CMA CGM, a French container transportation and shipping company, has decided to create a special Energy Fund with a budget of €1.5 billion over 5 years to accelerate the energy transition in order to reach carbon neutrality by 2050.
This fund, which also targets hydrogen, will invest to support the industrial production of new energies as well as low-emission mobility solutions regarding all the Group’s activities (maritime, land and air transport, port and logistics activities, offices). It will support a worldwide innovation platform created by major corporations, small and medium-sized businesses, start-ups, and academic and scientific players.
The fund will be based on 4 pillars: support for the development and production of renewable energies (including e-fuels such as methanol, but also e-methane*) for ships in addition to liquefied natural gas; decarbonization of port terminals, warehouses and land vehicle fleets (by developing the production of decarbonised energies such as wind, solar, biomass, hydrogen, and electrifying land vehicles); launching experiments (a container ship prototype for regional connections powered by liquid hydrogen, in partnership with Energy Observer); and finally, enhancing the sobriety and energy efficiency of working methods and mobility within the group.
As of October 2022, the fund will avail of a dedicated and operational team gathering the best talents (engineers, energy specialists, financial analysts, project managers). The team will focus the company’s strategy on developing low-carbon energy solutions and accelerating their implementation.
*CMA CGM is a partner in the Jupiter 1000 project. The latter, led by GRTgaz, is the first industrial demonstrator in France for the production of hydrogen and e-methane.
Article written by Laurent Meillaud, translated by Marina Leite and reviewed by Logan King.