Blue World Technologies develops methanol fuel cell system architectures that convert methanol to electricity with electrical efficiency of up to 65%. Its systems enable internal waste heat utilisation to optimise the methanol-reforming process and allow additional onboard energy recovery. The architecture provides the potential for 100% capture of generated CO2 with only a 2–3% fuel increase, enabling recycling business models. The company has taken an industrial approach and built a fuel cell factory ensuring in-house production of all core fuel cell components alongside system development and manufacturing. Led by CEO Anders Korsgaard and based in Aalborg, Denmark, Blue World plans to use newly raised capital to expand operations and accelerate development efforts. Blue World Technologies develops and industrializes high-efficiency methanol fuel cell systems that enable cost-efficient use of renewable e-fuels such as methanol and produce zero particle emissions. The company is targeting maritime applications initially, including auxiliary power, gensets and eventually propulsion. In late 2021 it insourced production of core fuel cell components and is currently in pre-series production, with series production planned later this year. With the Series B financing the company plans to scale production and invest in developing methanol-driven fuel cell applications for the maritime sector. Blue World expects to reach a production capacity of 500 MW within a couple of years as it scales. The company was founded in 2018 and is based in Aalborg, Denmark. Blue World Technologies develops and manufactures high‑temperature PEM (HT‑PEM) methanol fuel cell components and systems for stationary, APU, automotive and heavy‑duty transport sectors. Its fuel cells run primarily on methanol with onboard methanol‑reforming, enabling a simple system design, high electrical efficiency and zero NOx, SOx and particle emissions. The company has moved from laboratory production toward industrialisation, outsourcing in‑house production of final components in autumn 2021. With large‑scale production planned, Blue World aims to commercialise the technology through series production and to support sectors where direct electrification is insufficient. To support that transition, it secured external financing to streamline and upscale production capacity in 2022. The firm positions its technology within the Power‑to‑X ecosystem as a liquid, storable renewable fuel solution that can leverage existing transport infrastructure.

Total raised

$57M

Funding rounds

3

Latest round

Series C

Latest activity

Dec 2023