WasteFuel Announces Landmark Agreement with Maersk

RNS Number : 4270E
i(x) Net Zero PLC
11 March 2022
 

i(x) Net Zero PLC

("i(x) Net Zero" or the "Company")

Portfolio Company WasteFuel Announces Landmark Agreement with Maersk

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on Energy Transition and Sustainability in the Built Environment, is pleased to announce that its portfolio company, WasteFuel, has embarked upon a commercial-scale bio-methanol partnership with A.P. Moller - Maersk ("Maersk"), the global container logistics company.

 

Maersk intends to buy a minimum of 30,000 tons per year of WasteFuel's green bio-methanol, which is generated from municipal waste, to fulfil the demand of Maersk's 12 new green methanol powered ships planned to be operational by 2024.

 

The full announcement can be found here: https://www.wastefuel.com/maersk-wastefuel-announce-green-methanol-agreement

 

Pär Lindström, Chief Investment Officer of i(x) Net Zero and WasteFuel Director, said: "This is an extremely exciting milestone for our portfolio company, WasteFuel, which is making a tangible impact on climate change through the production of sustainable fuels from municipal and agricultural waste. WasteFuel continues to successfully pursue its strategy through deepening its partnership with Maersk, which last year announced the acquisition of a minority stake in WasteFuel through its venture arm Maersk Growth."

 

Trevor Neilson, Co-Founder, Chairman, and CEO of WasteFuel, added: "Last year, many of the world's largest companies including Amazon, Ikea, Apple, Nestle and Patagonia pledged to reach net-zero emissions by 2050. Ships transport up to 90% of globally traded goods by volume and produce nearly 1.1 billion tons of carbon dioxide emissions. Without green fuel solutions, corporate net-zero commitments will be impossible to meet."

 

WasteFuel is part of a small group of six highly regarded companies, including CIMC ENRIC, European Energy, Green Technology Bank, Proman, and Ørsted, from which Maersk will source its sustainable fuel.

 

- Ends -

 

 

For further information visit https://ixnetzero.com/ or contact:

i(x) Net Zero

Via Buchanan below

Steve Oyer - Chief Executive Officer

 

Pär Lindström - Chief Investment Officer

 

Marc Chennault - Chief Financial Officer

 

 

 

H & P Advisory Limited

Financial Adviser & Joint Broker

+44 20 7907 8500

Neil Passmore

 

Ernest Bell

 

Andy Crispin (Sales)

 

 

 

Shore Capital

Nominated Adviser & Joint Broker

+44 20 7408 4050

Tom Griffiths

 

David Coaten

Iain Sexton

 

 

 

Buchanan

 

Helen Tarbet

+44 7872 604 453

Simon Compton

+44 7979 497 324

Ariadna Peretz

+44 7488 495 969

 

 

Notes to Editors

About i(x) Net Zero PLC

i(x) Net Zero PLC is an AIM quoted investing company that provides its shareholders the opportunity to create long-term capital growth with positive, scalable, measurable and sustainable impact on the environment and on the communities it serves.

In accordance with its belief that the world's biggest problems are also the biggest market opportunities, i(x) Net Zero focuses on two critical areas in which it aims to make a positive impact: (i) Energy Transition and (ii) Sustainability in the Built Environment. The Company uses a multi-strategy investment approach, providing the companies in which it invests with the expertise and catalytic capital to help them grow. To date, i(x) Net Zero has invested in biofuels, direct air capture (carbon removal), renewable energy, sustainable workforce housing and net zero construction technology.

i(x) Net Zero is a provisional signatory to the UN Principles for Responsible Investing. The Company has received the London Stock Exchange's Green Economy Mark.

About WasteFuel  

 

WasteFuel produces renewable fuels using proven technologies to address the climate emergency and revolutionize mobility. WasteFuel converts municipal (trash) and agricultural waste into low-carbon fuels such as renewable natural gas and green methanol.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NRADZGMFMGNGZZZ
UK 100

Latest directors dealings