Netherlands-based Value Group, which comprises Value Maritime and Value Carbon, has announced that Shell Ventures has joined Value Group’s investor base to accelerate and expand its carbon capture utilisation and storage (CCUS) strategy.
Value Maritime is the developer and installer of one of the first commercially viable hybrid CO2 capture and exhaust gas cleaning systems (Filtree), which shipowners and operators can lease to help them lower their emissions.
Shell Ventures, the corporate venture capital arm of Shell, supports companies in their early, scale and growth phases, providing investments that stimulate the development of new technologies and disruptive business models to lower emissions and accelerate the energy transition.
Since 2017, Value Maritime has supported shipowners and operators in reducing their emissions with its Filtree System. The system cleans sulphur, ultra-fine particulate matter and CO2 from ships’ exhaust emissions as well as oil residue and particulate matter from the vessels’ washing water. As a result, the Filtree System supports both the lowering of CO2 emissions and a reduction of acidification of seawater.
The Filtree System features an integrated carbon capture feature that allows ships to store the CO2 they collect onboard in dedicated fixed tanks or non-fixed battery containers. These onboard storage facilities are filled with CO2, which can then be sustainably offloaded in port for re-use or storage elsewhere.
Building on this business model, Value Maritime recently announced the launch of sister company, Value Carbon. With this, the Value Group expanded its role with a focus on the entire process, from carbon capture to landside utilisation and/or storage.
With Shell Ventures’ support, Value Group 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 CCUS to reduce emissions in the maritime industry.
Value Group Co-Founder and Director Maarten Lodewijks said: “We are very excited with this new development. Shell Ventures will support us in many ways that will help our strategy moving forward and contribute to our development. The participation of Shell Ventures serves as confirmation that we are on the right path and is a huge compliment for our team.”