Hong Kong S.A.R., 28 April 2026 – Venture Energy Limited (“Venture Energy”) and Shanghai Shenji Energy & Environmental Technology Co., Ltd. (“Shenji Energy”) today announced the signing of a strategic cooperation Memorandum of Understanding (MOU). The collaboration marks an upgrade from existing spot trade co-operation to a full-range strategic collaboration covering medium- to long-term offtake, green fuel trial bunkering, trading platforms and technical management for marine vessels.
Greg McMillan, Executive Director of Venture Energy, and Zhu Jiaqi, Chairman of Shenergy Environmental Technology Co., Ltd. (“Shenergy Environment”), signed the agreement on behalf of both parties at the headquarters of Shenergy Group in Shanghai on 17 April 2026.
This strategic upgrade comes at a key milestone in the global maritime green transition. EU rule making is driving the adoption of clean fuels both in the marine segment and across other industries, a trend anticipated to be influenced by IMO regulations. China has also rolled out supportive policies to advance the low-carbon transformation of transportation sector. With the first batch of green marine fuel projects now operational, the country is accelerating the development of a full-chain green fuel supply, covering production, bunkering, and trading.
From Spot Bunkering to Long-Term Capacity Commitments
Building on existing co-operation, the MOU establishes a strategic collaboration based on a hybrid supply framework combining spot market flexibility with long-term offtake commitments. The collaboration is designed to deliver more predictable green fuel solutions for the shipping industry, in response to the rising global demand for regulatory-compliant low-carbon fuels. Venture Energy has articulated its long-term offtake intent and expects to scale up procurement volumes progressively from 2026.
Integrated Energy Solutions for International Markets
The collaboration broadens its scope beyond single-fuel supply to integrated supply-chain services, targeting international markets. The focus is on three key pillars: the development of a green fuel trading platform; pilot bunkering and the market promotion of green fuels; and collaboration on marine services and ship management. This integrated approach will create synergies between fuel supply and maritime services, supporting the scalable adoption of green fuels across the shipping industry.
Greg McMillan, Executive Director of Venture Energy , said: “This strategic collaboration marks an important milestone in Venture Energy’s green fuel supply chain development. Through our partnership with Shenji Energy, we are able to secure a stable supply of green methanol while also establishing an early position across other green fuel pathways. Together, this enables us to offer more comprehensive decarbonisation solutions to shipping customers worldwide.”
Zhu Jiaqi, Chairman of Shenergy Environment , said: “Shenji Energy is committed to becoming a leading provider of green energy solutions in China. This strategic alliance with Venture Energy will fully leverage our complementary strengths in industrial resources and commercial operations. Together, we will drive the standardised and large-scale development of China’s green marine fuel industry.”
About Venture Energy Limited
Venture Energy’s vision is to be a leading provider of next generation fuels. We develop plant and infrastructure projects to drive maritime decarbonisation across Asia and the world. Together with local partners, we invest in upstream clean fuel production capacity, offering development, sales, marketing, and logistics services to plant consortia, and a reliable project partner to off-takers, particularly of methanol and ammonia. We offer our international partners unparalleled visibility of and seamless access to the Chinese clean energy market, and our Chinse partners an effortless international reach.
Venture Energy is a subsidiary of Wah Kwong, a privately-held integrated shipping company headquartered in Hong Kong with more than 70-year history, involved in ship owning, ship management, marine consultancy services and dry bulk operating.
About Shanghai Shenji Energy & Environmental Technology Co., Ltd.
Shenergy Group was originally established in 1987. Since its inception, Shenergy has been committed to ensuring Shanghai’s energy security and preserving the value of state assets, following the principle of “bold exploration with steady operation”. By combining industrial and financial activities, pursuing diverse innovation, and working for mutual benefit, it has grown into a comprehensive energy group covering power, gas, securities, insurance, cables, hydrogen, environmental protection and more. Its operations are organised into four main sectors: power, gas, finance, and strategic emerging industries.
In the field of waste resource utilisation, Shenji Energy focuses mainly on converting biomass into energy and other integrated approaches. As a pioneer in biomass within the Shenergy Group, the company is actively strengthening its position in this area and exploring the feasibility of using biomass in a wider range of applications.
