Dutch firm Titan LNG is now just Titan as the new name “better reflects” the company’s commitment to the decarbonization of shipping and industry.
“Dropping the single product focus from our name reflects how we will use our expertise for other fuels that will emerge after LNG,” Niels den Nijs, CEO of Titan, said in a statement on Wednesday.
He said the company has completely dedicated its “extensive investment program” for the immediate and long-term future to carbon-neutral fuel infrastructure, such as liquefied biomethane (LBM) production plants and LBM bunker vessels.
The newbuild program, that consists of the Krios and Hyperion series, would join Titan’s expanding infrastructure in late 2024 on the back of the long-term contracts in place, the statement said.
According to de Nijs, LBM is the, “fuel of choice for many shipowners which provides a clear pathway into a carbon neutral future with the possibility to blend in hydrogen-derived e-methane when available.”
“However, we recognize that decarbonization will require a range of solutions, and when other alternative fuels become available at scale, we are ready to add them into our supply portfolio,” he said.
“The name change represents the natural evolution of our company, the conversations we are having with current and future clients, together with the various EU fundings we have received for LBM production plants and hydrogen-derived e-methane projects,” den Nijs added.