Singapore-based BW Group is taking a deep dive into organic waste with an €20m ($23.5m) investment in Finnish-Swiss Ductor Corp.
The funding announced today by Ductor and by sole adviser Fearnley Securities makes the Sohmen-Pao controlled BW Group a major shareholder in Ductor, as well as strategic partner. The cash allows the latter to "develop 200 new biogas and sustainable organic fertiliser projects in three years in the EU and North America", said Ductor in an announcement.
Ductor develops technology for fermenting waste.
BW Group executive Andreas Beroutsos will be the shipowner's man on the Ductor board.
Ductor said the new projects funded by BW Group's investment will make renewable biogas and sustainable organic fertiliser from agricultural or fish waste at plants in Germany, Poland, France, Spain, Norway, the US and elsewhere.
"This circular economy model will help significantly reduce greenhouse gas emissions from both the energy and agriculture sectors," said Ductor in the announcement.
Ductor is a young company but one in a hurry to grow, with some 75 projects now in the works after opening its first facility in Mexico during the past year.
"Ductor’s fermentation technology converts agricultural waste, such as chicken manure, into efficient organic fertiliser for large-scale farming and biogas in the form of biomethane to replace fossil fuel energy," said the company.
Besides the commercial value of the products extracted (including whatever ship cargoes these might provide), the gains to the environment include healthier soils and less polluted waters.
“Our job is to help nature do its job better by transforming organic waste into carbon-negative fertilisers and renewable energy,” said Ductor chairman Ari Mokko.
Beroutsos said in a statement provided by Ductor that BW Group has already made investments relevant to "the energy transition" in batteries, renewables, water treatment, and "other technologies to address global challenges".
"Ductor has a unique solution producing two valuable outputs from waste: biofuels and organic fertilisers," Beroutsos said.
"We are delighted to be partnering with Ari Mokko, Ductor’s visionary founder, his team and their existing investors to help Ductor grow and make a positive contribution to resolving some of today’s environmental, energy, land and food challenges."
No information was immediately available on specifics of the strategic partnership between BW Group and Ductor.
BW Group owns a fleet of around 200 ships directly and through subsidiaries, including gas carriers, crude and product tankers and floaters, and also dry bulk carriers.
