BP Backs New Fuel for Ships Made Using Everyday Garbage
- Oil giant invests $10 million, agrees to offtake biomethanol
- Methanol is a contender for replacing oil-derived ship fuels
This article is for subscribers only.
BP Plc is investing in a California-based startup that will use uneaten food and other waste to make low emission fuel.
The oil giant’s corporate venture capital arm, bp ventures, is putting $10 million into WasteFuel, which converts municipal and agricultural waste into sustainable energy, including biomethanol for shipping.