In the UK, Hutanbio said it secured $2.85 million seed investment to fast-track supply of biofuels to global shipping and aviation industries
“Our low carbon fuel – HBx biofuel oil – is a sustainable and scalable high energy density, low carbon, sulphur-free, fuel solution, that uses CO2 greenhouse gas as a feedstock,” the company said.
“Our goal is to support the decarbonization of the hard-to-abate transportation sectors. To decouple the maritime and aviation industries from fossil fuels and remove carbon from our atmosphere,” the firm added.
The funds were provided by the Clean Growth Fund, the firm said.