Carbon Recycling International (CRI) and Dastur Energy enter into a partnership agreement for the development of CO2 to methanol projects in India

NEW YORK & AUSTIN, Texas & NEW DELHI & REYKJAVIK, Iceland–(BUSINESS WIRE)–Icelandic environmental technology company Carbon Recycling International (CRI) and Dastur Energy Pvt Ltd, the Indian subsidiary of the American company Dastur Energy and part of the Dastur group of companies, have signed an important partnership agreement for marketing, commercial development, technology licensing, design and engineering of CO2 to methanol projects based on CRI’s ETL technology in India.

Carbon Recycling International (CRI) has established a unique position over the past 15 years as a pioneer in the utilization of global carbon dioxide emissions. The company’s ETL technology is based on the conversion of carbon dioxide emitted by industry into methanol, which replaces petroleum feedstocks and has a much lower environmental impact.

Dastur is a leading international consulting engineering company founded in 1955 and specializing in the metals, mining, infrastructure and energy industries. Its head office is in Kolkata, India, with offices around the world. Dastur Energy, specializing in clean energy and energy infrastructure projects, is India’s leading organization in the field of carbon capture and industrial decarbonization.

Methanol sales in India are growing rapidly and now stand at around 2.5 million tonnes per year. The market size is expected to reach over 7.5 million tons per year within 10 years. The Indian government supports the increased use of methanol as a fuel with the aim of reducing air pollution and greenhouse gas emissions and increasing the share of domestic energy sources in the economy.

“Economically viable methods of using carbon dioxide are key to accelerating global efforts to reduce carbon emissions. We see significant opportunities in India for sustainably produced methanol. CRI’s ETL technology solution is one of the most advanced in the world today. We are delighted to collaborate with CRI to bring this unique technology to progressive Indian companies in the public and private sectors, who are looking for green methanol as part of their product offering,” said Atanu Mukherjee, CEO of Dastur Energy and Dastur.

CRI has two major ongoing projects based on its ETL technology. The two plants currently under construction in China will each produce more than 100,000 tonnes of methanol per year. by directly reusing 150,000 tons of carbon dioxide per year as raw material.

“A strong partnership between CRI and Dastur helps accelerate the introduction and deployment of our sustainable technology solutions in a new market where there are great opportunities for growth. Environmentally friendly technologies such as that developed by CRI will play a key role in the essential transformations of the industry and energy markets to come. It will be a pleasure to see Icelandic environmental technology in the Indian market,” said Björk Kristjánsdóttir, CEO of CRI.