SunGas to Build $2 Billion Eco-Station to Power Maersk Ships

US-based company SunGas Renewables is to form a new company entitled 'Beaver Lake Renewable Energy' that is tasked with building a high-tech green methanol production facility to sustainably fuel the ships of Danish shipping giant Maersk Line.

According to industry reports, the US$2 billion facility is expected to produce nearly 400,000 metric tons of green methanol per year.

Maersk has been an early adopter of methanol-fueled vessels which promise to have mitigate harmful impacts on the environment.

SunGas said in a statement that the new facility will utilize wood fiber from local, sustainably-managed forests, adding that the methanol would have a negative carbon intensity through sequestration of nearly a million tons per year of carbon dioxide produced by the project.

Construction of the facility is set to begin in late 2024 with commercial operations commencing in 2027.

Read more: Maersk and SunGas Renewables Sign Strategic Green Methanol Partnership