Prime Infrastructure Holdings Inc. (Prime Infra) on Friday welcomed the investment of Maersk in US-based WasteFuel Global as the container shipping firm commits to decarbonize its fleet.
Prime Infra, the infrastructure arm of the Razon Group, is a shareholder and has been part of WasteFuel since February.
“Prime Infra is incredibly pleased to have Maersk join WasteFuel Global. Maersk adds to the line-up of impactful shareholders working towards a greener and cleaner future of mobility,” said Prime Infra president Guillaume Lucci, also a member of WasteFuel board, in a statement.
Prima Infra said Maersk’s investment would help WasteFuel develop bio-refineries that turn waste into low-carbon sustainable fuels.
Prime Infra will put up a bio-refinery plant in Luzon that is expected to be operational by 2025. The plant will convert municipal waste into green fuels, including aviation fuel.