Norden acquires minority stake in MASH Makes

Denmark’s Norden announced it has acquired a minority stake in MASH Makes, a Danish-Indian biofuel scale-up, which researches, develops and produces renewable fuels from biomass waste.

The investment is a strategic partnership, where Norden secures access to renewable fuels, specifically biooil, at favourable pricing.

Norden and MASH Makes have prior to the investment collaborated on the use of biofuels since 2021. Norden was in 2018 one of the first shipping companies to successfully trial 100% biofuel on a large ocean-going vessel.

The production of MASH Makes’ first biooil product is in a late development stage and a first trial onboard Norden vessels is tipped for early next year.

Furthermore, the expectation is that MASH Makes can gradually ramp up its production and become a significant supplier to Norden’s fleet within the next three years in strategically important locations for decarbonising global tramp shipping.

Maersk, Nippon Yusen Kaisha, Mitsui OSK Lines, BW Group and Compagnie Maritime Belge are among a growing host of shipowners who have also bought into future fuel providers.