Singapore – April 1 2025 - EcoCeres Inc., Mitsui & Co. Energy Trading Singapore Pte. Ltd., KPI OceanConnect, and Global Energy have jointly conducted the sustainable supply of Hydrotreated Vegetable Oil (HVO) with the delivery of 400 metrics tons to a renowned cruise line in Singapore. This collaborative effort marks a significant milestone in promoting eco-friendly solutions for maritime operations.

EcoCeres Inc., a leading innovator in renewable fuel production and Mitsui & Co. Energy Trading Singapore Pte Ltd, have partnered with KPI OceanConnect, a leading global provider of marine energy solutions to provide Renewable Diesel/HVO for a cruise ship. The delivery was performed by an IMO Type II chemical tanker owned by Global Energy. This marks EcoCeres' inaugural shipment of HVO to Singapore, underlining the partnership's dedication to environmental sustainability and pioneering innovation within the maritime industry.

The HVO is derived exclusively from pure waste materials, underlining the commitment of all parties involved to environmental stewardship and circular economy principles. This renewable fuel is projected to mitigate 1,477 tons of CO2 equivalent in emissions when compared to traditional fossil fuels.

Mr. Matti Lievonen, CEO of EcoCeres Inc., expressed his enthusiasm about this collaboration, stating, "We are thrilled to lead this transformative initiative alongside Mitsui & Co. Energy Trading Singapore Pte. Ltd. and KPI OceanConnect. By introducing sustainable HVO for marine bunkering, we are not only revolutionizing industry practices but also driving towards a more sustainable future for maritime operations. This collaboration exemplifies our shared commitment to environmental stewardship and underscores the potential of renewable solutions in reducing carbon footprints."

Mr. Atsushi Noguchi, Chief Operating Officer, Trading Dept. of Mitsui & Co. Energy Trading Singapore Pte. Ltd., commented that "This collaboration represents a significant step forward in the maritime industry's low carbon initiatives. We are proud to be part of this innovative partnership that focuses on providing sustainable solutions for marine bunkering. By leveraging HVO as a renewable fuel source, we are collectively contributing to the Maritime sector's energy transition.

Commenting on the delivery, Jesper Sørensen, Head of Alternative Fuels at KPI OceanConnect, said: “It is vital that we continue to collaborate on the development and expansion of supply for alternative biofuels to the maritime industry. Singapore is leading the way as an innovator of many firsts in the alternative fuels market. We are delighted to be collaborating with our partners on this project to facilitate the growth of biofuels in the region.”

The partnership between EcoCeres Inc., Mitsui & Co. Energy Trading Singapore Pte. Ltd., KPI OceanConnect, and Global Energy underscores the importance of collaboration for driving the Maritime industry's energy transition.

EcoCeres' commitment to innovation and sustainability is further exemplified through this eco-friendly initiative, which aligns with global efforts to reduce carbon emissions and promote cleaner energy solutions in the maritime sector.

For media inquiries or further information, please contact:

EcoCeres / Isabel Zhang / +852 3896 0382 / communications@ecoceres.com

Mitsui & Co. Energy Trading Singapore Pte. Ltd. / Koichi Sato / +65 6436 9800 / AdminSPMET@dg.mitsui.com

KPI OceanConnect / Venetia Dimoka / +306955466327 / vedi@kpiocean.com

About EcoCeres

EcoCeres is a pure-play renewable fuel producer, with over a decade of experience in biomass utilisation, backed by international investors Bain Capital and Kerogen Capital. Founded with a mission to address the challenges of climate change, EcoCeres has earned a reputation as a global innovator in the conversion of waste into renewable fuels, renewable chemicals and materials. As an ISCC-certified decarbonisation solution provider, the company produces industrial scale sustainable aviation fuel (SAF), hydrotreated vegetable oil (HVO), renewable naphtha and cellulosic ethanol (CE) through its proprietary processes.

For more information about EcoCeres, please visit https://www.ecoceres.com/ and follow us at linkedin.com/company/ecoceres-inc/.

About Mitsui & Co. Energy Trading Singapore Pte Ltd

Mitsui & Co. Energy Trading Singapore Pte. Ltd. (METS) is a 100% subsidiary of Mitsui & Co., Ltd. (Mitsui Tokyo) providing integrated business services to partners all over the world in order to enhance value across their entire supply chain. This is achieved by applying expert knowledge, experience and core skills in market development, finance, logistics, investment and information to solve specific business problems across a broad range of commodities and services. METS was established in Singapore as an energy trading arm of Mitsui Tokyo in 2010 and has been acting as the global headquarters of oil and gas trading of Mitsui Tokyo. Expanding trading activity in Europe, the Middle East and Africa (EMEA) region, METS established its branch in London in February, 2019.

About KPI OceanConnect

KPI OceanConnect is one of the world's largest and most experienced independent marine energy service and solutions providers. For more than 50 years, KPI OceanConnect has been fueling global trade through its partnership approach, innovative solutions, and ability to expertly guide its clients through new and evolving challenges.

By combining the expertise of its global workforce with market-leading technology, innovation, and financial strength, KPI OceanConnect creates long-term value for its partners and is a trusted leader in the transition to low carbon energy.

KPI OceanConnect's teams of experienced professionals deliver trusted expert counsel from offices in Athens, Doha, Hong Kong, Houston, Istanbul, Jakarta, London, Miami, Middelfart, New York, Rotterdam, Seattle, Seoul, Singapore and Tokyo.

Find out more by visiting: https://kpioceanconnect.com/ and follow us at: https://www.linkedin.com/company/kpioceanconnect/