Caterpillar Marine says that it sees methanol as the key fuel in the decarbonisation of the marine industry, and is announcing additional development of alternative fuels with a particular investment in methanol engine technologies.
The company considers this commitment will support the development of decarbonisation efforts in the marine industry by offering cost effective methanol-powered solutions without sacrificing the value customers expect from it.
Derrick York, Caterpillar Marine MD Derrick York said: “In order to continue supporting our customers with their climate-related goals Caterpillar Marine will continue exploring combustion technologies such as methanol. Today’s products are being designed to be upgradable for future methanol utilization, thus further enabling the energy transition.”
To encourage this goal, Caterpillar Marine has joined the Green Maritime Methanol consortium (GMM), to work with other companies in the maritime industry to streamline adoption of methanol as a maritime transport fuel. The company believes that green methanol, an important candidate as a future fuel for the shipping industry, can be produced in a sustainable way, is easily stored on board ships, and can provide a near-zero carbon intensity. Caterpillar recognises the value of being a member of the GMM to accelerate the understanding of the technical and regulatory challenges of methanol as a marine fuel while demonstrating viability with actual operators in commercial service.
York added: “As the pathways to reducing net greenhouse gases from the maritime industry have become more clear, methanol has shown it can play an important role in that future.”
