BUNNIK, Netherlands, Feb. 6, 2019 /PRNewswire/ --
Nordsol, the BioLNG production and technology company, has brought Shell Ventures on as strategic investor to support its mission to enable the energy transition by making BioLNG mainstream. Nordsol uses biogas from organic waste streams to produce BioLNG, or liquified biomethane. With its unique technology, Nordsol offers a cost competitive solution for the long-haul, heavy duty transport sector with a pathway to net zero emissions.
Nordsol's new business concept combines its smart and patented BioLNG technology with long term BioLNG offtake agreements with key LNG traders, offering a new and solid monetization route for biogas producers. The Shell Ventures minority investment will help fund Nordsol's expansion from technology company into the full business concept of building, owning, operating and maintaining BioLNG plants together with biogas production partners. In addition to the benefits of BioLNG, the Nordsol process separates Bio CO2 for supply to consumers, resulting in a significantly reduced CO2 footprint.
"The Nordsol/Shell partnership offers a unique end-to-end BioLNG solution for biogas producers," says Mattijs Slee, Shell Ventures Investment Principal. "The Shell Ventures investment will help to scale the technology and build a material business with impact. Nordsol and Shell want to play a leading role towards a zero-emission transport market and this partnership could provide a breakthrough solution."
"Our BioLNG proposition, based on smart, integrated technologies and a guaranteed BioLNG offtake, will provide a clean and valuable alternative for waste management. With Shell Ventures as our partner, we will combine our resources to make BioLNG mainstream," said Jerom van Roosmalen, founding partner at Nordsol. "It is the combination between Shell Ventures and Nordsol that will help enable LNG as the future energy source for the heavy transport sector. We look forward to a healthy cooperation."
BioLNG has significant environmental advantages versus diesel and other available biofuels, making it the fuel of choice for long-haul, heavy duty transport. It has reduced CO2, NOx, particulate matter and engine sound emissions, and the Nordsol technology creates a pathway to net zero emissions immediately with BioLNG as a 100% substitute to LNG. The growing LNG fueling station network and fleets of LNG powered trucks and ships create higher value market for biogas than production of power or grid feed-in that is the norm today.
Nordsol is aiming for partnerships with existing biogas producers to rollout the BioLNG facility network in Europe.
- With renewable power, BioLNG is practically CO2 neutral due to the use of industrial organic waste as a resource. In addition, Nordsol captures the biogenic process CO2 for use to displace industrial use of CO2 produced by burning natural gas, which makes the BioLNG carbon emission negative. With the Nordsol BioLNG solution, the function of biogas is upgraded to the next level of decarbonization, supporting a more environmentally friendly form of LNG along with a reduction of our carbon footprint. It will help to reduce well-to-wheel greenhouse gas emissions and so provide economic and environmental benefits for truck owners and operators.
- The unique Nordsol technology, branded as iLNG, simplifies the conventional production methods into a less complex process scheme, making the process for the scale of biogas economically viable.
About Nordsol
Nordsol is a Netherlands based end-to-end BioLNG solutions company. Nordsol aims to significantly reduce the fuel industry's carbon footprint. With the goal of producing 25,000 tons of BioLNG by 2023, the company wants to make BioLNG a product that is widely available at an affordable price. With the concept of building, owning, operating and maintaining BioLNG facilities, Nordsol will bridge the gap between the waste management and the transport fuel market. www.nordsol.com
About Shell Ventures
Shell Ventures is the corporate venture capital arm of Royal Dutch Shell plc ("Shell"). Continuing Shell's tradition in venture capital since 1997, Shell Venture's investment focus covers the full energy spectrum from O&G to renewable energy technologies and digital solutions. We are a strategic investor seeking technology companies and business models with energy solutions that can create substantial deployment value. Shell Ventures co-invests with other corporate investors and venture capital funds in both early stage and late stage (growth capital) companies, generally investing $2M-$20M over the life cycle of the deal. For more information go to http://www.shell.com/shell-ventures.
