Hong Kong-based Venture Energy Limited, which focuses on clean fuel procurement and trading, and Shanghai Shenji Energy & Environmental Technology have expanded their recently established cooperation to include the medium-to-long-term acquisition, pilot bunkering of green fuels, trading platforms and technical management of offshore vessels.
According to the purchase and supply agreement Announced earlier this monthVenture Energy will purchase EU ISCC-certified green methanol from Shenji Energy that is fully compliant with the EU Renewable Energy Directive (RED). The partnership also includes full-chain collaboration in biogas feedstock and ISCC green fuel certifications.
The partners reported today, April 28, that they have signed a Strategic Cooperation Memorandum of Understanding (MoU) to upgrade from the current immediate commercial cooperation to a full-scale strategic cooperation.
The cooperation expands its scope beyond single fuel supplies to include integrated supply chain services, focusing on developing a green fuel trading platform, pilot refueling and market promotion of green fuels, and cooperation in marine services and ship management.
Greg McMillanVenture Energy CEO said: “This strategic collaboration represents an important milestone in the development of Venture Energy’s green fuel supply chain. Through our partnership with Shenji Energy, we are able to secure a stable supply of green methanol while establishing an early position across other green fuel pathways. Together, this allows us to deliver more comprehensive decarbonization solutions to shipping customers around the world.”
McMillan and Zhou Jiaqi, President of Shenergy Environmental Technology, signed the agreement at Shenergy Group’s headquarters in Shanghai on April 17.
“Shenji Energy is committed to becoming a leading green energy solutions provider in China. This strategic alliance with Venture Energy will fully leverage our complementary strengths in industrial resources and business operations. Together, we will lead the unified and large-scale development of China’s green marine fuel industry.” Jiaqi He said.
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