In early July, Green Marine Group and Vertoro B.V. announced a strategic partnership aimed at accelerating the market validation and commercial deployment of crude lignin oil (CLO) as a sustainable marine fuel (SMF).
The collaboration will focus on rigorous market testing and speeding up the commercial rollout of CLO-based marine fuels, positioning this innovative biofuel technology at the forefront of the sustainable shipping energy transition.
Crude lignin oil is a bio-based fuel derived from lignin, a natural polymer found in the cell walls of plants. As a renewable resource, lignin can be processed into effective fuels through various methods. Vertoro has been developing technology to extract lignin and convert it into biofuels by combining it with alcohols such as methanol or ethanol, resulting in low-carbon fuels suitable for maritime applications.
Fredrik Stubner, Founder and CEO of Green Marine Group, expressed enthusiasm about the partnership: “We are excited to join forces with Vertoro to bring their revolutionary lignin-alcohol blend fuel to market. This breakthrough technology not only offers significant environmental benefits but also provides cost efficiencies, paving the way for a greener and more competitive shipping industry.”
Dr. Michael Boot Boot, Co-founder and Co-CEO of Vertoro, highlighted the value of Green Marine Group’s expertise. “Green Marine Group has an excellent track record as a connector between green fuel producers, engine manufacturers, and shipping companies. Their role has opened numerous opportunities for Vertoro in both fuel validation and offtake agreements,” he said.
Together, the two companies aim to lead the development and adoption of CLO as a viable sustainable marine fuel, contributing to decarbonizing the shipping sector.
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