Bunker Holding and NeoGreen Hydrogen Corp sign green ammonia and synthetic fuels MOU
Bunker Holding and NeoGreen Hydrogen Corp. announce the signing of a Memorandum of Understanding to collaborate on the operations, logistics, and marketing of green ammonia and synthetic fuels across NeoGreen’s global project portfolio.
With the EU’s FuelEU Maritime regulations due to enter into force in 2025 and the expectation of new IMO regulations in 2027, pressure is building on the shipping industry to prepare for a low-carbon future, with ammonia and e-methanol being two of the most likely future fuels for the industry.
Valerie Ahrens, Senior Director of New Fuels and Carbon Markets at Bunker Holding, says:
“Legislation is driving the necessity for our clients to have reliable access to alternative fuels, while there remains considerable uncertainty about the sources of supply. We are very pleased to apply our extensive sector expertise to assist with the unlocking of value from NeoGreen’s global pipeline of projects by facilitating the operations and logistics necessary to bring their products to market.”
Rory Harding, Head of Corporate Development at NeoGreen, comments:
“We are delighted to have entered into this relationship with Bunker Holding. NeoGreen’s strategy is to develop projects in geographies which offer access to the cheapest renewable electricity resources, as this has a dominant influence on the levelised cost of green hydrogen-based products. Our collaboration with Bunker Holding will ensure we benefit from their vast experience in operations, logistics, storage, and delivery of these maritime fuels to consumers. Bunker Holding will also be able to support NeoGreen in access to offtakers through its very significant existing client base across the global shipping industry.”
Both parties believe that overcoming logistical and delivery challenges is key to assuring long-term offtake of new, environmentally friendly fuels and will cooperate across NeoGreen’s portfolio to optimise these operations, while Bunker Holding will also support in the marketing of NeoGreen’s products to its global client base.