Perstorp has submitted almost €100 million to the EU Innovation Fund for a production plant of sustainable methanol.
Perstorp has recently announced that it is partnering with Fortum and Uniper in order to submit a €97 million application to the Innovation Fund of the European Union for Project Air. The company is aiming to build a production site in Stenungsund (Sweden) for sustainable methanol.
Sustainable methanol can be used to manufacture chemical products with thousands of applications, enabling an improved climate footprint in several value chains. The project will employ the innovative usage of biogas, hydrogen from electrolysis and residue streams and carbon dioxide recovered from Perstorp’s facilities, allowing to reduce global CO2 emissions by 400,000 tonnes, equivalent to approximately 1% of Sweden’s territorial emissions.
“The chemicals industry is a key player in the sustainable transformation of society. Making Project Air a reality is an urgent priority for Perstorp, our customers, and partners as it creates increased availability of sustainable chemical products throughout our value chains. This project is a unique opportunity, but also a challenge for Swedish industry and energy policy. It is one of several industrial transformation projects seeking to use biogas as a raw material, and Sweden should take steps to stimulate a sufficient supply for these purposes,” stated Jan Secher, the president and CEO of Perstorp.
The joint venture hopes to achieve large-scale production by 2026. However, Perstorp is also investigating alternate modes of future funding. The total investment in Project Air is expected to be of around €236,3 million.