Thanks to the shipping line's support, Vertoro will open a demo plant in 2022, using liquid lignin as a platform for producing fuel, chemicals, and other materials.

Utilising a patented thermochemical process, the Dutch 2017-founded company produces liquid lignin from sustainably sourced forestry and agricultural residues.

The latest investment follows Maersk Growth's venture into Waste Fuel, a start-up producing aviation fuel, green bio-methanol and renewable natural gas from waste, and Prometheus that makes carbon-neutral electro fuels.

Maersk has also recently ordered eight ships, each 16,000 TEUs, to run on methanol (with an option to add four more).

Photo: Ezinne Achivinu/North Carolina State University