Ambiente
Breakthrough Energy Ventures backs Blue World Technologies by joining its €37 million series-B
The series B funds will be used for scaling the fuel cell production as well as investing in the development of methanol-driven fuel cell applications for the maritime sector. In late 2021, the company insourced all the production of the core fuel cell components and is currently in pre-series production. Later this year, Blue World Technologies will launch series production and with further scaling, the company expects to reach a production capacity of 500 MW within a couple of years.
says Co-founder and Chief Executive Officer, Anders Korsgaard , from Blue World Technologies
We are facing a global climate crisis, and the only way out is to reach net-zero CO emissions. In 2018, Anders Korsgaard , Mads Bang , and Mads Friis Jensen founded Blue World Technologies to contribute to this mission, and since then, the company has worked determinedly on industrialising the methanol fuel cell technology through R&D and large-scale production. The fuel cells act as an alternative to fossil-based combustion engines, and with high energy conversion, the methanol fuel cells enable a cost-efficient utilisation of renewable e-fuels such as methanol.
said Carmichael Roberts of Breakthrough Energy Ventures.
explains Anders Korsgaard and continues:
said Mariya Gabriel , European Commissioner for Innovation, Research, Culture, Education and Youth.
Breakthrough Energy Ventures-Europe was established by the European Commission, the European Investment Bank (EIB), and Breakthrough Energy Ventures to invest in innovative European companies and bring radically new clean energy technologies to the market. It was established to support Europe's best clean energy entrepreneurs whose solutions can deliver significant and lasting reductions in greenhouse gas emissions – Blue World Technologies and this investment in the company is an example of that.
European Investment Bank Vice-President Christian Kettel Thomsen said:
One of the early investors Vaekstfonden is delighted to welcome Breakthrough Energy Ventures:
, says Christian Winther , Partner in Vaekstfonden and board member in Blue World Technologies and continues:
One of the largest challenges in ensuring a net-zero future lies within the maritime sector, where direct electrification is not an option due to operational requirements. With an annual CO reduction potential of 1.8 Gt in 2050, new technologies and fuels are essential. Especially within the last year, the use of renewable methanol as shipping fuel has turned into a global trend, with methanol-driven vessels, cruise ships, and large ocean-going container ships currently being built. The fuel cell systems from Blue World Technologies enable a green, CO -neutral operation with zero particle outlet. As a flexible power solution, the system can be used for auxiliary power, for smaller gensets or larger power units in the megawatt range, or for propulsion depending on ship type and customer needs.
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