Icelandic gas-to-liquids (GtL) technology developer Carbon Recycling International hf (CRI) has announced that it has recently signed an agreement with the Chinese chemicals corporation Henan Shuncheng Group to design a facility based on CRI’s carbon dioxide (CO2) to methanol technology that will produce low carbon intensity methanol in China.
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The new Shuncheng plant, which will be built in Anyang city, Henan province of China, will recycle about 150 000 tonnes of carbon dioxide (CO2) per annum along with other waste gases to produce 180 000 tonnes of methanol and liquefied natural gas (LNG) annually.
Commissioning is expected by the end of 2021. The total cost of the project is estimated at around US$90 million (ISK 10 billion).
CRI’s majority-owned joint venture CRI Ji Xin with local partners in Shanghai, China established the project with Shuncheng. However, all design of the CO2-to-methanol process – CRI’s “Emissions-to-Liquids” (ETL) – engineering and project execution will be performed by CRI.
Our unique experience in designing, constructing and operating comparable plants in Iceland and Germany, enables us to build commercial-scale plants, which will be profitable for our clients and cause a significant reduction in the emission of greenhouse gases. An agreement with a large Chinese chemical manufacturer such as Shuncheng Group shows CRI’s global technology leadership in the CO2 capture and utilization (CCU) industry and how we enable energy companies and chemical producers to recycle waste into products, reducing pollution while supporting a circular economy, said Sindri Sindrason, CEO of CRI.