Tharisa Minerals, a Cyprus-based mining company with operations in South Africa and Zimbabwe, has invested £1.5 million in technology startup Methanox to advance its emissions reduction solution for natural gas-powered ships.
Methanox is developing catalytic converters, with the potential to cut 0.24% of global carbon emissions annually if deployed on up to 2,600 ships, to address unburned methane emissions from ship engines.
The investment will fund in situ vessel testing of the catalytic converters, with commercial deployment targeted for the second half of 2025.
“We are committed to reducing the impact on the climate of our business. As a large PGM producer, we see this opportunity as one of the many ways we can support these efforts that in time utilizes metal from our operations” stated Andrew Henwood, Executive: Corporate Finance, Tharisa Minerals.
Tharisa Minerals is expanding its emissions reduction efforts through its involvement in a long-duration energy storage project deployed by German firm Redox One. The company has also signed a 15-year power purchase agreement with Etana and is sourcing electricity from a 40 MW solar facility under construction, to cut its carbon footprint by 30% by 2030.
