Stenungsund, Sweden – Project Air, a collaboration between Perstorp, Fortnum and Uniper to produce sustainable methanol, has been selected as one of 17 large-scale green technology projects that will share a European Union Innovation Fund (EUIF) grant of more than €1.8bn.
Project Air, which will be based in a new production facility in Stenungsund, has applied for €97m funding from EUIF. Total investment in the project is expected to exceed €230 million.
Project Air aims to towards recycled and bio-based feedstocks for chemicals manufacture. Perstorp claims that when Project Air reaches full capacity it will reduce global CO2 emissions by up to 500kT from today’s levels, equivalent to 1% of Sweden’s current CO2 emissions.
‘The Innovation Fund’s decision shows that Project Air is an important future investment for the climate,’ said Jan Secher, Perstorp’s president and CEO. ‘This is a crucial decision for Perstorp, our customers and partners, as it creates increased availability of sustainable chemical products throughout our value chains. The chemical industry needs the carbons, but it must be non-fossil carbons and they must be put into circular flows so we get rid of CO2 in the atmosphere.’
To produce sustainable methanol, the Project Air facility will use CO2 recovered from Perstorp’s existing plants, biogas from new dedicated plants and hydrogen from a new large electrolysis plant. Existing treated wastewater will be used as feedwater for the electrolysis. And all electrical energy for the combined project will come from renewable sources.
Large-scale production is scheduled to be operational by 2026. Project Air will be built alongside Perstorp’s existing facilities in Stenungsund, part of the regional chemicals industry cluster Hållbar Kemi 2030. The project received about SEK295m from Swedish energy agency Industriklivet in July 2021.