DFDS is investing in MASH Energy ApS – a start-up company that produces biofuel – and the goal is to develop a commercially viable alternative to fossil fuels and test it on a DFDS ferry.
The biofuel is produced from agricultural waste, currently from the by-products of nut processing in Tanzania and India. A statement explained the biofuel is CO2-neutral and can be used in ships. In addition, the residual product is an effective fertiliser and will also contribute to reduce the CO2 balance.
"We are extremely pleased to add DFDS, a large ferry operator, to the ownership circle which will give opportunities to test the biofuel in engines and verify that our product is indeed of the quality and price necessary for it to succeed in the shipping industry," said Mash Energy chief executive Jakob Andersen.
The investment comprises Dkr10M (US$1.5M) made in three stages for a 24% ownership share of the company after the final stage.
DFDS head of CSR Sofie Hebeltoft said "The investment is a result of our ambition to take responsibility for the development of commercially viable biofuel that is a real alternative to fossil fuels and thereby reduce the carbon footprint of our ferries. The aim is also to produce sufficient volume to make the biofuel commercially viable and identify other waste products that can be used to produce the biofuel."