China: 35 Million Dollar Project CRI Teams Up with Jiangsu Sailboat to Develop ‘CO2-to-Methanol’ Plant
Carbon Recycling International (CRI) has collaborated with Jiangsu Sailboat Petrochemicals to establish the Jiangsu Sailboat green methanol plant in China. Based on CRI’s ETL technology, the new unit is expected to recycle 150,000 metric tons of CO2 and 20,000 metric tons of H2 per year in order to produce 100,000 tons of methanol annually.
Beijing/China – Chinese petrochemicals corporation Jiangsu Sailboat Petrochemicals Co. has signed an agreement with Icelandic technology company Carbon Recycling International – CRI, to design a chemical plant based on CRI’s Emissions to Liquids (ETL) technology.
The plant will recycle approximately 150,000 metric tons of CO2 and 20,000 metric tons of H2 per year from other onsite processes to produce 100,000 tons of methanol annually. The Jiangsu Sailboat Green Methanol plant will be built in Lianyungang, Jiangsu province on the east coast of China, integrated into their 15 sq km Shenghong petrochemical industrial park.
The CRI ETL plant’s direct use of 150,000 metric tons of CO2 annually, will equal the effect of taking 53,000 fossil fueled cars off the roads. Indirect emission savings from avoiding the use of fossil raw materials is even larger, estimated to be as high as 550,000 tons per year. This is equivalent to 37,000 hectares of forest planting area, or 370 square kilometers of land.
Methanol is the main raw material used in Jiangsu Sailboat’s existing 2.4 million metric tons per year production of a wide product range of polymers and plastics. These include products used for making solar panels and plexiglass.
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 around 35 million dollars. 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 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.
“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 agreement was signed at parallel signing ceremonies held in Iceland and China and attended by both Chinese and Icelandic officials.