Danish firm Maersk said Tuesday it is ordering eight large, ocean-going vessels able to run on what it called “carbon neutral methanol.”
The world’s largest container shipping firm said the vessels would be built by South Korea’s Hyundai Heavy Industries and have the capacity to carry around 16,000 containers. According to a number of reports, each ship will cost $175 million, making the total cost $1.4 billion.
In a video message, Morten Bo Christiansen, Maersk’s head of decarbonization, said the vessels would “hit the waters from early 2024.” He added: “Once they are all out there sailing on green methanol, they will save a million tons of CO2 every year.”
Maersk said the ships would have a dual fuel engine set up, a feature which increases costs. “Additional capital expenditure … for the dual fuel capability, which enables operation on methanol as well as conventional low Sulphur fuel, will be in the range of 10-15% of the total price,” it said. Its agreement with Hyundai Heavy Industries has an option for four extra vessels in 2025.
While the Danish shipping giant said it would run the vessels “on carbon neutral e-methanol or sustainable bio-methanol as soon as possible” it also acknowledged there were issues to overcome.
“Sourcing an adequate amount of carbon neutral methanol from day one in service will be challenging, as it requires a significant production ramp up of proper carbon neutral methanol production,” Maersk said.
In simple terms, “carbon neutral” means CO2 emissions are offset by an equal amount of CO2 removal. If something is carbon negative, it means more CO2 is removed from the atmosphere than emitted.
Tuesday’s announcement comes a few days after Maersk said it had secured a supply of “green” e-methanol for what it described as “the world’s first container vessel operating on carbon neutral fuel.”
It said Denmark’s European Energy and its subsidiary, REintegrate, would set up a facility to produce carbon neutral e-methanol for use in a vessel designed to operate on it. The plant would then produce approximately 10,000 metric tons of e-methanol used by Maersk’s ship every year.
The e-methanol will be made using renewable energy and biogenic carbon dioxide, with production of the fuel for Maersk slated to begin in 2023. The United States Environmental Protection Agency describes biogenic emission sources as “emissions that come from natural sources.”
The environmental footprint of shipping is significant. According to the International Energy Agency, in 2019 international shipping — a crucial cog in the world’s economy — was responsible for approximately 2% of “global energy-related CO2 emissions.”
With major economies around the world attempting to cut emissions in order to meet net-zero targets, the shipping sector will need to find new ways of reducing the environmental footprint of its operations.
In April, Brussels-headquartered campaign group Transport & Environment published a wide-ranging report on decarbonizing shipping. Among other things, it stressed the importance of sustainable fuels going forward.
“To achieve full decarbonisation of the shipping sector requires a new source of sustainable and renewable fuel,” its research said.
“Fuels produced by additional renewable electricity (e-fuels or electrofuels) are the only scalable solution that fits the requirements of energy dense, deployable, and clean fuels,” it added.
Who said electric flying cars are only for the movies? Alef Aeronautics made history after posting a video of its electric car driving and vertically taking off in public. The video shows the electric flying car jumping over another vehicle as it takes flight. Watch “the world’s first real flying car” take flight below.
Electric flying car takes flight in California
Is this the next Wright Brothers’ Kitty Hawk moment? Alef’s CEO, Jim Dukhovny, said the company is “proving to humanity that new transportation is possible.”
The company has been developing flying cars for about a decade. After showing a prototype to Tim Draper in 2017, an early investor in Tesla and SpaceX, his venture capital firm Draper Associates, backed Alef with $3 million in seed funding.
Alef shook the internet after unveiling a prototype of its flying car, dubbed the Model A, in 2022. The company claimed the 100% electric flying car can drive up to 220 miles with a 110-mile flight range.
Less than a year later, the Model A became the first vehicle of its kind to obtain a Special Airworthiness Certification from the US Federal Aviation Administration. Alef even became the first company with pre-orders to sell an aircraft through a car dealership.
CEO Jim Dukhovny introduces the Model A electric flying car at the Detroit Auto Show (Source: Alef)
The company made history again this week after releasing a video of an “ultralight version” of its flying car taking flight in California.
Alef said it’s the “first-ever video in history of a car driving and vertically taking off.” Although previous videos have shown tethered flights, cars using a runway to take off, and eVTOL flying taxis taking off, this is the first public video of a car actually driving and taking off vertically on a city street. The road was blocked off for safety.
Alef’s electric flying car takes flight and hops another vehicle on a public street in California
The video almost seems fake, like something out of a Sci-Fi movie, but this really took place. You can see the flying car take flight and jump over another vehicle.
In a separate video, Alef showcased the flying car driving off-road to prove it can still drive like a typical vehicle.
Alef’s electric flying car driving off-road
Alef claims its flying cart is “100% electric, drivable on public roads, and has vertical takeoff and landing capabilities.” The company has mass manufacturing agreements with PUCARA Aero and MYC, which supply industry giants like Boeing and Airbus for aviation-grade parts.
To date, the electric flying car has secured 3,300 pre-orders. Prices are expected to start at around $300,000. You can pre-order yours on Alef’s website for a $150 deposit. For $1,500, you can reserve a spot in the priority queue.
The company plans to begin Model A production later this year, with the first deliveries scheduled to follow. Alef is already working on its second flying car, “Model Z,” which is expected to start at around $35,000. It’s set to launch in 2035.
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SolarEdge shares surged more than 28% on Wednesday despite posting a steep fourth-quarter loss of $287 million.
Results were sharply down year over year, but “exceeded the Street’s very low expectations as well as our numbers,” Guggenheim Securities analyst Joseph Osha told clients in a Wednesday note.
“The company also managed to generate positive free cash flow as SEDG continued to draw down inventory and trade receivables,” Osha wrote.
Excluding impairment charges and write-offs, SolarEdge posted an adjusted loss of $3.52 per share compared with the predicted loss of $1.65 per share, from Wall Street analysts surveyed by LSEG.
However, revenue of $196.2 million beat expectations of $189.1 million, even though it was down 17% from the year-ago quarter.
SolarEdge and stocks exposed to the residential solar sector have struggled in the face of high interest rates and a glut of product they have had trouble offloading. Investors are also worried that President Donald Trump’s focus on oil and gas and his threats to repeal the Inflation Reduction Act will hurt the solar and broader renewable sectors. Over the past 12 months, the stock is down more than 75%.
Toyota is already developing the next-gen RAV4, and rumors suggest an electric model is in the works. According to internal documents, significant changes are expected. Here’s what we know about the upcoming Toyota RAV4 and a possible EV variant.
When will Toyota launch the electric RAV4 EV?
The RAV4 was Toyota’s top-selling vehicle in the US last year, moving over 475,000 units. Even more impressive, the compact SUV ended the Ford F-150’s nearly four-decade reign (except for 2009) as America’s top-selling vehicle.
Data from Jato Dynamics (via Forbes) shows Ford F-150 sales slipped 5% to 460,915 in 2024, while RAV4 sales climbed another 9% to over 475,000.
The RAV4’s growing popularity is mainly driven by the rising demand for hybrid and electric vehicles. With the current generation released back in 2018, Toyota is expected to reveal the updated RAV4 this summer.
According to local reports, internal documents reveal the next-gen RAV4 will ride on an improved TNGA-K platform. The updated SUV is expected to be slightly bigger than the current model, with an extended wheelbase to open up more interior space.
2025 Toyota RAV4 PHEV (Source: Toyota)
The design is expected to mirror the new Prius and Camry models with a sportier, more modern look. The front end is due for a new grille, and wraparound LED daytime running lights.
Inside, the new RAV4 will likely gain a new infotainment system with AppleCarPlay and Android Auto support. Other premium features could include a head-up display, panoramic sunroof, and a wireless charger.
2025 Toyota bZ4X Limited AWD interior (Source: Toyota)
Toyota is expected to launch the next-gen RAV4 with several powertrain options, including ICE, hybrid (HEV), plug-in hybrid (PHEV), and a possible electric (EV) variant.
Although no details have been confirmed, Toyota is said to be considering an electric RAV4 that will ride on a modified TNGA-K platform. The fifth-gen RAV4 is built on the Toyota New Global Architecture (TNGA-K) platform.
Electrek’s Take
The RAV4 is already about the size of Toyota’s electric bZ4X SUV. At 184.6″ long, the bZ4X is slightly longer than the RAV4 (180.9″ long), but if the rumors are true that the next-gen model will be bigger, it won’t make sense for both to be on the market.
With the bZ4X reportedly due for a rebrand, it could be sold as the “electric RAV4” or “RAV4 EV” as Toyota drops the bZ naming system.
Would you buy an electric Toyota RAV4? If so, what features and other specs would you be looking for? Let us know in the comments.