RCS - i(x) Net Zero PLC - WasteFuel Announces Landmark Agreement with Maersk

I (X) Net ZeroAnnouncement

11/03/2022 07:00

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RNS Number : 4270E  i(x) Net Zero PLC  11 March 2022

i(x) Net Zero PLC

("i(x) Net Zero" or the "Company")

Portfolio Company WasteFuel Announces Landmark Agreement with Maersk

i(x) Net Zero PLC (AIM: IX.), the investing company which focuses on Energy
Transition and Sustainability in the Built Environment, is pleased to
announce that its portfolio company, WasteFuel, has embarked upon a
commercial-scale bio-methanol partnership with A.P. Moller - Maersk
("Maersk"), the global container logistics company.

 

Maersk intends to buy a minimum of 30,000 tons per year of WasteFuel's green
bio-methanol, which is generated from municipal waste, to fulfil the demand of
Maersk's 12 new green methanol powered ships planned to be operational by
2024.

 

The full announcement can be found here:
https://www.wastefuel.com/maersk-wastefuel-announce-green-methanol-agreement
(https://www.wastefuel.com/maersk-wastefuel-announce-green-methanol-agreement)

 

Pär Lindström, Chief Investment Officer of i(x) Net Zero and WasteFuel
Director, said: "This is an extremely exciting milestone for our portfolio
company, WasteFuel, which is making a tangible impact on climate change
through the production of sustainable fuels from municipal and agricultural
waste. WasteFuel continues to successfully pursue its strategy through
deepening its partnership with Maersk, which last year announced the
acquisition of a minority stake in WasteFuel through its venture arm Maersk
Growth."

 

Trevor Neilson, Co-Founder, Chairman, and CEO of WasteFuel, added: "Last year,
many of the world's largest companies including Amazon, Ikea, Apple, Nestle
and Patagonia pledged to reach net-zero emissions by 2050. Ships transport up
to 90% of globally traded goods by volume and produce nearly 1.1 billion tons
of carbon dioxide emissions. Without green fuel solutions, corporate net-zero
commitments will be impossible to meet."

 

WasteFuel is part of a small group of six highly regarded companies, including
CIMC ENRIC, European Energy, Green Technology Bank, Proman, and Ørsted, from
which Maersk will source its sustainable fuel.

 

- Ends -

 

 

For further information visit https://ixnetzero.com/ (https://ixnetzero.com/)
 or contact:

 i(x) Net Zero                               Via Buchanan below
 Steve Oyer - Chief Executive Officer
 Pär Lindström - Chief Investment Officer
 Marc Chennault - Chief Financial Officer

 H & P Advisory Limited                      +44 20 7907 8500

 Financial Adviser & Joint Broker
 Neil Passmore
 Ernest Bell
 Andy Crispin (Sales)

 Shore Capital                               +44 20 7408 4050

 Nominated Adviser & Joint Broker
 Tom Griffiths
 David Coaten

 Iain Sexton

 Buchanan
 Helen Tarbet                                +44 7872 604 453
 Simon Compton                               +44 7979 497 324
 Ariadna Peretz                              +44 7488 495 969

 

 

Notes to Editors

About i(x) Net Zero PLC

i(x) Net Zero PLC is an AIM quoted investing company that provides its
shareholders the opportunity to create long-term capital growth with
positive, scalable, measurable and sustainable impact on the environment and
on the communities it serves.

In accordance with its belief that the world's biggest problems are also the
biggest market opportunities, i(x) Net Zero focuses on two critical areas in
which it aims to make a positive impact: (i) Energy Transition and (ii)
Sustainability in the Built Environment. The Company uses a multi-strategy
investment approach, providing the companies in which it invests with the
expertise and catalytic capital to help them grow. To date, i(x) Net Zero has
invested in biofuels, direct air capture (carbon removal), renewable energy,
sustainable workforce housing and net zero construction technology.

i(x) Net Zero is a provisional signatory to the UN Principles for Responsible
Investing. The Company has received the London Stock Exchange's Green Economy
Mark.

About WasteFuel

 

WasteFuel produces renewable fuels using proven technologies to address the
climate emergency and revolutionize mobility. WasteFuel converts municipal
(trash) and agricultural waste into low-carbon fuels such as renewable natural
gas and green methanol.

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