MRC -- Carbon Recycling International (CRI) and Jiangsu Sailboat have successfully started up one of the world's most efficient CO2-to-methanol plants, said Hydrocarbonprocessing.
An opening ceremony took place on September 25th at the Shenghong Petrochemical Industrial Park. This marks a significant milestone in the global effort to boost the production of sustainable methanol – a valuable fuel and chemical feedstock.
This collaborative project brought together teams from around the world, bringing the plant to life in under two years from contract signing. The project's completion represents a truly global approach to tackling a shared environmental concern, with technical know-how and technology first demonstrated in Iceland playing a vital role in this international solution.
The Jiangsu Sailboat Methanol plant operates with CRI’s proprietary Emissions-to-Liquids (ETL) technology, transforming waste carbon dioxide and hydrogen gases into sustainable, commercial-grade methanol. The facility is built to recycle 150,000 tons of carbon dioxide sourced from waste streams at the large petrochemical complex each year, significantly reducing emissions that would have otherwise been released into the atmosphere.
The plant has the capacity to produce 100,000 tons of sustainable methanol annually – the second-largest CO2-to-methanol plant in the world. Used primarily to supply their olefins facility, this methanol will be used to produce chemical derivatives, including sustainable plastics and EVA coatings for solar panels. This will reduce the reliance on fossil-based methanol to drive more sustainable value chains and carbon footprint reduction initiatives across various sectors, such as industrial manufacturing and renewable energy.
Qian Xinhua, Vice President of Shenghong Petrochemical Industry Group, stated at the plant opening ceremony “This green industrial value chain project is a significant step forward. It uses advanced green and low-carbon technology to capture carbon dioxide and turn it into a resource. Further implementation of such technology allows us to combine green hydrogen, renewable energy, and more to create new materials, replacing the traditional raw materials used in the chemical industry.”
With the start-up of the Sailboat plant, CRI's ETL technology portfolio now has the capacity to recycle over 300,000 tons of CO2 annually (direct CO2). This is equivalent to the environmental impact of 15 million trees actively absorbing CO2 over the course of a year.
We remind, BASF, which has said it is seeking an exit from its energy business Wintershall Dea (WINT.UL), has attracted deal interest from companies including TotalEnergies and Equinor for the oil and gas unit. Chemicals giant BASF has been seeking to float Wintershall Dea, a joint venture in which Russian billionaire Mikhail Fridman's investment firm LetterOne holds a minority stake, on the stock exchange, but Russia's invasion in Ukraine has put those plans on ice.