EU Innovation Fund Gives Positive Feedback to AIR Project for Sustainable Methanol Production

Perstorp is planning large-scale sustainable methanol production from captured carbon dioxide and other residual streams. This could make a significant contribution to an industry that does not harm the climate. Project AIR, which Perstorp has created together with its partners, has been approved for the next evaluation stage by the EU Innovation Fund, one of the world's largest financing programs for demonstrating innovative low-carbon technologies.

Jan Secher, President and CEO of Perstorp, said: "The positive response from the EU Innovation Fund means we have taken another step closer to completing our goal of becoming 'Finite Material Neutral'. The AIR Project is a concrete example of the transition to a circular economy and how significant a reduction in CO2 emissions can be achieved by using existing resources and closing loops."

[caption id="attachment_124189" align="aligncenter"] (Photo: Perstorp)[/caption]

The AIR Project is a unique large-scale project that will reduce annual carbon emissions to the atmosphere by half a million tons by 2025. This will be accomplished by creating one of the world's largest Carbon Capture and Utilization Units at Perstorp's facility in Stenungsund, Sweden. Using a new electrolysis facility and biogas as a feedstock, it will produce 200,000 tons of sustainable methanol annually and supply sustainable chemical products to a wide range of sectors and end products.

Perstorp, together with its partners Fortum and Uniper, applied to the EU Innovation Fund for Project AIR support. In an initial evaluation from the Fund, Project AIR received the highest possible score in the Greenhouse Gas Prevention and Innovation Degree categories, achieving 14 out of a total of 15 points. Therefore, the AIR Project has been selected for further evaluation for financing.

In its evaluation regarding the AIR Project, the EU Innovation Fund states that the proposed large-scale sustainable methanol production demonstrates flexibility and increased efficiency in the use of different feedstocks (for example, bio-methane, refinery off-gas, CO2 waste streams) for the first time.

"Additionally, the cyclical production of methanol uses recycled carbon sources along with captured CO2. Furthermore, the proposed facility will use wastewater instead of municipal water as a feedstock in the electrolysis station. Wastewater is not used as a feedstock in other commercial electrolyzers. The proposal represents groundbreaking innovation. Moreover, the project's integration processes, production, control and operations have not been demonstrated elsewhere; this is a kind of first and a turning point. This is excellent." These statements are included.

The EU Innovation Fund is expected to make a final decision on which projects will be financed later this year.