Energy company bp has announced an additional USD10mn investment in biofuels startup WasteFuel, along with a collaboration agreement to enhance bio-methanol production and focus on decarbonizing the maritime shipping sector. WasteFuel converts municipal and agricultural waste into low carbon fuels, including green methanol, using scalable technologies. Their WasteFuel Methanol Module produces fuel-grade methanol from waste sources through anaerobic digestion, leading to significant CO2 reductions compared to conventional fuels. The partnership aims to improve production yields and economics for bio-methanol and contribute to reducing carbon emissions in the shipping industry.

Source: ESGToday