catastrophic global warming," stated Rob McGinnis, Founder and CEO of Prometheus Fuels.

The Danish container carrier invests in synthetic alcohols and other electrofuels for the decarbonisation of shipping given their long-term scalability advantages compared to biobased fuels, and their potential to offer infinite availability regardless of geographic scope.

"Prometheus Fuels is developing an innovative technology to produce carbon-based electrofuels from direct air capture of CO2, which are expected to play a key role in the decarbonisation of shipping" claimed, Morten Bo Christiansen, Head of Decarbonisation, AP Moller - Maersk, who went on to point out, that if the electrofuels scaled successfully, Prometheus Fuels’ technology will address a key constraint for carbon-based electrofuels, namely the cost competitiveness of direct air capture.

Maersk joins a team of investors which includes BMW i Ventures and Metaplanet, while Peter Votkjaer Jorgensen, Partner at Maersk Growth, will join the Board of Prometheus Fuels.

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