The major Danish shipping company DFDS has invested 10 million DKK in MASH Energy – an innovative Danish start-up that has developed an efficient, low-cost method of producing bio-fuel from various waste products.
DFDS invests in Mash Energy in order to help the further development of a commercially viable alternative to fossil fuels. Their plan is to use the climate-friendly biofuel to propel DFDS vessels in the future.
“We have great confidence in our joint abilities to fulfil the ambitions that are also perfectly in line with DFDS’ ambitions to reduce the carbon footprints of our ships,” says Sofie Hebeltoft, Head of DFDS’ CSR department.
Mash Energy is a member of access2innovation and has previously been testing their technology successfully in India and Tanzania. In the autumn of 2018 they produced more than 15 tonnes of CO2-negative bio-fuel from cashew husks in Tanga.
“We are extremely pleased to add a large ship operator such as DFDS to the ownership circle and that we will thus get the opportunity 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,” says Jakob Andersen, CEO at MASH Energy.
As a start-up company working in a developing world context, Mash Energy has received finance and network support from access2innovation since 2016.
The investment from DFDS proves the enormous potential of innovative Danish startup companies, says access2innovation CEO Jacob Ravn.
“This is yet another great example of research and development work that was originally devised for developing countries, but will have an equally massive impact here as well.”
With the 10 million DKK investment, DFDS acquires an ownership of 24 per cent of Mash Energy.