A partnership agreement has been signed between Netherlands-based GoodFuels and Japan-based ITOCHU Corporation to scale the use of sustainable marine biofuel in the Asia-Pacific (APAC) region. The partners will focus on building a market for the fuel in the region as well as develop a supply chain required to boost adoption of marine biofuel.
ITOCHU will be in charge of logistics, blending, and distribution, while GoodFuels will be in charge of sourcing, manufacturing, technical expertise, and brand marketing. Both parties will share sales and marketing responsibilities and jointly scale manufacturing and sourcing capabilities.
The partnership will leverage GoodFuels’ expertise in sustainable biofuels and its client and sourcing portfolio as well as ITOCHU’s trading and supply operations and client base.