SRC Group and GREEN MARINE Partner to Develop Methanol Superstorage

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SRC Group and GREEN MARINE have signed a collaborative agreement, bringing together two leading advocates of methanol as a marine fuel. This partnership aims to develop and deliver Methanol Superstorage to the market.

Benefits of Methanol Superstorage

The cooperation between SRC Group and GREEN MARINE focuses on the Methanol Superstorage solution, which has garnered significant attention from shipowners, builders, repairers, class societies, and insurers. Methanol Superstorage utilizes the SPS Technology Sandwich Plate System instead of traditional cofferdams, increasing shipboard tank volumes by 85% and effectively mitigating methanol’s lower energy density compared to conventional HFO.

GREEN MARINE’s Expertise

GREEN MARINE is renowned for its extensive experience in methanol transition solutions across all ship segments. With a history dating back to the first use of methanol as a marine fuel, GREEN MARINE’s services include ship design, yard selection, construction supervision, technical management, operations, training, procurement, sales, and bunkering. The firm is involved in the majority of methanol-related ship projects globally.

Comprehensive Technical Coverage

Hannes Lilp, CEO of SRC Group, emphasized the collaboration’s potential: “Following the significant impact of Methanol Superstorage, SRC and GREEN MARINE will provide comprehensive technical coverage for methanol integration.” Combining GREEN MARINE’s expertise in methanol projects with SRC’s 23 years of experience in ship refits and conversions, the partnership aims to onboard Methanol Superstorage for both retrofits and new builds, establishing a mature sales framework for global adoption.

Driving Methanol Supply Chain Development

GREEN MARINE continues to advance the methanol supply chain in the marine market. Recent agreements include preparations for green methanol supplies from Chinese partners. Additionally, Chris Chatterton, former Chief Commercial Officer of the Methanol Institute, has been appointed as Managing Director & Partner, effective July 1, 2024.

Market Reception and Future Prospects

Chris Chatterton remarked: “Market receptiveness to Methanol Superstorage has been exceptional. We look forward to working with SRC to realize its potential in promoting methanol as a mainstream marine fuel. Investors can be confident in the expertise, insight, and global support that GREEN MARINE brings to the demonstration phase of Methanol Superstorage.”

Approval and Technical Development

Methanol Superstore has received Approval in Principle from a leading IACS society, indicating no conceptual issues with ship regulatory requirements. Hannes Lilp stated, “Alongside class approvals, SRC and GREEN MARINE will oversee and manage third-party technical development.”

This partnership between SRC Group and GREEN MARINE marks a significant step forward in the adoption of methanol as a marine fuel, leveraging combined expertise to bring innovative solutions to the market.

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Source: src.ee