The H2Global Foundation has signed a memorandum of understanding (MoU) with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping to explore decarbonising the industry. This partnership will bring together the Center’s decarbonisation expertise and market reach with H2Global’s double-sided auction mechanism and public fund mobilisation abilities.
Around 3% of global greenhouse gas emissions are from the shipping industry, and clean hydrogen-based shipping fuels like e-methanol and e-ammonia offer the best way to decarbonise. However, production is stunted due to the lack of long-term demand certainty. Under the MoU, H2Global and the Center will perform feasibility research of double-sided auctions for fuels and energy attribute certificates (EACs); assessing the role of EACs and the book and claim approach in compliance under regulatory frameworks; and contribute to the standardisation of EACs and evaluating the use of existing trading platforms.
Markus Exenberger, Chief Executive Officer for H2Global Foundation commented: “Shipping needs clean fuels, and clean fuel producers need reliable demand. By combining the Center’s deep knowledge of the maritime sector with H2Global’s proven double-sided auction mechanism, we can help create the price signals and offtake certainty that first-of-a-kind projects need.”
Pernille Dahlgaard, Chief Impact Officer of Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, said: “Decarbonising hard-to-abate industries requires innovation in both technology and markets. Effective subsidy instruments can be a critical enabler, accelerating the transition for all. We are pleased to welcome H2Global into our rich ecosystem of partner organisations, and look forward to working together to put these insights into practice, scaling the low-emission fuels the world needs to enable decarbonisation.”
Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping and H2Global Foundation Sign MoU for Industry Decarbonisation
