Value Group gets funding to develop CO₂ hub in Rotterdam

Value Group has received €2 million ($2.11 million) investment from Energietransitiefonds Rotterdam (ETF-R) to advance the project.

PHOTO: A container ship docked at Rotterdam Port. Getty Images

The ETF-R is a €100 million ($105 million) investment fund from Rotterdam's civic body to support projects that can contribute to the city's energy transition.

The funding will be used to further develop the hub for CO₂ offloading and processing in Rotterdam. The project involves use of carbon capture system.

Value Maritime, part of the Value Group, has developed a CO₂ capture and exhaust gas cleaning system for ships.

According to Value Maritime, this system can filter out sulphur and particulates and capture up to 40% carbon dioxide from a ship's exhaust. It can be installed onboard a vessel. The technology allows ships to store the CO₂ collected onboard in tanks, which can be offloaded in port for reuse or storage. 

With the ETF-R funding, Value Group will manage the CO₂ offloaded from ships and further develop its CO₂ hub. 

By Manjula Nair

Please get in touch with comments or additional info to news@engine.online