Carbon Recycling International (CRI) and Dastur Energy Collaborate to Develop CO2 to Methanol Projects in India
Carbon Recycling International (CRI) of Iceland and Dastur Energy Pvt Ltd, the Indian subsidiary of US-based Dastur Energy and a part of the Dastur group of companies, have signed an important partnership agreement for marketing, business development, technology licencing, design, and engineering of CO2 to Methanol projects in India based on CRI's ETL technology.
Carbon Recycling International (CRI) has developed a unique position as a pioneer in the utilisation of global carbon dioxide emissions over the past 15 years. The company's ETL technology is based on the conversion of industrial carbon dioxide into methanol, which replaces petroleum raw materials and has a far lower environmental impact.
Dastur is a renowned multinational consulting engineering firm formed in 1955 that specialises in metals, mining, infrastructure, and energy. It is headquartered in Kolkata, India, and has offices all around the world. Dastur Energy is India's premier company in the field of carbon capture and industrial decarbonisation, specialising in clean energy and energy infrastructure projects.
Methanol sales in India are quickly increasing, reaching roughly 2.5 million tonnes per year. Within the next ten years, the market is predicted to grow to more than 7.5 million tonnes per year. The Indian government encourages expanded methanol fuel use to reduce air pollution and greenhouse gas emissions while expanding the role of domestic energy sources in the economy.
Atanu Mukherjee, CEO of Dastur Energy and Dastur, said:
"Economically viable methods for utilising carbon dioxide are key to accelerating global efforts to reduce carbon emissions. We see significant opportunities in India for methanol produced sustainably. CRI's ETL technology solution is one of the most advanced in the world today. We are delighted to collaborate with CRI to bring this unique technology to progressive Indian companies in the public and private sectors, who are seeking green methanol as part of their product offering."
CRI is working on two large projects based on their ETL technology. The two plants in China that are now under construction will each produce more than 100,000 tonnes of methanol per year. 150,000 metric tonnes of carbon dioxide are directly re-used as raw material each year.
Björk Kristjánsdóttir, CEO of CRI, said:
"A strong partnership between CRI and Dastur makes it possible to accelerate the introduction and deployment of our sustainable technology solutions to a new market where there are great growth opportunities. Environmentally friendly technologies such as the one developed by CRI will play a key role in the essential transformations in industry and energy markets ahead. It will be a pleasure to see Icelandic environmental technology in the Indian market."
Source: Business Wire