Virgin Voyages, a new cruise line offering vacations across destinations, partnered with independent sustainability experts, Roundtable on Sustainable Biomaterials (RSB), and three sustainable fuel providers, including Argent Energy (UK-based biodiesel producer), GoodFuels (Netherlands-based sustainable marine fuel producer from feedstock) and Twelve (a carbon transformation startup that converts CO2 into fuel), to decarbonize marine travel.

Virgin Voyages plans to enter into long-term agreements to source its sustainable marine fuels with these three providers and expects to add other suppliers over time. 

Twelve’s strategic collaboration with Virgin Voyages led to the launch of E-Marine, the company’s sustainable marine fuel solution, by leveraging the company’s carbon transformation technology. 

Analyst QuickTake: In July 2022, Twelve partnered with Alaska Airlines, an aviation leader and subsidiary of Alaska Air Group, and Microsoft to supply sustainable aviation fuel (SAF) for a commercial flight demonstration. This collaboration scaled up the production of Twelve’s E-Jet, a fossil-free jet fuel. The funds for the developments of E-Jet and E-Marine fuels were financed from the company’s Series B funding round led by DCVC, which raised USD 130 million in June 2022.