- WasteFuel last year said it would partner with Averda to develop the waste-to-energy project.
- The project is expected to supply the shipping industry with sustainable bio-methanol to help their transition to alternative fuels.
British multinational oil and gas firm BP plc has led a Series B investment round, with $10 million, in WasteFuel. This California-based biofuels company expects its first project to be in Dubai.
The investment allows WasteFuel to advance its plans to develop its first waste-to-bio-methanol plant in the UAE, said BP on Thursday. The project is expected to supply the shipping industry with sustainable bio-methanol to help their transition to alternative fuels.
WasteFuel last year said it would partner with Averda, a waste management and recycling company, to develop the first commercial-scale municipal waste to renewable methanol plant in the Middle East, which is expected to be in Jebel Ali, Dubai.