WasteFuel Announces Landmark Agreement with Maersk
i(x) Net Zero PLC
("i(x) Net Zero" or the "Company")
Portfolio Company WasteFuel Announces Landmark Agreement with Maersk
i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on Energy Transition and Sustainability in the Built Environment, is pleased to announce that its portfolio company, WasteFuel, has embarked upon a commercial-scale bio-methanol partnership with A.P. Moller - Maersk ("Maersk"), the global container logistics company.
Maersk intends to buy a minimum of 30,000 tons per year of WasteFuel's green bio-methanol, which is generated from municipal waste, to fulfil the demand of Maersk's 12 new green methanol powered ships planned to be operational by 2024.
The full announcement can be found here: https://www.wastefuel.com/maersk-wastefuel-announce-green-methanol-agreement
Pär Lindström, Chief Investment Officer of i(x) Net Zero and WasteFuel Director, said: "This is an extremely exciting milestone for our portfolio company, WasteFuel, which is making a tangible impact on climate change through the production of sustainable fuels from municipal and agricultural waste. WasteFuel continues to successfully pursue its strategy through deepening its partnership with Maersk, which last year announced the acquisition of a minority stake in WasteFuel through its venture arm Maersk Growth."
Trevor Neilson, Co-Founder, Chairman, and CEO of WasteFuel, added: "Last year, many of the world's largest companies including Amazon, Ikea, Apple, Nestle and Patagonia pledged to reach net-zero emissions by 2050. Ships transport up to 90% of globally traded goods by volume and produce nearly 1.1 billion tons of carbon dioxide emissions. Without green fuel solutions, corporate net-zero commitments will be impossible to meet."
WasteFuel is part of a small group of six highly regarded companies, including CIMC ENRIC, European Energy, Green Technology Bank, Proman, and Ørsted, from which Maersk will source its sustainable fuel.
- Ends -
For further information visit https://ixnetzero.com/ or contact:
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i(x) Net Zero |
Via Buchanan below |
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Steve Oyer - Chief Executive Officer |
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Pär Lindström - Chief Investment Officer |
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Marc Chennault - Chief Financial Officer |
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H & P Advisory Limited Financial Adviser & Joint Broker |
+44 20 7907 8500 |
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Neil Passmore |
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Ernest Bell |
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Andy Crispin (Sales) |
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Shore Capital Nominated Adviser & Joint Broker |
+44 20 7408 4050 |
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Tom Griffiths |
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David Coaten Iain Sexton |
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Buchanan |
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Helen Tarbet |
+44 7872 604 453 |
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Simon Compton |
+44 7979 497 324 |
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Ariadna Peretz |
+44 7488 495 969 |
Notes to Editors
About i(x) Net Zero PLC
i(x) Net Zero PLC is an AIM quoted investing company that provides its shareholders the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.
In accordance with its belief that the world's biggest problems are also the biggest market opportunities, i(x) Net Zero focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment. The Company uses a multi-strategy investment approach, providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) Net Zero has invested in biofuels, direct air capture (carbon removal), renewable energy, sustainable workforce housing and net zero construction technology.
i(x) Net Zero is a provisional signatory to the UN Principles for Responsible Investing. The Company has received the London Stock Exchange's Green Economy Mark.
About WasteFuel
WasteFuel produces renewable fuels using proven technologies to address the climate emergency and revolutionize mobility. WasteFuel converts municipal (trash) and agricultural waste into low-carbon fuels such as renewable natural gas and green methanol.
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