BLUE WORLD MARITIME METHANOL FUEL CELL (IEU GT2)

Promoter – Financial Intermediary

BLUE WORLD TECHNOLOGIES APS

Location

• Denmark

Description

The promoter is a Denmark-based company that develops High Temperature Proton Exchange Membrane (HT-PEM) fuel cell technology capable of operating with methanol. The loan will finance its technology research, development, innovation (RDI) and production scaling efforts focusing on HT-PEM fuel cell systems for maritime auxiliary power units (APUs) and propulsion from 2024 to 2027.

Objectives

The aim is to accelerate the decarbonisation of maritime transport by advancing the promoter's HT-PEM and initiating its deployment, which will reduce emissions and therefore deliver significant environmental and economic benefits. The project will also generate positive knowledge spill overs from in-house RDI activities and collaborations. Additionally, it will strengthen the EU competitiveness by addressing investment gaps.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 25 million

Total cost (Approximate amount)

EUR 63 million

Environmental aspects

The project activities do not fall under Annexes I and II of the Environmental Impact Assessment (EIA) Directive2014/52/EU 5amending Directive 2011/92/EU) and are therefore not subject to a mandatory EIA. The activities included in the project scope are not expected to have any relevant environmental impact. The EIB will review these assumptions during the project appraisal to assess any other additional relevant environmental details.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.

Status

Under appraisal