CapCO2 Solutions signs MOU with Methylennium Energy for green methanol production
CapCO2 Solutions has signed an MOU with Methylennium Energy to help ethanol plants decarbonize by capturing waste CO2 and converting it into green methanol. This process reduces the carbon intensity (CI) score of ethanol and adds significant revenue for each plant. Green methanol, used in industries like shipping and aviation, is in high demand. The partnership will enable ethanol plants to produce low-carbon ethanol, which can sell at a premium. Their first green methanol site is expected to be operational by 2025.
October 16, 2024
BY CapCO2 Solutions
CapCO2 Solutions is excited to announced that we have signed a memorandum of understanding (MOU) with Methylennium Energy. Our CO2 capture and upgrade focus addresses the urgent need of ethanol plants to decarbonize – cutting their carbon intensity (CI) score in half while also adding $50 million in new revenue for each ethanol plant. We do all this without the use of eminent domain.
Green methanol is a new bio-based product (like ethanol) critical to the climate transition. Green methanol will replace fossil fuel in the shipping industry, and provide a starting point for a wide range of zero-carbon products like rigid plastics, seat covers, disposable diapers and more. Green methanol is also a crucial part of the emerging Sustainable Aviation Fuel (SAF) supply chain. Green methanol fuel is transported by rail or over the road by trucks to the customer.
Green methanol’s demand already far exceeds supply.
Crucial to the CapCO2 mission is the value we provide to ethanol plants: we capture their waste CO2 and use it to make the green methanol. Green methanol is a new and additional product for the ethanol plant. And the ethanol made on-site then qualifies as low-carbon. Low carbon ethanol sells for a 15-20% premium over regular ethanol, and makes the ethanol qualified for use in SAF. There is a huge value-add to the ethanol plant, new jobs for the local community, and reducing carbon emissions for the planet.
This collaboration is a valuable step forward for both companies. CapCO2 Solutions CEO Jeff Bonar explains, “We needed a company with technical, commercial, and business experience, ready and able to deliver a complete green methanol solution. Methylennium’s 15 years of experience with compact and efficient methanol equipment, their depth with the leveraging renewable energy, and their real world delivery experience are the perfect package. We are excited to bring MLE to the ethanol industry, allowing them to cut their CI score in half and bring new revenues.”
Max Lyubovsky, president and CEO of Methylennium Energy, is also excited to take the next steps with carbon capture and utilization, “At Methylennium we’ve spent decades developing next generation technologies to leverage captured CO2. With soaring green methanol demand, our technology is ready for prime time. We are excited to work with CapCO2 and the ethanol industry to open up new markets.”
Methylennium Energy brings patented technology to utilize waste CO2 at ethanol facilities and upgrade it onsite to green methanol. Their technology is made from modular components that will be manufactured in the USA, delivered to ethanol plants and assembled there.
The duo of U.S.-based companies are finalizing plans for the first green methanol production site to be operational in 2025.
Source Link : https://ethanolproducer.com/articles/capco2-solutions-signs-mou-with-methylennium-energy-for-green-methanol-production
