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CASE STUDY: CARBON RECYCLING INTERNATIONAL Renewable production of methanol at Carbon Recycling International’s George Olah plant in Iceland Carbon Recycling International (CRI) has successfully established a renewable methanol plant near Iceland’s Blue Lagoon. The famous lagoon’s water flows from the nearby Svartsengi geothermal power station: CRI’s methanol plant harnesses a portion of Svartsengi’s waste carbon dioxide and uses renewable energy from the Icelandic grid to produce hydrogen from the electrolysis of water. The CRI plant is named after Nobel prize-winning chemist George A. Olah (1927-2017) who pioneered the idea of the methanol economy. His vision inspires the CRI plant, which uses 5,600 metric tons of carbon dioxide piped from Svartsengi every year. The Icelandic grid, powered by hydro and geothermal energy, provides green electricity for the process of splitting water into hydrogen and oxygen. 4,000 metric tons of synthesized methanol (CRI calls it Vulcanol) are produced annually. Vulcanol is a clean burning, high octane fuel. It can used directly as a vehicle fuel or blended with gasoline. It can also be used as a feedstock for producing bio-diesel or fuel ethers and as a hydrocarbon feedstock for further production of synthetic materials. CRI supplies it to companies in Iceland, Sweden, the Netherlands, the UK and China. Unlike biofuels, CRI’s renewable methanol doesn’t use any fossil fuel inputs or agricultural resources as feedstocks. According to CRI, “Vulcanol from our current production plant reduces carbon emissions by more than 90% compared to fossil fuels, in the complete product life-cycle, from extraction, production to end use. The process is certified by SGS Germany according to the ISCC Plus system, based on standard ISCC EU methodology for calculation of GHG [greenhouse gas] emissions in the product life-cycle.”18 CRI’s George Olah Renewable Methanol Plant is the largest carbon dioxide methanol plant in the world. The company is ranked among the fastest growing technology companies in Europe19, with turnover up 440% between 2013 and 2017. CRI has partnered with Geely Holdings and Zixin Industrial Co to promote and establish renewable methanol production facilities in China. Geely and CRI, in collaboration with local companies, have also conducted a long-term fleet test of Geely’s 100% methanol powered cars in Iceland running on Vulcanol. The cars were driven over 150,000 kilometers during an 18-month period, and study participants reported virtually no difference in driving experience compared to regular gasoline or diesel fueled cars. 18 Carbon Recycling International: http://carbonrecycling.is/vulcanol/ accessed 11/07/18 19 Deloitte Renewable Methanol Report www.methanol.org 15 The Icelandic grid, powered by hydro and geothermal energy, provides green electricity for the process of splitting water into hydrogen and oxygen.PDF Image | Renewable Methanol Report
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