Project Air gets €97 million grant from EU Innovation Fund

CCUS Energy Hydrogen

Germany – An agreement providing Project Air €97 million from the Innovation Fund has been signed by Perstorp, a fully owned subsidiary of PETRONAS Chemicals Group Berhad (PCG), Uniper, a German energy firm, and the European Climate, Infrastructure, and Environment Executive Agency (CINEA).

The project will be given the money it needs to make the carbon-neutralization of the technology it developed for the European chemicals sector possible.

In order to produce sustainable methanol on a big scale for the first time, Project Air combines a carbon capture and utilisation (CCU) technology for converting CO2, residual streams, renewable hydrogen, and biomethane.

Avoiding GHG emissions

In comparison to traditional methanol synthesis, it is anticipated to result in a relative decrease of 123% in the avoidance of greenhouse gas (GHG) emissions.

Additionally, it is anticipated to have a significant impact along numerous industrial value chains and help remove Europe’s reliance on imported fossil fuels, according to Uniper.