Carbon Recycling International and Perstorp sign offtake agreement for renewable methanol

Perstorp, Scandinavia's leading biodiesel producer and a world leader in the specialty chemicals market, has signed a long-term offtake agreement for supply of Vulcanol™, renewable methanol from Carbon Recycling International (CRI) in Iceland. Vulcanol™, made from CO2 and renewable energy is 100% fossil free and contributes to the low carbon footprint of Perstorp's Verdis Polaris™ Aura biodiesel product, which reduces emissions of CO2 by more than 60%, compared to fossil diesel.

Perstorp operates Scandinavia's largest biodiesel esterification plant in Stenungsund, Sweden and is a leader in development of renewable fuel from rapeseed oil. In addition to manufacturing high-quality biodiesel, the company also involved in development of standards, measurement methods and political activity through participation in SIS, CEN, EBB and Svebio.

After pioneering the production of sustainable fuel from renewable energy and recycled CO2 emissions, CRI has recently expanded the production capacity of the world's first renewable methanol plant in Svartsengi, near Grindavik, Iceland to 4000 tons per year. In addition to production of biodiesel, Vulcanol™ is used as a blend component for gasoline.

"We are constantly improving the environmental benefits of our biodiesel products. We have had excellent results with CRI's Vulcanol™ product in the development of our Verdis Polaris™ Aura biodiesel, which is specially designed for Nordic climates, and are very pleased to be able to take advantage of the increased production volumes of CRI's expanded renewable methanol plant." said Lars Lind, Managing Director of Biofuels for Perstorp.

"We are pleased to be able to offer larger volumes of Vulcanol™, to our customers. Perstorp is a valued partner as a leader in developing lower carbon intensity biodiesel and we are delighted to contribute to Perstorp's development of fully fossil free fuels for transportation," said KC Tran, Chief Executive and co-founder of CRI.

About Perstorp

Perstorp, one of Scandinavia's oldest chemical companies was founded in 1881 and holds world leading positions in several specialty chemicals. Perstorp operates Scandinavia's largest biodiesel plant in Stenungsund, Sweden. With approximately 1,500 employees in 22 countries and manufacturing units in Asia, Europe and North America, sales in 2014 totalled more than 11 billion SEK. Perstorp Holding AB, parent company of Perstorp, is controlled by PAI partners, one of Europe's major private equity companies.