FORTUM CORPORATION ONLINE NEWS
Project Air, a cooperation project with Perstorp, Fortum and Uniper in Sweden, is taking significant next steps in developing sustainable methanol for the chemical industry. The project has been selected for funding by the EU innovation fund.
Project Air aims to move the chemical industry from using fossil raw materials to recycled and bio-based feedstock, thereby enabling sustainable chemical products to a large variety of industries and end products. At full capacity, it will reduce 500,000 tons of CO2 emissions, corresponding to one per cent of current emissions in Sweden.
Project Air is based on the innovative usage of existing technology in a large-scale industrial application. To produce sustainable methanol, the facility converts CO2, residue streams, renewable hydrogen and biogas to methanol. Further, existing wastewater treatment will be utilized as feed water for the electrolysis. All electrical energy for the project will be renewable. The ambition is to start up large-scale production by 2026.
The consortium behind Project Air now enters the Grant Agreement Preparation process, which is to be completed during the fourth quarter. The consortium has applied for EUR 97 million, and the total investment is expected to amount to more than EUR 230 million.
Project Air represents a combination of truly innovative thinking and hard work that will help us to reach the Paris Agreement targets by 2050.
Fortum News Desk, newsdesk [at] fortum [dot] com, +358 40 198 2843