C1 start-up raises growth capital from Maersk

The Climate tech start-up C1 has raised growth capital from Maersk Growth, the Venture Capital Arm of A. P. Møller – Maersk to faster scale their ultra-efficient catalysis, which will enable the mass production of green methanol without the usual premium paid for sustainably produced methanol. Besides the ability to function as a carbon-based feedstock for various chemical products, green methanol is the most tangible low-carbon fuel alternative to oil for container vessels today.

Shipping accounts for three percent of global CO2 emissions. The problem is that shipping is a hard-to-abate industry, and electrification is not an option for large ocean-going container vessels as the batteries would take up too much cargo space. Green methanol is the alternative fuel of choice to start decarbonising the shipping industry today and save millions of tons of CO2. However, price and scale remain a challenge.

Starting with quantum-chemical simulations, C1 has invented new ultra-efficient catalysis for green methanol to be produced from waste biomass or CO2 and H2, which will enable green methanol to become cost competitive. Due to the containerized design of the C1 -reactor – currently in the pilot stage – production is possible where sustainable feedstocks are available or close to harbours where green methanol is needed to fuel the vessels.