Icelandic clean energy company Carbon Recycling International (CRI) has joined forces with a subsidiary of China-based Shenghong Petrochemicals (Jiangsu Sailboat) to start up one of the world’s most efficient carbon dioxide (CO2)-to-methanol plants.
Launched at the Shenghong Petrochemical Industrial Park on September 25th, the plant will harness CRI’s proprietary Emissions-to-Liquids (ETL) technology to transform waste 150,000 tonnes of waste CO2 and hydrogen into 100,000 tonnes of sustainable, commercial-grade methanol per year.
The methanol will replace fossil-based methanol to produce chemical derivatives including sustainable plastics and EVA coatings for solar panels.
Qian Xinhua, Vice President of Shenghong Petrochemical Industry Group labelled the project as a significant step forward in the green industrial value chain.
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