Finland – The EU Innovation Fund has chosen to fund Project Air, a collaboration project with Perstorp, Fortum, and Uniper that will take important next steps in developing sustainable methanol for the chemical industry.
In order to make sustainable chemical products available to a wide range of industries and end products, Project Air seeks to transition the chemical industry away from using fossil raw materials and toward recycled and bio-based feedstock. When operating at full capacity, it will cut global CO2 emissions by close to 500,000 tons from current levels, which is equal to 1% of Sweden’s current emissions.
Meeting targets
The foundation of Project Air is the creative application of current technology in a significant industrial setting. The facility transforms CO2, waste streams, renewable hydrogen, and biogas into sustainable methanol. Additionally, existing wastewater treatment will be used as the electrolysis’s feed water. For the project, only renewable sources of electricity will be used. By 2026, it is hoped to begin large-scale production.
The grant agreement preparation process, which must be finished in the fourth quarter, is now being entered into by the consortium behind Project Air. The consortium has requested 97 million euros, and more than 230 million euros should be invested overall. By combining truly original thinking with diligent work, Project Air will enable us to meet the Paris Agreement targets by 2050.
