News

2019 Apr 26

DFDS Invests in biofuel developer mash energy

DFDS is investing in the start-up company MASH Energy ApS that produces biofuel from agricultural waste, currently from the by-products of nut processing in Tanzania and India. The biofuel is CO2 neutral and can be used in ships. In addition, the residual product is an effective fertiliser and will also contribute to reduce the CO2 balance.

Together with Mash Energy, the goal is to develop a commercially viable alternative to fossil fuels, including testing on a DFDS ferry.

"We are extremely pleased to add DFDS, a large ferry operator, to the ownership circle which will give opportunities to test the biofuel in engines and verify that our product is indeed of the quality and price necessary for it to succeed in the shipping industry," says Jakob Andersen, CEO of Mash Energy.

The investment comprises DKK 10m made in three stages for a 24% ownership share of the company after the final stage. The investment supports DFDS' CSR-strategy of which a key ambition is to contribute to improving air quality.

"The investment is a result of our ambition to take responsibility for the development of commercially viable biofuel that is a real alternative to fossil fuels and thereby reduce the carbon footprint of our ferries. The aim is also to produce sufficient volume to make the biofuel commercially viable and identify other waste products that can be used to produce the biofuel," says Sofie Hebeltoft, Head of CSR at DFDS.

Source: inpublic.globenewswire.com

Do you like this article? Yes No

Ratings: 0 Yes 0 No

Other News by Category