GoodFuels joins LSB as interest in advanced biofuels grows in maritime sector

Outlook & Strategy

May 2, 2022, by Ajsa Habibic

Dutch GoodFuels has joined the advanced biofuels coalition LSB, a coalition of biofuels technology developers and producers committed to decarbonising the shipping sector.

The coalition represents eleven companies from eight countries and supports the EU target for climate neutrality by 2050 and the need for more ambitious 2030 intermediate targets.

GoodFuels has become a new member of the LSB coalition as interest in advanced biofuels rapidly grows in the maritime sector, the coalition said.

Commenting on the move, Marko Janhunen, chair of Advanced Biofuels Coalition and Public Affairs director at UPM, said: “GoodFuels is a great fit for the Advanced Biofuels Coalition and illustrates the need for advanced biofuels in all transport modes. Advanced biofuels are increasingly becoming more and more attractive in the maritime sector and our coalition requests EU institutions to shape the Fit for 55 policies in a way that creates further investment opportunities in the sector.”

“GoodFuels is working with clients around the world who are committed to reducing emissions in shipping. We are excited to join the Advanced Biofuels Coalition to promote the use of advanced biofuels in the maritime sector and to provide information to stakeholders on the role of sustainable fuels in shipping”, stated Rianne de Vries, Public Affairs lead at GoodFuels.

Advanced biofuels are made from wastes and residues as defined in Renewable Energy Directive Annex IX Part A. They are said to be a sustainable solution to reduce emissions in transport, including also harder to decarbonise transport modes such as sustainable aviation fuels, maritime transport, and heavy-duty transport.

In October 2021, GoodFuels entered into a long-term agreement with the U.S. producer and supplier of renewable fuels Renewable Energy Group (REG) for the supply and development of sustainable marine biofuel solutions for the global shipping industry.

The agreement was viewed as a reinforcement for GoodFuels’ mission to become the favoured green fuel supplier for all shipping segments, and its ambition to scale up the production of advanced marine biofuels in the right way using sustainable feedstocks.