Hong Kong-headquartered Venture Energy Limited, focused on the procurement and trading of clean fuels, and Shanghai Shenji Energy & Environmental Technology have expanded their recently established collaboration to medium- to long-term offtake, green fuel trial bunkering, trading platforms and technical management for marine vessels.
Under the procurement and supply agreement announced earlier this month , Venture Energy will purchase ISCC EU-certified green methanol from Shenji Energy that fully complies with the European Union’s Renewable Energy Directive (RED). The partnership also encompasses full-chain collaboration on biogas feedstock and green-fuel ISCC certificates.
The partners reported today, April 28, that they had signed a strategic cooperation memorandum of understanding (MoU) to upgrade from existing spot trade co-operation to a full-range strategic collaboration.
The collaboration broadens its scope beyond single-fuel supply to integrated supply-chain services, with the focus on the development of a green fuel trading platform, pilot bunkering and the market promotion of green fuels, and collaboration on marine services and ship management.
Greg McMillan , Executive Director of Venture Energy, said: “This strategic collaboration marks an important milestone in Venture Energy’s green fuel supply chain development. Through our partnership with Shenji Energy, we are able to secure a stable supply of green methanol while also establishing an early position across other green fuel pathways. Together, this enables us to offer more comprehensive decarbonisation solutions to shipping customers worldwide.”
McMillan and Zhu Jiaqi, Chairman 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 provider of green energy solutions in China. This strategic alliance with Venture Energy will fully leverage our complementary strengths in industrial resources and commercial operations. Together, we will drive the standardised and large-scale development of China’s green marine fuel industry,” Jiaqi said.