In South Korea, CARBONCO, a company specializing in decarbonization solutions said it will engage in the Jeju Island Green Methanol Production Project.
CARBONCO announced that it has signed an agreement with Jeju Energy Corporation, Gaoncell, and ThyssenKrupp to produce e-methanol using environmentally favorable energy sources.
Under the agreement, Jeju Energy Corporation will supply renewable energy by harnessing wind power and other renewable sources. This renewable energy will be used to produce green hydrogen through the electrolysis of water into oxygen and hydrogen, the firm said.
Sang-min Lee, CEO of CARBONCO, said: “The e-fuel market, including e-methanol, is expanding on a global scale as a method to utilize captured carbon dioxide. Based on the synergy effects acquired via this partnership, we will evolve into a company that can deliver more diversified solutions across the value chain for carbon capture, utilization, and storage.”
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