Methanol Plant

Carbon Recycling International’s (CRI) methanol plant, which produces around 2 million liters of Renewable Methanol (RM) per annum, was completed at the end of 2011. CRI plans to expand the plant to produce more than 5 million liters a year.  Carbon dioxide emission from the Svartsengi geothermal plant is now used in the methanol production to reclaim 4500 tons of carbon dioxide a year from the atmosphere. The production process is clean and the sole byproduct is oxygen.

Emissions of CO₂ will become more expensive as the European Trading Scheme for carbon dioxide matures in Europe. CRI will be in position to derive revenues from the carbon credit and renewable fuel markets. RM can potentially be a sustainable source of renewable fuel for Iceland and Europe. Production of RM by harnessing Iceland's geothermal energy is reproducible in many similar locations around the world. CRI plans to construct a larger plant in Iceland that will produce up to 50 million liters of RM per year for export to other European countries. RM is a renewable fuel as established by the Renewable Energy Directives of the European Union. RM is therefore one viable solution to the EU's demand for renewable fuel.