Value Group has welcomed on board Shell Ventures, the corporate venture capital arm of Shell, as an investor.
Value Group which brings together two sister companies, Value Maritime and Value Carbon, said Shell Ventures provides investments that stimulate the development of new technologies and disruptive business models to lower emissions and accelerate the energy transition.
Shell has jointed the group in order to accelerate and expand its carbon capture utilisation and storage strategy.
Value Maritime, is a developer and installer of one of the first commercially viable hybrid CO2 capture and exhaust gas cleaning systems (Filtree), which shipowners and operators can lease to help them lower their emissions.
With Shell Ventures’ support, Value Group said today it aims to accelerate its strategy throughout the maritime value chain, including the expansion of CO2 offtake and monetisation of opportunities globally.
“Both parties believe strong partnerships between companies, governments, customers, and industries are needed to unlock the potential of CCUS to reduce emissions in the maritime industry,” a release from the Value Group stated.
Shell Ventures’ chief Investment Officer Robert Linck commented: “This investment aligns with Shell’s aim to support the development of solutions that can help industries decarbonize, as part of our focus on delivering more value with less emissions.”
Shell´s chief added that “shipping is a notoriously hard-to-abate sector where volumes have doubled over the last couple of decades and the upward trend is expected to continue. Value Group’s promising solution is one of the first on the market that provides the maritime industry with a viable solution for carbon capture today.”
From his side Value Group co-founder and director Maarten Lodewijks said “We are dedicated to decarbonising shipping across the value chain from sustainable technology, equipment, installation and capturing with our Filtree and Carbon Capture system to reliable offtake and certification. This is an important milestone for our company and we look forward to building on it. Together with our key shareholders like Shell, our partners and clients and in cooperation with governmental and institutional bodies, we can significantly speed up the decarbonisation process.”
