AM Green, a hydrogen and ammonia producer owned by the founders of Indian renewable company Greenko Energy Holdings, is planning to raise around $1 billion to fund its growing business. The firm is reportedly working with an adviser on the fundraising to bolster its ability to produce green hydrogen and other chemical compounds. AM Green
Classification society DNV has entered into a Joint Development Project (JDP) with AL Group and its Singapore company Asiatic Lloyd Maritime LLP to explore the feasibility of carbon capture and storage (CCS) on board AL’s 7,100TEU containership and Kamsarmax bulk carrier newbuildings. Under the JDP, DNV will cooperate with AL on a techno economic study
The European Tugowners Association (ETA) has called on the European Commission to prevent cargo diversion from EU ports and carbon leakage which could possibly occur due to the Emissions Trading System (ETS) introduction. ETA said that there was a risk of cargo diversion due to ETS inclusion in shipping which is coming into force next
Neste and Outokumpu deepen their cooperation to reduce greenhouse gas emissions. Outokumpu will replace the fossil fuels used by its Kemi mine and Tornio steel mill and the contractors on these sites with Neste MY Renewable Diesel™. Outokumpu manufactures the world’s lowest-emission stainless steel. Its goal is to achieve carbon neutrality at its Kemi mine
Methanol propulsion specialist Green Marine Copenhagen and Singapore-based Stamford Ship Management have formed a joint venture in Singapore with a mission to build and manage, both commercially and technically, methanol dual fuel propulsion vessels across multiple market segments. Singapore, the world’s top bunkering hub, is getting the infrastructure in place for shipping’s future fuel mix
NYK has started to conversion of a tugboat to ammonia-fuel which it says is a world first. The LNG-fuelled tugboat Sakigake is being converted to run on ammonia at Keihin Dock Co. Ltd. Dubbed, A-Tug, the vessel’s entire engine and fuel tank will be replaced. NYK said the yard will cut the engine room to
The search is on worldwide to find ways to extract carbon dioxide from the air or from power plant exhaust and then make it into something useful. One of the more promising ideas is to make it into a stable fuel that can replace fossil fuels in some applications. But most such conversion processes have
Wärtsilä Board of Directors has decided to initiate a strategic review of its Energy Storage and Optimisation (ES&O) business. The strategic review aims to assess options that would accelerate the profitable growth of the ES&O business in a way that benefits its customers, employees, and the value creation for Wärtsilä shareholders. As part of this
If humanity wants to have a 50-50 chance of limiting global warming to 1.5°C, we can only emit 250 another gigatonnes (billion metric tonnes) of CO₂. This effectively gives the world just six years to get to net zero, according to calculations in new paper published in Nature Climate Change. The global level of emissions
Hydrogen sulfide, a toxic chemical that exists in significant quantities in the depths of the Black Sea, has long been considered a risk to the local marine ecosystem. But some experts believe it could be used as a source of clean energy equivalent to over 850 million tons of oil, with added ecological benefits. With