Industrial partners to develop first of its kind eMethanol plant in Norway
Statkraft AS, Finnfjord AS and Carbon Recycling International (CRI) announce joint development of a commercial scale eMethanol plant in Norway.
The project partners Statkraft, Finnfjord and CRI are jointly developing the first-of-its-kind commercial scale facility capable of producing 100.000 tons per year of eMethanol. The plant will use as raw material CO2 captured from the emissions of the Finnfjord ferrosilicon plant and hydrogen generated from the electrolysis of water using renewable electricity.
CRI will use its proprietary Emissions-to-Liquids (ETL) technology. This process has been successfully demonstrated at industrial scale since 2012 in Iceland. The project co-located at Finnfjords production site in northern Norway will be a scaled-up version using proven technology.
Co-locating carbon utilisation projects
Finnfjord is already one of the world’s most energy efficient ferrosilicon producers and has an ambitious aim towards achieving carbon neutrality. In addition to the eMethanol plant Finnfjord is also developing plans to use its CO2 to produce up 75 000 tonnes of algae biomass. The plan to capture and re-use 300,000 tonnes per year of carbon dioxide from the process will reduce emissions equivalent to the permanently removal of over 100,000 fossil fuelled cars from the road. The co-locationng of these carbon utilisation projects at the Finnfjord site brings additional benefits through shared infrastructure and efficient energy utilisation, supporting industrial innovation and the circular economy.
Statkraft brings its long experience of energy management competencies to the project and has the ambition to develop renewable, hydrogen-based value chains in Norway.
The project will contribute to clean and sustainable industrial growth in Northern Norway, leveraging key Norwegian strengths like:
- an abundant supply of renewable energy
- a forward-thinking process industry actively working to reduce emissions
- strong technological expertise and experience in the areas of energy management, carbon capture and electrolysis.
Financial support required
The e-methanol plant will be a first-of-a-kind scaled-up facility and financial support of up to around 50% is required in order to compete with fossil-based alternatives. Funding is required to support the deployment of this technology, but cost reductions are expected for future facilities as well as an increased cost of emitting CO2 will promote the further use of the technology.
A final investment decision is expected to be made in 2021 and project construction is expected to take around two years.