Fortum’s and Perstorp’s project for sustainable methanol receives EUR 30 million from the Swedish Energy Agency
FORTUM CORPORATION ONLINE RELEASE 23.06.2021
Swedish Project Air has received a funding of approximately EUR 30 million from the Swedish Energy Agency. Project Air is an initiative to transform the chemical industry with circular production methods towards a climate neutral chemical industry. Perstorp Group with partners Fortum and Uniper will produce sustainable methanol for chemical production using residue streams and renewable raw material.
Project Air aims to create the first-of-a-kind, large-scale, commercial, sustainable methanol plant that uses a Carbon Capture and Utilization (CCU) process for converting CO2, residue streams, renewable hydrogen and biomethane to methanol. The plant would substitute all the 200,000 tons of fossil methanol that Perstorp uses annually in Europe as a raw material for chemical products, thus reducing greenhouse gas emissions by up to 500,000 tons annually. The goal is to start producing sustainable methanol in 2025.
The project supports Fortum’s strategy to partner with industrial and infrastructure customers to help them reduce the emissions of their operations.
In March earlier this year, Project Air was approved for the next level of evaluation within the frame of the EU Innovation Fund, one of the world’s largest funding programs for the demonstration of innovative low-carbon technologies. A final decision on what projects will be funded by the EU Innovation Fund is expected later this year.
Per-Oscar Hedman, Communications Manager, Sweden, email@example.com, +46 70 2147 545
Four Fortum projects shortlisted for EU innovation funding in low-carbon technologies:
Fortum is a European energy company with activities in more than 40 countries. We provide our customers with electricity, gas, heating and cooling as well as smart solutions to improve resource efficiency. Together with our subsidiary Uniper, we are the third largest producer of CO2-free electricity in Europe. Close to 20,000 professionals and a combined balance sheet of approximately EUR 60 billion, we have the scale, competence and resources to grow and to drive the energy transition forward. Fortum's share is listed on Nasdaq Helsinki and Uniper's share on the Frankfurt Stock Exchange. www.fortum.com