STOCK TITAN

Alfa Laval starts testing new fuels to support the transition towards more sustainable shipping

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

Alfa Laval, a leader in heat transfer and marine technologies, announced it will begin testing biofuels and methanol at its Test & Training Centre in Denmark. This initiative aligns with the International Maritime Organization's goal to reduce greenhouse gas emissions from vessels by 50% by 2050. The testing phase, set to start this spring, aims to enhance understanding of the impact of these fuels on marine equipment. With ships having a lifespan of over 20 years, zero-emission vessels must enter circulation by 2030 to meet targets. Alfa Laval generated SEK 41.5 billion in sales in 2020.

Positive
  • Alfa Laval's initiative aligns with IMO's goal for 50% reduction in vessel-related greenhouse gas emissions by 2050.
  • Testing biofuels and methanol can enhance operational efficiency and support the transition to sustainable shipping.
  • The company has a robust sales figure of SEK 41.5 billion in 2020, reflecting strong market performance.
Negative
  • None.

LUND, Sweden, March 8, 2021 /PRNewswire/ -- Alfa Laval - a world leader in heat transfer, centrifugal separation and fluid handling - will soon start testing two new types of marine fuels; biofuels (made from waste) and methanol, in its Test & Training Centre in Denmark. To make these non-carbon fuels commercially viable can have a big impact on the marine industry in its strive towards zero carbon shipping.

The International Maritime Organization (IMO) targets a 50 percent reduction of vessel-related greenhouse gas emissions by 2050. To achieve the long-term target of decarbonization, the industry must shift to new fuel types and technologies. The Alfa Laval Test & Training Centre in Aalborg, Denmark is taking a key role in testing new types of fuels to adapt and develop equipment for the vessels' engine rooms and support the industry's journey towards decarbonization. The 2800 m2 testing space - already equipped for today's oil and gas fuels - has been readied for testing biofuels and methanol. The tests will begin during the spring.

"A number of fuel pathways are on the table in the transition towards zero carbon shipping but the knowledge about their impact on marine equipment solutions is limited. We want to extend that knowledge through testing," says Sameer Kalra, President of the Marine Division. "It is our ambition to develop viable technology solutions in cooperation with other marine players, so that our customers can achieve their climate goals irrespective of the selected fuel pathway."

Since ships have a lifetime of 20 years or more, zero-emission vessels must begin entering the global fleet by 2030 for a 50 percent reduction to be achieved by 2050. It is predicted that in 2023 the world's first carbon neutral liner vessel will be launched and that methanol-fuelled vessel will be ready for delivery in two years' time.

Did you know that… methanol enables the lowest greenhouse impact of any available liquid fuel, while biofuel is more of a challenge as it is produced from many different sources and therefore need thorough testing to secure safe operation?

This is Alfa Laval 

Alfa Laval is active in the areas of Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress - always going the extra mile to support customers in achieving their business goals and sustainability targets.

Alfa Laval's innovative technologies are dedicated to purifying, refining, and reusing materials, promoting more responsible use of natural resources. They contribute to improved energy efficiency and heat recovery, better water treatment, and reduced emissions. Thereby, Alfa Laval is not only accelerating success for its customers, but also for people and the planet. Making the world better, every day.

Alfa Laval has 16,700 employees. Annual sales in 2020 were SEK 41.5 billion (approx. EUR 4 billion). The company is listed on Nasdaq OMX.

To learn more about the Alfa Laval Test & Training Centre and Alfa Laval's approach to new marine fuels, please visit: www.alfalaval.com/marine

www.alfalaval.com

For more information please contact:
Johan Lundin                                                              
Head of Investor Relations                                         
Alfa Laval                                                                    
Tel: +46 46 36 65 10                                                  
Mobile: +46 730 46 30 90                                           

Eva Schiller
PR Manager
Alfa Laval
Tel: + 46 46 36 71 01
Mobile: +46 709 38 71 01

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/alfa-laval/r/alfa-laval-starts-testing-new-fuels-to-support-the-transition-towards-more-sustainable-shipping,c3301666

The following files are available for download:

https://mb.cision.com/Main/905/3301666/1383514.pdf

Release

 

 

Cision View original content:http://www.prnewswire.com/news-releases/alfa-laval-starts-testing-new-fuels-to-support-the-transition-towards-more-sustainable-shipping-301242166.html

SOURCE Alfa Laval

FAQ

When will Alfa Laval start testing new marine fuels?

Alfa Laval will start testing biofuels and methanol in spring 2021.

What is the goal of testing new fuels at Alfa Laval's Test & Training Centre?

The goal is to support the marine industry's transition towards zero carbon shipping.

What are the emissions reduction targets set by the International Maritime Organization?

The IMO targets a 50% reduction of vessel-related greenhouse gas emissions by 2050.

What were Alfa Laval's annual sales in 2020?

Alfa Laval reported annual sales of SEK 41.5 billion in 2020.

How long do ships typically remain in service?

Ships typically have a lifetime of 20 years or more.

ALFA-LAVAL AB UNSP/ADR

OTC:ALFVY

ALFVY Rankings

ALFVY Latest News

ALFVY Stock Data

17.58B
413.33M
0.01%
Specialty Industrial Machinery
Industrials
Link
United States of America
Lund