Latest news with #e-methanol
Zawya
4 days ago
- Business
- Zawya
AD Ports to jointly explore e-methanol bunkering, export facility in UAE
AD Ports Group has signed a collaboration agreement to undertake a feasibility study for the development of an e-methanol bunkering and export facility at Khalifa Port and Khalifa Economic Zones Abu Dhabi (KEZAD Group). The agreement was signed with the UAE's Masdar, the Netherlands' Advario and France's CMA CGM Group. The project will provide critical infrastructure to complete the supply value chain and bridge commercial e-methanol production with key off-takers, such as CMA CGM, the Abu Dhabi-listed AD Ports said in a statement. Saif Al Mazrouei, Chief Executive Officer- Ports Cluster, AD Ports Group, said the development of an e-methanol bunkering and export facility in Khalifa Port will support the growth of the shipping industry and contribute to the reduction of carbon emissions by promoting clean energy sources. Green hydrogen and its derivatives, such as e-methanol, are pivotal in decarbonising hard-to-abate sectors like shipping, said Dr Faye Al Hersh, Head of Green Hydrogen Business Development (UAE), Masdar. 'With over 80 percent of global trade transported by sea, fostering strategic partnerships is essential to establishing robust green hydrogen value chains and ensuring a more sustainable maritime industry,' Al Hersh said. Christine Cabau Woehrel, Executive Vice President for Assets and Operations, CMA CGM Group, said the company is accelerating the decarbonation of shipping by investing in low-carbon solutions, with a fleet of more than 153 vessels capable of using low-carbon energies and synthetic fuels such as e-methanol operational by 2029. The collaboration agreement follows a memorandum of understanding signed in 2023 between AD Ports Group and Masdar to explore the development of a green hydrogen hub within KEZAD. The new agreement aligns with the Abu Dhabi Low Carbon Hydrogen Policy and the UAE's National Hydrogen Strategy, which targets the scaling up of local hydrogen production to 1.4 million tonnes per annum by 2031 and 15 million tons per annum by 2050. (Writing by P Deol; Editing by Anoop Menon)
Trade Arabia
4 days ago
- Business
- Trade Arabia
AD Ports, key firms eye e-methanol bunkering facility in Kezad
AD Ports Group, a leading facilitator of global trade, logistics, and industry, has signed a collaboration agreement with Masdar, Advario and the CMA CGM Group to explore the feasibility for the development of a state-of-the-art e-methanol bunkering and export facility at Khalifa Port and Khalifa Economic Zones Abu Dhabi – Kezad Group. The project will provide critical infrastructure to complete the supply value chain and bridge commercial e-methanol production with key off-takers, such as CMA CGM, in support of accelerating the decarbonisation of the global shipping industry. The agreement also reinforces the UAE-France strategic partnership, fostered through the High-Level Business Council held annually between both countries, further leveraging mobilisation of the private sectors to deliver sustainable economic development and partnerships. Saif Al Mazrouei, Chief Executive Officer- Ports Cluster, AD Ports Group, said: 'The signing of this agreement marks an important milestone in our journey towards creating a more sustainable and environmentally responsible maritime industry. The development of an e-methanol bunkering and export facility in Khalifa Port will not only support the growth of the shipping industry, but also contribute to the reduction of carbon emissions and the promotion of clean energy sources. We are proud of this partnership with distinguished corporations, and are confident to make a positive impact on the environment and the economy." Dr Faye Al Hersh, Head of Green Hydrogen Business Development (UAE), Masdar, said: 'Green hydrogen and its derivatives, such as e-methanol, are pivotal in decarbonising hard-to-abate sectors like shipping, helping drive the global shift toward net zero. With over 80 percent of global trade transported by sea, fostering strategic partnerships is essential to establishing robust green hydrogen value chains and ensuring a more sustainable maritime industry. E-methanol has the potential to revolutionise the shipping sector by offering a viable pathway to significantly cut emissions. By collaborating with AD Ports Group, Advario and CMA CGM, we are strengthening the UAE's position as a leader in sustainable innovation and making meaningful strides towards a cleaner, greener future.' Bas Verkooijen, Advario CEO, said: "At Advario, we are committed to supporting the energy transition through innovation and collaboration. We are pleased to be partnering with Masdar, AD Ports Group, and CMA CGM to assess the feasibility of developing innovative solutions that will drive long-term, sustainable progress for the maritime industry. 'This partnership not only strengthens our position in the UAE's chemicals and new energy sectors, but it also underlines our commitment to working alongside our customers and partners to accelerate the decarbonisation of critical industries." Christine Cabau Woehrel, Executive Vice President for Assets and Operations, CMA CGM Group, said: 'At CMA CGM, we are accelerating the decarbonation of shipping by investing in low-carbon solutions, with a fleet of more than 153 vessels capable of using low-carbon energies and synthetic fuels such as e-methanol operational by 2029. This collaboration marks a key milestone in developing the necessary infrastructure to scale up sustainable fuels, which are strategic for our industry's energy transition.' The collaboration agreement follows a memorandum of understanding signed in 2023 between AD Ports Group and Masdar to explore the development of a green hydrogen hub within KEZAD. Last year, Masdar also signed a strategic supply partnership with CMA CGM to assess the long-term provision of green maritime fuels for the company's fleet.
Trade Arabia
4 days ago
- Business
- Trade Arabia
AD Ports, key firms eyes e-methanol bunkering facility in Kezad
AD Ports Group, a leading facilitator of global trade, logistics, and industry, has signed a collaboration agreement with Masdar, Advario and the CMA CGM Group to explore the feasibility for the development of a state-of-the-art e-methanol bunkering and export facility at Khalifa Port and Khalifa Economic Zones Abu Dhabi – Kezad Group. The project will provide critical infrastructure to complete the supply value chain and bridge commercial e-methanol production with key off-takers, such as CMA CGM, in support of accelerating the decarbonisation of the global shipping industry. The agreement also reinforces the UAE-France strategic partnership, fostered through the High-Level Business Council held annually between both countries, further leveraging mobilisation of the private sectors to deliver sustainable economic development and partnerships. Saif Al Mazrouei, Chief Executive Officer- Ports Cluster, AD Ports Group, said: 'The signing of this agreement marks an important milestone in our journey towards creating a more sustainable and environmentally responsible maritime industry. The development of an e-methanol bunkering and export facility in Khalifa Port will not only support the growth of the shipping industry, but also contribute to the reduction of carbon emissions and the promotion of clean energy sources. We are proud of this partnership with distinguished corporations, and are confident to make a positive impact on the environment and the economy." Dr Faye Al Hersh, Head of Green Hydrogen Business Development (UAE), Masdar, said: 'Green hydrogen and its derivatives, such as e-methanol, are pivotal in decarbonising hard-to-abate sectors like shipping, helping drive the global shift toward net zero. With over 80 percent of global trade transported by sea, fostering strategic partnerships is essential to establishing robust green hydrogen value chains and ensuring a more sustainable maritime industry. E-methanol has the potential to revolutionise the shipping sector by offering a viable pathway to significantly cut emissions. By collaborating with AD Ports Group, Advario and CMA CGM, we are strengthening the UAE's position as a leader in sustainable innovation and making meaningful strides towards a cleaner, greener future.' Bas Verkooijen, Advario CEO, said: "At Advario, we are committed to supporting the energy transition through innovation and collaboration. We are pleased to be partnering with Masdar, AD Ports Group, and CMA CGM to assess the feasibility of developing innovative solutions that will drive long-term, sustainable progress for the maritime industry. 'This partnership not only strengthens our position in the UAE's chemicals and new energy sectors, but it also underlines our commitment to working alongside our customers and partners to accelerate the decarbonisation of critical industries." Christine Cabau Woehrel, Executive Vice President for Assets and Operations, CMA CGM Group, said: 'At CMA CGM, we are accelerating the decarbonation of shipping by investing in low-carbon solutions, with a fleet of more than 153 vessels capable of using low-carbon energies and synthetic fuels such as e-methanol operational by 2029. This collaboration marks a key milestone in developing the necessary infrastructure to scale up sustainable fuels, which are strategic for our industry's energy transition.' The collaboration agreement follows a memorandum of understanding signed in 2023 between AD Ports Group and Masdar to explore the development of a green hydrogen hub within KEZAD. Last year, Masdar also signed a strategic supply partnership with CMA CGM to assess the long-term provision of green maritime fuels for the company's fleet.
BBC News
29-05-2025
- Business
- BBC News
US green energy braces for federal funding cuts
US green fuel company HIF Global has a big vision for Texas's Matagorda County: a $7bn (£5.2bn) commercial scale e-methanol factory to supply the world plant, which it claims would be the largest to date anywhere, would make e-methanol from captured carbon dioxide and green hydrogen produced on site using renewable construction would create thousands of jobs and the product would power ships and planes in a far cleaner the company has yet to make its final investment decision. It is waiting to see what the Republican-led Congress does to clean energy tax credits, in particular the one for clean hydrogen fate of the subsidies is part of a sweeping budget bill currently under consideration by the Senate.A version of the legislation passed by the lower house cuts the hydrogen tax credit, amongst others, and scales back clean hydrogen tax credit would help reduce the cost of the American technology going into the facility, and aide in competing with Chinese e-methanol producers, says Lee Beck, HIF Global's senior vice president for global policy and commercial strategy."The goal is not to be dependent on tax credits over the long run, but to get the project started."Ms Beck can't say yet what the outcome for the Matagorda facility will be if the tax credit is ultimately killed, except that it will make things hard – and the US isn't the only location the company operates in. The Trump administration has been particularly hostile to green the President's actions since taking office in January include initiating the US's withdrawal from the Paris climate agreement and temporarily suspending renewable energy projects on federal lands (he has a particular disdain for wind power).Trump has also directed agencies to pause Green New Deal funds, which he regularly calls "Green New Scam" funds: grants and loans being made under the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA), enacted under Biden's presidency in 2021 and 2022 grants and loans, together with the clean energy tax credits that are also part of the IRA, have been funnelling billions of new federal and private dollars into developing clean energy. "It is tumultuous time," says Adie Tomer, of the Brookings Institution, a think tank. "We are doing the exact opposite of our developed world peers."Court battles are ongoing over the President's order to pause green funding, which might ultimately end up in the Supreme Court. In the meantime, agencies are conducting their own reviews and making their own decisions. Jessie Stolark, executive director of the Carbon Capture Coalition, which represents companies involved in carbon capture and storage, laments the lack of clarity from the she explains, have won project funding under the IIJA – including, for example, to build direct air capture facilities. But while projects generally have been able to access funds already awarded to earlier phases, it is unclear if they will be able to progress to additional phases where additional funds are supposed to be made available."It is causing uncertainty, which is really bad for project deployment," says Ms Stolark. "If you endanger the success of these first-of-a-kind projects it just takes the wind out of the sails of the whole [carbon management] industry long term." Meanwhile, the fate of the IRA, which the Congress has the power to amend or repeal along with the IIJA, is being decided, in part, by the budget bill, which aims to permanently extend President Trump's first term tax cuts by making savings exactly will remain of the Federal green energy agenda when both the House and Senate agree a compromise version remains to be seems likely the IRA's tax credits, which are generally scheduled to expire at the end of 2032, though some extend beyond that date, will take a heavy hit, even if the IRA dodges the bullet of outright marked for termination include the tax credits for consumers buying EVs and making their homes more others, such as those for producing clean electricity and manufacturing clean energy components like wind turbine parts, solar panels and batteries, would be phased out earlier or made harder and less worthwhile to many of the projects set to benefit from the tax credits are in Republican areas seems to have had little sway in the House, notes Ashur Nissan of policy advice firm Kaya critics say that the Biden green energy initiatives are too IRA's energy tax credits are "multiple times" larger than initial estimates, and expose American taxpayers to "potentially unlimited liability" noted a recent report from the libertarian Cato Institute advocating their full repeal. Meanwhile, actual clean energy investment in the US including from both government and private sources (the far larger share) dropped 3.8% in the first quarter of 2025 to $67.3bn, a second quarterly decline, according to new figures released by the Clean Investment Monitor."Momentum is sagging a bit which is a little concerning," says Hannah Hess of the Rhodium Group research firm, which partners with the Massachusetts Institute of Technology to produce it. She attributes the trend to a mix of high inflation, high interest rates, global supply chain issues and uncertainty in the policy environment created by the new was also, she observes, a record number of clean energy manufacturing projects cancelled in the first quarter of 2025 – six projects mostly in batteries and representing $6.9bn in investment– though it is difficult to say to what extent the new administration was a worrying to Ms Hess is the decline since the last quarter in announcements for some types of new projects, which she believes can be "more strongly" attributed to the policy situation, with companies lacking confidence there will be demand for the clean products their projects would produce. Tariffs, which will increase factory construction costs if components need to be imported, are an extra factor that may negatively influence project decisions going forward, notes Anthony DeOrsey of the Cleantech Group research and consulting aside, companies are also making shifts in how they market their homepage of LanzaJet – which produces Sustainable Aviation Fuel (SAF) from ethanol – used to emphasise how scaling SAF could "meet the urgent moment of climate change". It now focusses on its potential to "harness the energy of locally produced feedstocks".SAF has never been about just one thing, notes CEO Jimmy Samartzis. Tailoring messaging to be "relevant to the stakeholders we are engaging with" makes company is current waiting on a $3m grant it was awarded by the Federal Aviation Authority last August as part of a nearly $300m program designed to help aviation transition to SAF and which was funded under the IRA."It is approved funding, but it is stuck at this point," says Mr Samartzis.
Yahoo
28-05-2025
- Business
- Yahoo
European Energy A/S: Q1 2025 report
Company announcement 8/2025 (28.05.2025) European Energy announces its financial report for the first quarter of 2025. Highlights: Q1 2025 EBITDA: European Energy delivered a solid result with a Q1 2025 EBITDA reaching EUR 45.9m, an increase of EUR 49.6m compared with Q1 2024, mainly as a result of more sales of energy parks and ready to build (RTB) projects. Solid project divestments: in Q1 2025, European Energy divested energy parks and projects totaling EUR 165.6m (Q1 2024: EUR 4.2m). The total capacity of divested solar energy parks amounted to 1.169 MW (Q1 2024: 0MW), of which 956 MW was a RTB project in the US and 213 MW was a forward sale in Denmark. Gross profit from the sale of energy parks and projects totalled EUR 48.9m (Q1 2024: EUR -7.9m), reflecting solid sales margins. Power production and sales: The total power production in Q1 2025 yielded 496 GWh, a decrease of 59 GWh or 11% compared to Q1 2024. Gross profit from sale of energy in Q1 2025 amounted to EUR 15.6m, a decrease of 11% compared to Q1 2024, mainly as the result of the beforementioned lower production. Power to X (PtX) projects progressing well: European Energy's Kassø e-methanol facility in Denmark continued the production preparations during the first quarter. In April, the Kassø facility produced industry-grade e-methanol for the first time and was certified as producing e-methanol under the EU's new sustainability framework for renewable fuels (ISCC EURFNBO standard). On May 13th, the facility was officially inaugurated and is now supplying e-methanol to A P Moller-Maersk, Novo Nordisk and the Lego group as offtakers. Comfortable funding status: European Energy ended Q1 2025 with a unrestricted cash position of EUR 189m and undrawn committed revolving credit facilities of EUR 93m leaving European Energy comfortably funded. 2025 financial outlook: On 28 February 2025, the Group announced its financial outlook for 2025 with EBITDA expected in the range of EUR 200-300m for 2025. We maintain this expectation as our Q1 2025 EBITDA was in line with own expectations and plans for the remaining year supports this target. For further information, please contact Investor Relations: This announcement has been made in accordance with the market abuse regulation (regulation (EU) no. 596/2014 on market abuse). Attachment Interim report Q1 2025
