Iceland-headed emissions-to-liquids (ETL) technology developer Carbon Recycling International hf (CRI) has announced that it has signed an agreement with Jiangsu Sailboat Petrochemicals Co. Ltd, a subsidiary of Chinese petrochemical major Shenghong Petrochemical Group Co., Ltd to design a 100 000 tonne-per-annum recycled carbon methanol plant based on CRI’s proprietary ETL technology.
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The Jiangsu Sailboat Green Methanol plant will be built in Lianyungang, Jiangsu Province on the east coast of China, integrated into the 15 km2 Shenghong Petrochemical Industrial Park, one of Chinas largest petrochemical sites.
Here Jiangsu Sailboat produces ethylene and propylene in the world’s largest methanol-to-olefins (MTO) process plant for downstream processing into 2.4 million tonnes per annum of a wide range of polymers and plastics, including products used for making solar panels and plexiglass.
The green methanol plant will recycle approximately 150 000 tonnes of carbon dioxide (CO2) and 20 000 tonnes of hydrogen (H2) annually captured from other onsite processes to produce 100 000 tonnes of methanol annually. Indirect emission savings from avoiding the use of fossil raw materials is estimated to be as high as 550 000 tonnes annually.
This project is perfectly aligned with Shenghong Petrochemical’s strategy to vigorously develop the circular economy. We strive to achieve safe development, low emissions, and efficient resource use through cyclic utilization. This is a major step in our efforts to build a green industrial value chain to make the best use of everything, achieve clean production and become the world’s first-rate ecological, intelligent and safe petrochemical enterprise, said Wei Bai, CEO of Jiangsu Sailboat.
The plant will be owned and operated by Jiangsu Sailboat and is expected to begin its operation in 2023. The cost of the project is estimated at around RMB 225 million (≈ US$35 million).
Second CRI project in China
This project will be the second in China based on CRI’s ETL technology. The first CRI project, the Shunli plant in Anyang, Henan Province, is currently in the final stages of construction and is expected to be in operation early next year.
CRI, with its local JV partner MFE, will facilitate the project execution, providing design, engineering, and technology license for the CO2-to-methanol process along with key proprietary equipment and related services.
This agreement is exemplary of what the chemical industry can do to contribute to the fight against climate change. By utilizing waste and by-product resources in an innovative way we can take the necessary steps to reduce emissions and replace traditional fossil fuels in the production of most of our consumer products, said Ingolfur Gudmundsson, CEO of CRI.
