Norden Acquires Stake in Mash Makes to Strengthen Position in Renewable Fuels
Introduction
Leading dry-bulk and product tanker shipping company Norden has announced its acquisition of a minority stake in Mash Makes, a startup focused on renewable fuels from biomass waste. This strategic partnership aims to bring bio-oil products to the marine fuel market and secure off-take biofuel agreements for Norden’s fleet. Testing is expected to commence next year.
The Importance of Sustainable Development Goals (SDGs)
- Goal 7: Affordable and Clean Energy
- Goal 9: Industry, Innovation, and Infrastructure
- Goal 13: Climate Action
- Goal 14: Life Below Water
- Goal 17: Partnerships for the Goals
The Challenge of Alternative Fuel Supply
The shipping industry is actively working towards achieving net zero and zero carbon emissions. One of the key challenges is ensuring a reliable supply of alternative fuels. Companies like Maersk, X-Press Feeder, NYK, Mitsui O.S.K. Lines, and CMB.Tech are investing in and supporting the development of green methanol, ammonia, hydrogen, and other new fuels.
Norden’s Collaboration with Mash Makes
Norden has been collaborating with Mash Makes since 2021, focusing on the use of biofuels. In 2018, Norden became one of the first shipping companies to trial biofuel on a large ocean-going vessel. Through its partnership with Mash Makes, Norden has gained valuable insights into the viability and scalability of the company’s biofuel platform.
CEO’s Perspective on Decarbonization
Norden CEO Jan Rindbo emphasizes the need for a more active role in the supply chain to achieve decarbonization at the necessary speed. Traditional offtake agreements with fuel suppliers are not sufficient. Norden aims to ensure significant volumes and attractive prices, making the company competitive in offering low emission freight solutions to its customers.
About Mash Makes
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 different energy products. The company has successfully developed a processing platform and is now focused on commercial execution. Its first production site in Ahmedabad, India, came online in May of this year.
Future Plans and Goals
Mash Makes is in the late development stage of producing its first bio-oil product. Norden plans to conduct the first trial onboard its vessels in early 2024. The goal is to gradually increase production and become a significant supplier to Norden’s fleet within the next three years, strategically targeting locations for decarbonizing global shipping.
SDGs, Targets, and Indicators
-
SDG 7: Affordable and Clean Energy
- Target 7.2: Increase substantially the share of renewable energy in the global energy mix
- Indicator: Proportion of total energy consumption from renewable sources
-
SDG 9: Industry, Innovation, and Infrastructure
- Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable
- Indicator: CO2 emissions per unit of value added in manufacturing industries
-
SDG 13: Climate Action
- Target 13.2: Integrate climate change measures into national policies, strategies, and planning
- Indicator: Number of countries that have communicated the strengthening of institutional, systemic, and individual capacity-building to implement adaptation, mitigation, and technology transfer
-
SDG 14: Life Below Water
- Target 14.1: By 2025, prevent and significantly reduce marine pollution of all kinds
- Indicator: Index of coastal eutrophication and floating plastic debris density
Analysis
The article addresses several Sustainable Development Goals (SDGs) and their corresponding targets:
SDG 7: Affordable and Clean Energy
The article discusses Norden’s investment in a startup company focused on renewable fuels from biomass waste. This aligns with SDG 7, which aims to increase the share of renewable energy in the global energy mix. The specific target under this SDG is to increase substantially the share of renewable energy, which is relevant to the article’s focus on bio-oil products as a renewable fuel source. The indicator for this target is the proportion of total energy consumption from renewable sources.
SDG 9: Industry, Innovation, and Infrastructure
The article mentions the need to upgrade infrastructure and retrofit industries to make them sustainable in the context of transitioning to alternative fuels. This aligns with SDG 9, which focuses on sustainable industry, innovation, and infrastructure. The specific target under this SDG is to reduce CO2 emissions per unit of value added in manufacturing industries. This target is relevant to the article’s discussion of decarbonizing the shipping industry through the use of biofuels.
SDG 13: Climate Action
The article highlights the shipping industry’s transition to net zero and zero carbon emissions as part of climate action efforts. This aligns with SDG 13, which aims to take urgent action to combat climate change and its impacts. The specific target under this SDG is to integrate climate change measures into national policies, strategies, and planning. The indicator for this target is the number of countries that have communicated the strengthening of capacity-building to implement adaptation, mitigation, and technology transfer. This target and indicator are relevant to the article’s discussion of the shipping industry’s efforts to decarbonize and adopt alternative fuels.
SDG 14: Life Below Water
The article mentions the importance of preventing and reducing marine pollution, which aligns with SDG 14, which focuses on the conservation and sustainable use of the oceans, seas, and marine resources. The specific target under this SDG is to prevent and significantly reduce marine pollution of all kinds. The indicator for this target is the index of coastal eutrophication and floating plastic debris density. While the article does not provide specific information on how the use of biofuels relates to this target and indicator, the adoption of renewable fuels can contribute to reducing marine pollution by reducing the emissions of harmful pollutants from traditional fossil fuels.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | Target 7.2: Increase substantially the share of renewable energy in the global energy mix | Proportion of total energy consumption from renewable sources |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.4: Upgrade infrastructure and retrofit industries to make them sustainable | CO2 emissions per unit of value added in manufacturing industries |
| SDG 13: Climate Action | Target 13.2: Integrate climate change measures into national policies, strategies, and planning | Number of countries that have communicated the strengthening of institutional, systemic, and individual capacity-building to implement adaptation, mitigation, and technology transfer |
| SDG 14: Life Below Water | Target 14.1: By 2025, prevent and significantly reduce marine pollution of all kinds | Index of coastal eutrophication and floating plastic debris density |
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Source: maritime-executive.com
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