Global integrated shipping firm Maersk is the newest investor-partner to join the waste-to-fuel venture being advanced by Razon-led Prime Infrastructure Holdings Inc.
In a statement to the media, Prime Infra indicated that Maersk’s investment into the waste-based fuel production project will become part of the shipping company’s decarbonization initiative on its fleets.
According to Guillaume Lucci, president of Prime Infra, “Maersk adds to the line-up of impactful shareholders working towards a greener and cleaner future of mobility.”
The US-based WasteFuel Global has been the initial partner of the Razon group in that waste-to-fuel undertaking; and Lucci is also a member of the board of directors of the American company.
Prime Infra emphasized that Maersk’s investment “will help WasteFuel develop biorefineries that would turn waste into low-carbon sustainable fuels.”
There’s no specific amount given yet as to the scale of investment that the Danish shipping company will be injecting into the project.
Morten Bo Christiansen, vice president and head of decarbonization of A.P. Moller-Maersk, said “collaboration and partnerships are key to scaling the production and distribution of sustainable fuels, and we look forward to doing exactly that with WasteFuel.”
He qualified their company has been “exploring potential future green solutions, not just for our vessels, but also for Maersk aviation and trucking activities.”
Prime Infra announced this year its plan to install a biorefinery facility in Luzon; and it is targeting to bring that to commercial fruition by year 2025. As cast on blueprint, the plant will convert municipal wastes into green fuel – and that shall include fuel solutions for aviation fleets.
Lucci noted “our project is progressing well and continues through the various phases of feasibility, which we expect to be concluded this year.”
Then from that milestone, the project-sponsor company said it is targeting the venture’s official launch- as this is an undertaking that “will both address waste crisis and reduce carbon emissions from the transport sector.”
Trevor Neilson, chairman & CEO and also a co-founder of WasteFuel, expressed enthusiasm on the partnership that their company has cemented with Maersk, with him asserting that such will usher in “an era of more environmentally conscious sea transport.”
He added “our goal is for WasteFuel to reduce life-cycle greenhouse gas emissions by 90-percent compared to fossil fuels.” ###