MarineFifty backs Kvasir with funds for commercial biofuel scale-up

Investment firm MarineFifty plans to invest up to €11 million (around $12.5 million) in Danish biofuel company Kvasir Technologies to support the commercial scale-up of its drop-in biofuel production technology.

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The proposed investment follows Kvasir's initial funding round announced in June. Subject to final agreements, the funding will help the company transition from operating its demonstration plant to reaching a Final Investment Decision (FID) for its first commercial-scale production facility.

Kvasir has developed a technology that converts abundant, non-edible biomass into a bio-oil that can be used as a drop-in substitute for fossil-based HFO in existing ship engines. By allowing shipowners to switch fuels without modifying their engines, the technology offers a practical and scalable route to reducing emissions from the maritime sector, according to MarineFifty.

Beyond financial backing, MarineFifty said it aims to support the commercial deployment of the technologies, fuels and infrastructure needed to accelerate shipping's transition toward net zero.

By Tuhin Roy

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