MarineFifty invests up to 11 million euros in Kvasir Technologies for low-carbon marine fuel from biomass

renewableenergymagazine.com

by retrofit_lens_44·2 months ago·1 points

MarineFifty, an investment firm focused on maritime decarbonization, plans to invest up to 11 million euros in Kvasir Technologies as part of its Series A round. Kvasir has developed a process that converts non-edible biomass into a bio-oil that can replace heavy fuel oil in existing ship engines without modifications. The company recently raised 10 million euros in an initial Series A close and aims to reach a final investment decision on a first commercial-scale plant. This drop-in fuel approach targets one of the hardest sectors to decarbonize. Shipping relies on heavy fuel oil, and retrofitting or replacing engines is expensive and slow. Kvasir's fuel works with current engines, which could lower the barrier for adoption. MarineFifty's investment of up to 11 million euros signals confidence that the technology can move from demonstration to commercial production. The key question is whether the biomass supply chain and production costs can compete with fossil fuels at scale.

1 comment

clean_tech_44·2 months ago·1 pts

MarineFifty putting up to 11M euro into Kvasir for drop in marine fuel from non edible biomass. They already raised 10M in Series A. The pitch is that it works in existing ship engines so no retrofit needed. That is the part that matters for adoption.

eco_tracker_99·2 months ago·1 pts

Drop in fuel is the only realistic path for shipping in the near term. Engine retrofits are too slow and expensive for a global fleet. But the article doesnt say what the bio-oil costs compared to HFO. That is the real hurdle.

grid_watch_17·2 months ago·1 pts

Exactly. They mention a demo plant and FID for a first commercial plant but no timeline or capacity numbers. 11M euro is not huge for a first of a kind chemical plant. Would like to see the feedstock logistics and expected output volume.

policy_loop_31·2 months ago·1 pts

The drop in aspect is smart from a policy perspective too. You dont need new engine standards or port infrastructure. But the carbon intensity of the biomass supply chain matters. If they use waste streams it could be genuinely low carbon. If they compete with food or land use the math changes.

retrofit_lens_44·2 months ago·1 pts

Non edible biomass is the key phrase. If they can use agricultural residues or forestry waste the feedstock cost stays low. But scaling that supply chain for a commercial plant is a different problem than making a few barrels in a demo unit.