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Johnson Matthey to supply technology to methanol plant
StockMarketWire.com
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Johnson Matthey has agreed to supply cutting-edge technologies, equipment and advisory services to the worlds first methanol plant to harness energy from the wind, the Haru Oni project in Patagonia, Chile.
The Haru Oni project, which is being developed by Siemens Energy in partnership with Johnson Matthey and several other major corporations, including Porsche, will become the worlds first integrated and commercial large-scale plant to produce climate neutral e-methanol & e-gasoline.
Advancing the production of e-fuels is an important step in the energy transition, as e-fuels offer similar performance to gasoline and diesel but are produced using renewable energy.
As a solutions provider for syngas decarbonisation, JM will license methanol technology and supply the engineering, catalyst and equipment for the ground breaking project. The JM designed unit will take atmospheric carbon dioxide as feedstock for the conversion to e-methanol.
This carbon dioxide will be recovered by direct air capture and combined with green hydrogen (produced from water proton exchange membrane (PEM) electrolysis). Using JMs latest innovative catalyst, the pilot unit will further demonstrate JMs lead in the area of green chemicals and fuels, and commitment to decarbonisation and sustainability.
In Haru Onis initial pilot phase, the unit will be capable of producing around 900,000 litres per year of e-methanol as early as 2022. In two further phases, capacity is then to be increased to about 55 million litres of e-fuels a year by 2024, and around 550 million litres of e-fuels by 2026, sufficient for about 220,000 gasoline vehicles at 50 litres use per week.
At 1:15pm: (LON:JMAT) Johnson Matthey PLC share price was 0p at 2490p
Story provided by StockMarketWire.com
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