Biofuels company WasteFuel promoted its CFO Peter Jorgensen to president, the company announced in an Oct. 23 release.

Jorgensen’s role as president, while continuing to serve as CFO, includes overseeing WasteFuel’s project scaling efforts and working with the executive team to ensure the financial and operational effectiveness is maximized, according to the release.

Prior to joining the company, Jorgensen was at Maersk Group and served as a partner at Maersk Growth, the venture arm of the A.P.  Moller-Maersk Group, WasteFuel stated.

“As the demand for methanol increases in the shipping sector, I am honored to work with the team at WasteFuel to continue to move our projects forward and increase the supply of bio-methanol,” said WasteFuel president and CFO Peter Jorgensen.

The promotion follows recent company news regarding its BP partnership and closing of a Series B round.