Chinese chemicals corporation Henan Shuncheng Group has signed an agreement with Icelandic technology developer Carbon Recycling International – CRI hf., to design a plant based on CRI’s technology that will produce low carbon intensity methanol in China
Carbon Recycling International has been awarded an EUR 1.8 million grant under the EU Horizon 2020 Research Programme to increase the scale of its CO2-to-methanol technology, marketed under the trademark Emissions-to-Liquids (ETL). The grant will allow CRI to accelerate efforts to commercialize large scale production plants, expanding the market for ETL technology and use of renewable methanol in Europe. The project is referred to as “CirclEnergy“, as CRI’s technology is designed to support and enable the transition to circular economy.
Power generation from wind and solar sources is becoming the lowest cost option on a levelized cost basis, for most locations around the world. The capacity of transmission grids to accommodate natural fluctuations in wind and solar energy, is however still limited. As investment in solar and wind generation continues to grow, transmission system operators are therefore increasingly forced to curtail the supply of power from these intermittent sources.
Carbon Recycling International has been selected by a jury of energy specialists as the winner of Wärtsilä’s SparkUp Energy Challenge. Close to 70 companies from across the world entered the challenge, and 4 companies were selected for the final round. The jury focused on which technologies would best address key challenges to the integration of 100% renewable sources in the power system. CRI gets the opportunity to collaborate with Wärtsilä on transformative projects as well as a monetary prize of 50.000 euros.
Carbon Recycling International (CRI) has pioneered the development of process technology to recycle CO2 into alcohols and liquid hydrocarbons. CRI operates the world’s first facility of its kind in Iceland which produces renewable methanol, a source of fuels and chemicals, from CO2 and H2 alone. This technology has the potential to replace hundreds of millions of tons of fossil fuel and reduce emissions of CO2 by billions of tons per year.