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Implementing the use of clean fuels such as green ammonia creates the potential of trillion-dollar investment opportunities, specifically in developing countries, according to a report released by Ricardo Energy and Environment, commissioned by EDF. Identified by Sailing on Solar, the “green” alternative serves as an emissions-free substitute when used by shippers that produce it at-scale with untapped renewable energy resources. This approach ultimately eliminates fossil-fuel usage while offering a clean solution to modified shipping engines and hydrogen fuel cells.
“Emissions-free shipping can be the engine that drives green development across the world,” Aoife O’Leary, senior legal manager at Environmental Defense Fund Europe, said. “The abundance and falling costs of untapped renewable resources like solar and wind energy in developing countries make the production of maritime fuels that emit no greenhouse gases a big potential investment opportunity where such production is undertaken by additional renewable capacity. And shippers can look forward to future running on the air, water, wind and sunlight that go into manufacturing new fuels like green ammonia.”