PCC SE, a German investment company, and Iceland’s power company Landsvirkjun have agreed on a new climate protection cooperation in order to convert CO2 emissions into green methanol to decarbonize shipping and other industries.
As informed, the companies commit themselves in a Memorandum of Understanding (MoU) to jointly explore the possibility of capturing and utilizing CO2 emissions from PCC’s silicon metal plant in northeast Iceland. These CO2 emissions will be utilized to produce green methanol that can replace fossil fuel in ships and industry and thus contribute to their decarbonization.
Accordingly, green methanol is seen as a promising alternative energy carrier and has the potential to play a key role in decarbonizing shipping vessels. The process of methanol synthesis requires the input of pure carbon dioxide and hydrogen from water electrolysis, with the only by-product being oxygen and water.
Turning carbon dioxide from waste into a valuable resource by utilizing and producing fuel for industries will help mitigate climate change and the transition to a circular economy.
PCC SE aims for their silicon metal plant at Húsavík to become carbon neutral by replacing fossil carbon reductants in their production with renewable alternatives. According to the company, the plant at Bakki emits about 150,000 tonnes of carbon dioxide annually due to the nature of the chemical reaction that reduces quartzite (SiO2) with a carbon reductant to produce silicon metal.
Catching and utilizing the emitted renewable carbon to produce green methanol would improve the carbon footprint of ships and industry utilizing such fuel and on top improve the carbon footprint of PCC’s silicon metal plant beyond carbon neutrality.
We are ready to take the next step at PCC BakkiSilicon; capture CO2 emissions from our production and utilize them for the energy transition. Our operations are already on track for carbon neutrality, but the production of green methanol, which can be used as maritime fuel, would be a milestone
…Peter Wenzel, CEO PCC SE, said.
We at Landsvirkjun welcome the opportunity to collaborate on a green solution with a good customer. The energy transition is urgent, especially in the fleet. If we can use our renewable electricity to produce green methanol at PCC BakkiSilicon, we are one step closer to a green future
…Hörður Arnarson, CEO Landsvirkjun, said.
