Norden takes stake in biofuel developer

Mash Makes, a company specializing in sustainable fuel production from biomass waste, has made an investment that will secure biofuel supplies for the shipping company Norden at favorable prices. This investment will also guarantee Norden access to future renewable biofuels as they become available. This is particularly important for vessels working in tramp trades, as their supply chain for suitable fuel is more challenging compared to ships deployed on specific routes.

Norden, which operates a fleet of over 90 bulk carriers and tankers, has also agreed to help Mash Makes market its products in the marine market. The first of these sustainable fuels is in the later stages of development and will be tested aboard Norden ships early next year. Following successful testing, the companies plan to further scale up biofuel production, making Mash Makes a major supplier of sustainable fuels for Norden ships over the next three years. These fuels will be strategically provided in important locations to support the decarbonization efforts in tramp shipping.

Jan Rindbo, CEO of Norden, emphasized the need for the company to have a greater role in the supply chain in order to achieve decarbonization at the necessary speed. This is crucial in meeting the demands of climate change and remaining competitive in offering low emission freight solutions to customers. Adam Nielsen, the Head of Logistics & Climate Solutions at Norden, highlighted the benefits of biooil, as it can be readily used in existing vessel technologies, bridging the gap between fossil fuels and carbon-free alternatives.

With this investment, Mash Makes and Norden are looking towards the future of biofuels and increasing their consumption. By utilizing biofuel, they aim to address the challenges of transitioning from fossil fuels to carbon-free alternatives, which often require new vessel technologies. This investment not only secures a reliable supply of biofuel but also contributes to the overall mission of reducing emissions in the shipping industry.

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