CRI and HS Orka sign new Power Purchase agreement

Carbon Recycling International (CRI) and HS Orka have signed a new and expanded Power Purchase agreement. HS Orka guarantees availability of sufficient power for CRI's expanded fuel production plant, which is located next to HS Orka's geothermal power plant in Svartsengi, Grindavik on the Reykjanes peninsula.

According to the agreement HS Orka will supply renewable power for the plant from July 1 2014.

Detailed design and engineering for CRI's plant expansion project are already underway. Construction will commence in Spring 2014 with commissioning of the new equipment in late Summer to Fall. The expansion will increase the production capacity of the plant by a factor of three, from 1.7 million liters annually to over 5 million liters.

CRI's production plant in Svartsengi is the first of its kind in the world, where carbon dioxide (CO2) from flue gas emissions is recycled using hydrogen produced through water electrolysis into renewable methanol, a green transport fuel and carbon neutral feedstock. Output from the plant is currently used directly as a blend component for standard petrol or as a feedstock for biodiesel from esterified vegetable oil or animal fats.