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On October 29th, Iceland Carbon Cycle International (hereinafter referred to as CRI) signed a technology licensing agreement with China Tianying Group. China Tianying Group will apply CRI's patented technology to build China's first large-scale project to produce green methanol from CRI's carbon dioxide in Liaoyuan, Jilin Province. The annual production capacity of green methanol in the first phase of the project will reach 170,000 tons.

It is reported that the agreement signed by both sides this time includes CRI's technology licensing, engineering design, catalyst and supply of proprietary equipment. The project will adopt CRI 's carbon dioxide hydrogenation To methanol technology (emission-to -Liquids, hereinafter referred to as ETL technology), using green hydrogen produced by electrolyzing water with renewable energy and carbon captured from biomass to produce green methanol. After its completion, the project will become China's first factory to apply wind and solar renewable energy and adopt ETL technology. It is expected that the first phase of the project will be put into operation in 2025.

In his video address, Iceland's Minister of Environment, Energy and Climate, Gvizlegur Sol Soldasson, said that the cooperation between Icelandic and Chinese enterprises this time reflects the firm commitment of both sides to sustainable development. The success of this project will further promote international cooperation and contribute to the decarbonization of industry.

We are very glad to cooperate with China Tianying Group to jointly promote this world-class green methanol project. Our ETL technology will play a core role in future sustainable energy production, and this project will become a new benchmark for environmental protection and outstanding performance. We are jointly creating a new chapter of green chemical production with China Tianying Group." Lot Rosenberg, the CEO of CRI, believes that the cooperation project between the two sides represents a transformation in the mode of economic and industrial growth. CRI's ETL technology has unique advantages that can support this transformation by combining renewable energy with captured carbon dioxide to produce low-carbon and green methanol. By promoting innovation and cooperation, CRI and China Tianying Group can lay the foundation for sustained economic growth in the future.

Cao Debiao, the president of China Tianying Co., LTD., stated that the cooperation with CRI is a crucial step in promoting the realization of the strategic goals of Chinese enterprises. He hopes that the technical personnel of both sides will join hands and work together to create a national modern energy project benchmark that leads the world. In the future, China Tianying Group will also cooperate with CRI to build more clean energy-related projects in Jilin, Heilongjiang, Inner Mongolia and other places.

The China Tianying Liaoyuan Project is not only an active response to China's dual carbon strategy, but also a leader in promoting new industrialization and cultivating new quality productive forces in Northeast China. It is hoped that this signing will serve as a new starting point, further deepening the cooperation between China Tianying and EU enterprises in key areas such as environmental protection and chemical engineering, strengthening complementary advantages, mutually beneficial and win-win cooperation, and injecting stronger impetus into green and sustainable development. The technical representative of China Tianying Co., Ltd. said.

It is reported that the two green methanol plants in Anyang and Lianyungang, Henan Province, which were built using CRI's ETL technology, have both been put into commercial operation, with a cumulative annual output of green methanol exceeding 200,000 tons. Among them, some green methanol products have been used as fuel substitutes for heavy-duty logistics trucks and also as torch fuel for the 2023 Hangzhou Asian Games.