ARLINGTON, VA, July 19, 2023 — Carbon Sink LLC, a leading developer of green methanol, and Rose Cay Maritime, LLC (RCM), a forward-thinking Jones Act-compliant shipping firm, have announced a strategic partnership aimed at advancing the use of low-carbon fuels in the maritime industry. This Memorandum of Understanding marks a significant step towards enhancing green fuel production, transportation, and storage for the shipping sector. RCM's expertise will enable Carbon Sink to efficiently distribute its green methanol to customers, facilitating a smoother supply chain as Carbon Sink ramps up production across the U.S.
Alex Parker, CEO of RCM, emphasized the synergy between the two companies: “Carbon Sink is a leader in the creation of state-of-the-art green methanol plants that will help drive a material shift in the shipping industry's decarbonization initiatives that aligns with Rose Cay’s sustainability goals. Together, we look forward to providing much-needed green methanol production and supply chain solutions to meet growing demand from the ambitious decarbonization goals of the maritime industry.”
With over 220 methanol-capable ships already operational or in development, the demand for green methanol exceeds 6 million metric tons annually. Carbon Sink has also committed to supplying A.P. Moller-Maersk with 100,000 tonnes of green methanol yearly from its first plant, set to begin production in 2027, with Maersk agreeing to buy the entire output and considering future purchases from Carbon Sink's upcoming facilities.
Steve Meyer, CEO of Carbon Sink, shared his enthusiasm about the partnership: “Rose Cay Maritime is the ideal partner to help Carbon Sink deliver our carbon-neutral fuels to our customers. Their industry knowledge and leadership in advancing the maritime energy transition will enable us to better serve the market as we expand our production capacity.”
About Carbon Sink
Carbon Sink specializes in creating major projects that transform CO2 emissions from industries into eco-friendly fuels and chemicals through the use of existing technologies. Providing solutions that range from carbon-neutral to carbon-negative, the company aids chemical and transport businesses in complying with regulations and catering to the increasing demand for sustainable goods and services. For more information, please visit www.carbonsinkllc.com.
About Rose Cay Maritime
Rose Cay Maritime provides essential energy supply-chain services to Fortune 100 companies and governments. RCM is leading the energy transition by transporting conventional and renewable fuels via its Jones Act-compliant fleet of U.S.-owned, built, and crewed vessels. Its management team and advisors include experts in maritime operations, safety, supply-chain logistics, data analytics, regulatory compliance, and strategic investments. RCM offers Jones Act compliant technical management, crewing, and supply chain logistics services. For more information, please visit www.rcmaritime.com.
Investor and Media Contact Jim McVaney, 800.583.5223 ext. 2 or JIM@CarbonSinkLLC.com
Rose Cay Maritime Contact Joel Fine, 832.388.3013 or JJFine@RCMaritime.com