Denmark - Recent As the European Union ramps up policies to reduce carbon emissions, the global shipping industry is experiencing a rapid rise in the demand for green methanol. Danish renewable energy company European Energy has signed a cooperation agreement with Maersk, an international shipping giant, to develop green methanol fuel. The factory was completed in 2023 and is capable of supplying 32,000 tons of green methanol fuel annually. Green methanol is generated through a chemical process that utilizes green hydrogen and biogenic CO2. It is sometimes called e-methanol, with the "e" referring to the electricity used to produce it. In this process, CO2 is captured from various existing sources. Green methanol has numerous applications, including serving as fuel for heavy transportation, such as trucks and ships, as well as a raw material for the plastic industry and the creation of green, sustainable plastic products. European Energy has been awarded a grant exceeding 50 million euros by the EU Commission under the EU Innovation Fund for an upcoming green methanol facility in Denmark. In July 2023, the International Maritime Organization (IMO) adopted the 2023 IMO Strategy on Reduction of Greenhouse Gas (GHG) Emissions from Ships. This strategy mandates that CO2 emissions per unit of transport work, averaged across international shipping, must be reduced by at least 40 percent by 2030 compared to 2008 levels, with the goal of achieving net-zero GHG emissions by around 2050. To achieve this goal, using green methanol as fuel for international shipping serves as a promising solution. As EU policies tighten, global orders for methanol-powered ships are experiencing substantial growth. Shotlist: Denmark - Recent: 1. Building of European Energy; 2. Sign reading "European Energy"; 3. Inside of building of European Energy; 4. SOUNDBITE (English) Knud Erik Andersen, CEO, European Energy (partially overlaid with shot 5): "We made a contract three years back and we look forward to delivering very soon according to that contract. Total market for methanol, fossil methanol, is one hundred million tons a year. And a part of that is now in the process of being converted to green methanol."; [SHOT OVERLAYING SOUNDBITE] 5. Aerial shot of green methanol factory; [SHOT OVERLAYING SOUNDBITE] 6. Aerial shot of green methanol factory; 7. SOUNDBITE (English) Knud Erik Andersen, CEO, European Energy (ending with shot 8): "Carbon border tax is of course a new regulation initiative from the EU. I think it will start in 2026. I think it will further stimulate demand for e-methanol."; 8. Aerial shot of green methanol factory; FILE: Brussels, Belgium - Date Unknown 9. EU flags in front of Berlaymont building, headquarters of European Commission; China - Recent 10. SOUNDBITE (Chinese) Zhang Li, Executive Dean, China Electric Power Carbon Neutrality Development Research Institute (partially overlaid with shot 11): "On January 1 of this year, (the EU) officially included methanol used in shipping in its emissions trading system. As a result, the EU is positioned to be more advanced globally in terms of technical input, policy support, and trading frameworks."; [SHOT OVERLAYING SOUNDBITE] FILE: Brussels, Belgium - Date Unknown 11. EU flags; [SHOT OVERLAYING SOUNDBITE] FILE: Egypt - Date Unknown 12. Various of vessels on Suez Canal; China - Recent 13. SOUNDBITE (Chinese) Xu Tao, deputy general manager, Sinopec Fuel Oil Sales Co., Ltd.: "Major shipowners have been reforming their ship engines one after another. The progress in upgrading methanol bunker vessels and methanol fuel vessels has accelerated significantly in recent years. By the end of October, nearly 400 ocean liners had successfully adopted this methanol dual-fuel system."; FILE: Qinzhou City, Guangxi Zhuang Autonomous Region, south China - Date Unknown 14. Aerial shot of vessel sailing. [Restriction - No access Chinese mainland]