Leading shipping company Norden has announced its acquisition of a minority stake in Mash Makes, a startup focused on renewable fuels derived from biomass waste. Norden will serve as a strategic partner, assisting the company in bringing its bio-oil products to the marine fuel market and securing off-take biofuel agreements for Norden’s fleet. Testing is expected to commence in the coming year.
As the shipping industry aims to transition towards net zero and zero carbon emissions, ensuring a stable supply of alternative fuels is a key challenge. Companies like Maersk, X-Press Feeder, NYK, and Mitsui O.S.K. Lines have all made efforts to support the development and adoption of greener fuels such as green methanol, ammonia, and hydrogen.
Norden has been collaborating with Mash Makes since 2021, conducting trials with biofuels. In 2018, Norden became one of the first shipping companies to test biofuel on a large ocean-going vessel. Through their partnership, Norden has gained insightsinto the viability and scalability of Mash Makes’ biofuel platform.
Norden CEO Jan Rindbo emphasizes the need for shipping companies to go beyond traditional supply agreements with fuel suppliers in order to achieve rapid decarbonization. By actively participating in the supply chain, Norden aims to ensure significant volumes and competitive pricing for low-emission freight solutions.
Mash Makes originated as a project at the Technological University of Denmark in 2015, focusing on technology to convert various waste streams, particularly residue biomass, into energy products. The company has since established its first production site in Ahmedabad, India, with ongoing research and development efforts in Denmark and India.
The production of Mash Makes’ first bio-oil product is in its final development stages. Norden plans to conduct its initial trial onboard its vessels in early 2024, gradually increasing production to become a major supplier to Norden’s fleet over the next three yars, targeting strategically important locations in the global shipping industry’s decarbonization efforts.
