Maersk invests in Prometheus Fuels

In Denmark, Maersk Growth has made a leading venture investment in Prometheus Fuels, a Silicon Valley-based startup with a promising direct air capture-technology to enable cost efficient, carbon neutral eFuels for shipping.

The minority investment in Prometheus Fuels will support A.P. Moller – Maersk’s work to execute on the strategy to decarbonize marine operations.

Maersk expects several fuels to exist alongside in the future fuel mix and has identified 4 potential fuel pathways to decarbonization; biodiesel, alcohols, lignin-enhanced alcohols and ammonia.

The investment supports Maersk’s efforts with electrofuels which include alcohols produced from renewable energy. Along with biodiesel, alcohols including green methanol are feasible fuel technologies already today.

Maersk expects synthetic alcohols and other electrofuels to play a big role in the decarbonisation of shipping, due to its long-term scalability advantages compared to biobased fuels. Produced from renewable energy and water and ambient CO2 from direct air capture, it has the potential to offer infinite availability regardless of geographic scope.