Sustainability pioneer, Value Group (Value Maritime and Value Carbon) is pleased to announce that Shell Ventures has joined Value Group’s investor base to accelerate and expand its carbon capture utilisation and storage strategy.
Value Maritime is the pioneering 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.
Shell Ventures, the corporate venture capital arm of Shell, supports companies in their early, scale and growth phases, providing investments that stimulate the development of new technologies and disruptive business models to lower emissions and accelerate the energy transition.
Since 2017, Value Maritime has supported multiple shipowners and operators in reducing their emissions with its Filtree System. This unique system cleans sulphur, ultra-fine particulate matter and CO2 from ships’ exhaust emissions as well as oil residue and particulate matter from the vessels’ washing water. As a result, the Filtree System supports both the lowering of CO2 emissions and a reduction of acidification of seawater.
The Filtree System also features an integrated carbon capture feature that allows ships to store the CO2 they collect onboard in dedicated fixed tanks or non-fixed battery containers. These onboard storage facilities are filled with CO2, which can then be sustainably offloaded in port for re-use or storage elsewhere.
Building on this effective business model, Value Maritime earlier this year announced the launch of sister company, Value Carbon. With this, the Value Group expanded its role with a focus on the entire process, from carbon capture to landside utilisation and/or storage.
With Shell Ventures’ support, Value Group 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.
“We are very excited with this new development,” Value Group Co-Founder and Director Maarten Lodewijks said. “Shell Ventures will support us in many ways that will help our strategy moving forward and contribute to our development. The participation of Shell Ventures serves as confirmation that we are on the right path and is a huge compliment for our team.
“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.”
“This investment aligns with Shell’s aim to support the development of solutions that can help industries decarbonise, as part of our focus on delivering more value with less emissions,” Shell Ventures’ Chief Investment Officer Robert Linck said. “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. We are proud to be joining its journey and look forward to supporting the group as it expands its activities with shipowners and operators across the globe to lower emissions.”