Singapore-based Global Centre for Maritime Decarbonisation (GCMD) is leading a consortium of 18 industry partners in a drop-in biofuels pilot project aimed at establishing an assurance framework for ensuring the supply chain integrity of current and future green marine fuels.
The consortium has allocated $18 million for the project that will help to shape national and international standards of biofuels bunkering and lower the barrier to their wider adoption to reduce greenhouse (GHG) emissions from a lifecycle perspective, said Lynn Loo, CEO of GCMD.
The pilot will commence on 1 August 2022 and is expected to take 12 to 18 months to complete.
As described, the project seeks to establish an industry-wide assurance framework that ensures supply chain transparency of drop-in biofuels whose applicability can be extended to future drop-in fuels, such as bio-LNG, bio-methanol and green ammonia, when they become available in meaningful quantities.