Ambiente
Fuel cell manufacturer Blue World Technologies closes financing round with Maersk Growth and EIFO
The financing round was announced during COP28 in Dubai where Blue World Technologies was presenting their high-temperature PEM fuel cell technology as a solution to support the decarbonisation of the maritime industry. The Danish Minister for Climate, Energy, and Utilities, Lars Aagaard was present at the announcement together with Alexa Ríos Araneda, Head of Strategic Business Innovation at Maersk Growth and Peder Lundquist , Chief Executive Officer at The Export and Investment Fund of Denmark .
The shipping industry accounts for around 3% of global greenhouse gas emissions and is considered a hard-to-abate sector. Therefore, there is a need for green fuels and new technologies to reach the targeted climate goals. The Blue World methanol fuel cells enable efficient conversion of methanol to electricity with a superior electrical efficiency of up to 65%. Furthermore, fuel cells provide the potential for internal waste heat utilisation to optimise the methanol-reforming process and for additional energy recovery that can be used onboard, improving the total system efficiency.
Blue World's patent-pending system architecture enables a reduction in fuel consumption of 20-30% paving the way for a reduction in the green premium related to fuelling with e-fuels. The fuel cell system architecture provides an opportunity for 100% capture of the generated CO₂ with a fuel increase of only 2-3% enabling attractive recycling business models. With an industrial approach, Blue World Technologies has built a fuel cell factory in Aalborg, Denmark , ensuring in-house production of all the core fuel cell components alongside system development and manufacturing.
says Anders Korsgaard , Co-founder and Chief Executive Officer at Blue World Technologies and continues:
A.P. Moller - Maersk has set an ambition for its entire business including its fleet of around 700 container vessels to reach net zero emission in 2040. The company has recently received its first green methanol-enabled vessel "Laura Maersk" and has another 24 vessels capable of sailing on green methanol on order for delivery in the coming years.
On top of the venture investment in Blue World, Maersk has ordered a methanol fuel cell pilot system for auxiliary power developed by Blue World to be installed on one of the Maersk's methanol-powered container ships on order. The system is subject to being class-approved by ABS.
says Ole Graa Jakobsen, Vice President, Fleet Technology at A.P. Moller – Maersk.
Being one of the early investors in Blue World Technologies, The Export and Investment Fund of Denmark is happy to welcome Maersk on board:
says Peder Lundquist , Chief Executive Officer at The Export and Investment Fund of Denmark .
Anne Kvist
Mail: akv@blue.world
Mobile: +45 31 60 16 71
Morten Buttler
Mail: morten.buttler@maersk.com
Mobile + 45 28 14 82 02
Ina Bjerregaard-Castenborg
Mail: ibc@eifo.dk
Mobile: +45 20 65 21 14
The following files are available for download:
View original content:https://www.prnewswire.co.uk/news-releases/fuel-cell-manufacturer-blue-world-technologies-closes-financing-round-with-maersk-growth-and-eifo-302006159.html