The accredited startup venture InoMob LTD, in a strategic partnership with the multinational Island Oil Holdings group of companies, has developed a proprietary renewable gas production unit, which utilizes animal waste from farms and upgrades their by-products to BioMethane.
This innovative technology was unveiled for the first time in Cyprus at an event in the Port of Limassol premises of Island Oil Holdings.
In his remarks, the Minister of Energy, Commerce, and Industry for the Republic of Cyprus, Mr. Giorgos Papanastasiou, emphasized the significance of such private initiatives to develop “green” technology, noting that they foster a sense of optimism that the CO2 emissions targets set by the EU can be met in Cyprus.
The BioMethane production unit has been designed and developed by a team of Cypriot scientists at InoMob, with the goal of turning the long-term issue of waste management in farms into a unique opportunity to improve the carbon footprint of heavy transport, based on the principles for circular economy.
This is achieved by upgrading biogas (separating carbon dioxide from the biomethane stream) which is produced by the anaerobic digestion of organic waste. The resulting biofuel can be used as part of a diesel fuel mix, or on its own, to propel fleets of heavy transport, including shipping vessels.
In his statement, the CEO of Island Oil Holdings, Mr. Chrysostomos Papavassiliou, recognized the significance of decarbonizing the shipping sector, and other sectors in the Cyprus industry.
“We have a moral obligation towards the next generations to support efforts such as the one by InoMob, working to create a better, more sustainable and safe future”, he added.
Dr. Sotiris Petrakidis, the founder and Managing Director of InoMob Ltd, emphasized the important role that domestic biomethane production can play as a sustainable and financially competitive biofuel. He also stressed that it is important the technology was developed in Cyprus, satisfying the principles of circular economy, while offering an opportunity for decarbonization of heavy transport in the country along with the shipping industry.