Maersk, Novozymes to participate in research for ship fuels, biochemicals

Dec 21, 2011 - Several companies, among which Danish industrial enzymes maker Novozymes A/S (CPH:NZYM B) and oil and shipping group AP Moller-Maersk A/S (CPH:MAESK B), have entered a five-year co-operation agreement on the development of alternative ship fuels and biochemicals.

The project has a budget of DKK 112 million (USD 19.8m/EUR 15.1m), half of which is financed by the Danish National Advanced Technology Foundation, it said on Monday.

The other partners are Danish catalyst and technology firm Haldor Topsoe, utility Dong Energy A/S, marine engine maker MAN Diesel & Turbo, part of German industrial group MAN SE (ETR:MAN), Copenhagen University and the Danish Technical University.

The solutions will be tested on a large scale on engines by MAN Diesel & Turbo and ships owned by Maersk.

The partners will work with biology and technology in the intersection between biomass, biofuels and chemicals and their practical use in shipping.

(DKK 1.0 = USD 0.177/EUR 0.134)

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