CapCO2 Solutions Signs MOU with Methylennium Energy for Green Methanol Production
PRESS RELEASE
CapCO2 Solutions Signs MOU with Methylennium Energy for Green Methanol Production
Next Generation Ethanol Industry Revenues from CO2 Utilization
For immediate distribution – October 15, 2024
CapCO2 Solutions is excited to announce that we have signed a memorandum of understanding (MOU) with Methylennium Energy. Our CO2 capture and upgrade focus addresses the urgent need of ethanol plants to decarbonize – cutting their carbon intensity (CI) score in half* while also adding $50 million in new revenue for each ethanol plant. We do all this without the use of eminent domain.
Green methanol is a new bio-based product (like ethanol) critical to the climate transition. Green methanol will replace fossil fuel in the shipping industry, and provide a starting point for a wide range of zero-carbon products like rigid plastics, seat covers, disposable diapers and more. Green methanol is also a crucial part of the emerging Sustainable Aviation Fuel (SAF) supply chain. Green methanol fuel is transported by rail or over the road by trucks to the customer.
Green methanol’s demand already far exceeds supply.
Crucial to the CapCO2 mission is the value we provide to ethanol plants: we capture their waste CO2 and use it to make the green methanol. Green methanol is a new and additional product for the ethanol plant. And the ethanol made on-site then qualifies as low-carbon. Low carbon ethanol sells for a 15-20% premium over regular ethanol, and makes the ethanol qualified for use in SAF. There is a huge value-add to the ethanol plant ,new jobs for the local community, and reducing carbon emissions for the planet.
This collaboration is a valuable step forward for both companies. CapCO2 Solutions CEO Dr. Jeff Bonar explains, “We needed a company with technical, commercial, and business experience, ready and able to deliver a complete green methanol solution. Methylennium’s 15 years of experience with compact and efficient methanol equipment, their depth with the leveraging renewable energy, and their real-world delivery experience are the perfect package. We are excited to MLE to the ethanol industry, allowing them to cut their CI score in half and bring new revenues.”
Dr. Max Lyubovsky, President and CEO of Methylennium Energy, is also excited to take the next steps with carbon capture and utilization, “At Methylennium we’ve spent decades developing next generation technologies to leverage captured CO2. With soaring green methanol demand, our technology is ready for prime time. We are excited to work with CapCO2 and the ethanol industry to open up new markets.”
Methylennium brings patented technology to utilize waste CO2 at ethanol facilities and upgrade it onsite to green methanol. Their technology is made from modular components that will be manufactured in the USA, delivered to ethanol plants and assembled there.
The duo of U.S.-based companies are finalizing plans for the first green methanol production site to be operational in 2025.
To schedule an interview with Drs. Bonar and Lyubovsky, contact CapCO2 Solutions Director of Outreach and Community Sally Hart at sally@capco2.solutions.
* CapCO2 Solutions brings a Carbon Intensity (CI) reduction of approximately 25 points at ethanol facilities. This is the conclusion of a third-party detailed GREET analysis. Results must be verified for each ethanol plant with a detailed analysis.
