Aalborg, Denmark-based Blue World Technologies, a developer and manufacturer of methanol fuel cells as an alternative to non-renewable fuels, announced on Tuesday that it has raised €37M in a Series B round of funding from the Danish sovereign wealth fund, Vækstfonden ((The Sovereign Investment Fund of Denmark), the German engine manufacturer DEUTZ as main investors, and the Bill Gates-founded Breakthrough Energy Ventures (BEV). BEV’s recent investment will help the company to scale its fuel cell production as well as invest in the development of methanol-driven fuel cell applications for the maritime sector. With a methanol fuel cell-powered auxiliary power unit (APU), Blue World wants to provide modular APU solutions in the megawatt range for direct integration in new builds as well as retrofits in existing ships.
