Carbon Recycling International has enjoyed a turnover growth of 440% since 2013
In collaboration with Geely Holdings and Zixin Industrial Co., CRI has incorporated a joint venture in China under the name CRI Ji Xin.
CRI, in collaboration with its Chinese partners Geely, has completed a joint fleet test program to run six Geely M100 Methanol cars on CRI's brand of renewable methanol in Iceland -Vulcanol(TM) which is the most advanced methanol fuel available on the market. CRI managed the implementation of the program in Iceland with local partners, Brimborg car dealership and service provider.
The regular looking sedan, goes by the name Geely Emigrand M100. It is equipped with two fuel tanks, one for renewable methanol and other for gasoline which is used for cold starts only. The Emigrand's interior and features are the same as in vehicles fuelled by other energy sources, including leather seats, comfortable leg room as well as a back-up camera and key-less entry.
Having been in daily use in Iceland by CRI staff and external drivers since April 2016, the cars have demonstrated positive performance both from an environmental and an economic perspective. With more than 70% reduction in CO2 emissions compared to cars running on traditional fossil fuels, the Geely Emigrand exhibits the critical implications methanol-fuelled transport can have on the development of a more sustainable future.
Economically, the cars are comparable to conventional similar sized cars, whether they run on fossil fuel or electric powered motors, or a hybrid of the two.
The achieved results give reason to proceed to further trials, involving more vehicles from Geely being imported to Iceland. We at CRI are proud to be active participants in the project which has great potential to prove relevant to governments seeking to comply with their obligations of lowering CO2 emissions.
On Thursday October 12th, CRI was honored to receive a visit from First
Minister of Scotland, Ms. Nicola Sturgeon, to Carbon Recycling
International's George Olah CO2-to-methanol plant.
The First Minister came to Iceland to attend the Arctic Circle Assembly, an
annual gathering in Reykjavik of governments, organizations and
corporations with an interest in securing a sustainable future for the
Director of Sales and Marketing at CRI, Ómar Sigurbjörnsson, took Ms.
Sturgeon and her staff on a tour of the production plant and explained
CRI's unique process, which produces renewable methanol by combining
CO2 and hydrogen, generated from water with electricity from renewable
sources. The plant is the first of its kind and demonstrates the technical and
economic feasibility of production of low carbon intensity fuels and
chemicals with carbon capture and utilization.
When asked about the potential for collaboration between Scotland and
Iceland in a subsequent interview with Icelandic Channel 2 TV, Ms. Sturgeon
said "...I went to visit Carbon Recycling International, out near the
Blue lagoon, and learned a lot there about how they're using CO2 to
create methanol clean energy. There's a lot for us to learn there."
At the Artic Circle Assembly, the Minister remarked “...with
Scotland employing almost 60,000 people in low carbon industries,
there is still scope for significant further growth. Our northern
nation neighbours are obvious partners in this. Scotland is taking an
increasingly prominent role in the work of the Arctic Circle Assembly
and associated cooperation, and I believe there are clear benefits for
us all by forming closer ties.”