Value Group, a pioneer of scrubbers and latterly carbon capture tech, has welcomed Shell Ventures as its newest investor. Shell Ventures is the corporate venture capital arm of energy giant Shell.
Value Maritime is the developer and installer of Filtree, one of the first commercially viable hybrid CO2 capture and exhaust gas cleaning systems, which shipowners and operators can lease to help them lower their emissions.
With Shell Ventures’ support, Value Group said today it aims to accelerate its strategy throughout the maritime value chain, including the expansion of CO2 offtake and monetisation of opportunities globally.
“Both parties believe strong partnerships between companies, governments, customers, and industries are needed to unlock the potential of carbon capture, utilisation and storage to reduce emissions in the maritime industry,” a release from Value Group stated.
Shell Ventures’ chief investment officer Robert Linck commented: “Shipping is a notoriously hard-to-abate sector where volumes have doubled over the last couple of decades and the upward trend is expected to continue. Value Group’s promising solution is one of the first on the market that provides the maritime industry with a viable solution for carbon capture today.”
Scrubbers.
Carbon capture.
These two “technological breakthroughs” are alike in being unproven, and in simply moving the mess we make from one place to another and trying to hide it.
Shell look to have been guided in making this investment by their PR staff, not their scientific staff.