Cortus Energy has signed an agreement with the Norwegian company Glocal Green AS after completing technical verification of gasification of forest residues for the production of renewable methanol for shipping.
he parties are currently working on two projects, one in Ålesund and the other in Øyer. The choice of renewable methanol is based on the capacity for energy storage on ships, security and logistics but also on the fact that it is possible to convert ships that currently run on fossil fuels to methanol operation.
As the companies explained, the aim of the preliminary agreement is to accelerate the design of two green methanol plants and ensure their financing. The situation for biofuels in Norway is said to be favorable.
What is more, both biological residues that are not used and residues that are currently exported can instead be used regionally for value creation through the production of renewable methanol.
The parties believe that the two projects will be implemented and expect a first engineering order for Cortus’ WoodRoll 2.0 technology during the second half of 2022.
The positioning in the market for renewable fuels is further strengthened with this Norwegian collaboration
Håkan Sigfridsson, CEO of Cortus, said.