Business Wire

Carbon Recycling International (CRI) and Dastur Energy Enter Into a Partnership Agreement for Developing CO2 to Methanol Projects in India

Share

Icelandic environmental technology company Carbon Recycling International (CRI) and Dastur Energy Pvt Ltd, the Indian subsidiary of US based Dastur Energy and a part of the Dastur group of companies, have signed an important partnership agreement for marketing, business development, technology licensing, design and engineering of CO2 to Methanol projects based on CRI’s ETL technology in India.

Carbon Recycling International (CRI) has for the past 15 years established a unique position as a pioneer in the utilization of global carbon dioxide emissions. The company's ETL technology is based on the conversion of carbon dioxide released by industry into methanol, which replaces petroleum raw materials and has a muchlower environmental impact.

Dastur is a leading international consulting engineering firm founded in 1955 focusing on the metals, mining, infrastructure and the energy industry. Its headquarters are in Kolkata, India, with offices around the world. Dastur Energy, specializes in clean energy and energy infrastructure projects and is India's leading organization in the field of carbon capture, and industrial decarbonization.

India's methanol sales are growing rapidly and are now around 2.5 million tonnes annually. The size of the market is expected to reach more than 7.5 million tonnes per year within 10 years. The Indian government supports the increased use of methanol as 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 for utilizing carbon dioxide are key to accelerating global efforts to reduce carbon emissions. We see significant opportunities in India for methanol produced sustainably. 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 seeking green methanol as part of their product offering", said Atanu Mukherjee, CEO of Dastur Energy and Dastur.

CRI has two major projects underway based on its ETL technology. The two plants currently under construction in China will each produce more than 100,000 tons of methanol per year,. directly re-using 150,000 metric tons of carbon dioxide annually as raw material .

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

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Dastur Energy
http://www.dasturenergy.com/

USA: Abhijit Sarkar
+1 512.823.0398
Abhijit.S@dasturenergy.com

India: Saurav Chatterjee
+91 98313 04985
Saurav.Ch@dastur.com

CRI
https://www.carbonrecycling.is/

Iceland: Omar Sigurbjornsson
+354 865 5736
omar@cri.is

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Rimini Street Appoints Steve Hershkowitz as Chief Revenue Officer24.4.2024 19:50:00 EEST | Press release

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products, and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced the appointment of Steve Hershkowitz as its new Chief Revenue Officer (CRO). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240424061249/en/ Rimini Street Appoints Steve Hershkowitz as Chief Revenue Officer (Photo: Business Wire) “Steve’s leadership and extensive experience scaling businesses to deliver top-line growth will expand our sales reach to capture new logos and increase our opportunity to provide even greater value to our clients,” said Rimini Street president and CEO Seth Ravin. “The global revenue team and I are excited to work closely together with Steve to drive growth and broader capabilities for our company.” Leading the Next Chapter of Sales Growth and Continued Success f

Hithium Hosts Roundtable at the BNEF Summit New York, Discussing Next Generation Battery Energy Storage System24.4.2024 19:00:00 EEST | Press release

From April 16th to 17th, the BloombergNEF (BNEF) Summit was held in New York, USA. The BNEF Summit brings together energy, finance, and technology professionals to facilitate the exchange of ideas, insights, and connections. This was Hithium's first time attending after its global launch in 2023. Hithium was also invited to host a roundtable discussion on the topic of "Next Generation Battery Energy Storage System: Latest Technology Trends and Impact on Project Economics," led by Hithium Director of Global Applications Engineering, Neil Bradshaw. The discussion focused on the future development trends of energy storage and included insights on Hithium's technology innovations, global application practices, and international development for global energy green transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423336349/en/ BNEF summit roundtable hosted by HiTHIUM (Photo: Business Wire) Hithium’s advantages on

LTIMindtree Closes FY24 with a Strong Order Inflow of $5.6 Bn; up 15.7% YoY24.4.2024 18:01:00 EEST | Press release

LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the fourth quarter and full year ended March 31, 2024, as approved by its Board of Directors. “We closed FY24 amidst a tough macro environment and delivered a resilient performance with full-year revenue growth of 4.4% in USD terms and an EBIT margin of 15.7%. Our order inflow for the full year at USD 5.6 billion registered a 15.7% growth over FY23. This growth reflects the positive outcomes of our positioning as an organization with scale, expanded capabilities, and larger partnerships. As the market dynamics evolve, we are excited to be part of innovations, partnerships, and initiatives that our clients will embark on in FY 25.” -Debashis Chatterjee, Chief Executive Officer and Managing Director Key financial highlights: Quarter ended March 31, 2024 In USD: - Revenue at $1,069.4 million (-1.3% Q-o-Q / +1.1% Y-o-Y) - Net profit at $132.4 mill

LYCRA® Brand Launches New Customizable Fit Solution at Kingpins Amsterdam24.4.2024 18:00:00 EEST | Press release

The LYCRA Company, a global leader in developing innovative and sustainable fiber and technology solutions for the apparel industry, announced the launch of a revolutionary new targeted shaping innovation for stretch denim at a press conference at Kingpins Amsterdam today. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240424493653/en/ The LYCRA Company launches a revolutionary new targeted shaping innovation for stretch denim at Kingpins Amsterdam Spring 2024: LYCRA FitSense® denim technology. (Photo: Business Wire) LYCRA FitSense® denim technology is a shaping technology engineered to provide a unique fit solution to consumers of all body types and shapes. Its advanced shaping effect delivers targeted support to common trouble spots that can impact garment fit, such as the tummy and waist, thighs and rear, offering a customizable fit solution that is a breakthrough for the denim industry. “Targeted support is engineered in

Strike Launches Bitcoin App in Europe24.4.2024 17:00:00 EEST | Press release

Strike, the global bitcoin app, today announced the launch of its platform to eligible customers in Europe. Strike Europe introduces a comprehensive suite of features designed to empower millions of people with access to Bitcoin. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240424407807/en/ Strike Europe App (Photo: Business Wire) Customers can sign up in a few clicks, seamlessly and securely buy bitcoin with free, instant, and unlimited deposits, and sell, send, and withdraw just as easily. The platform also facilitates global payments and offers advanced Bitcoin and Lightning wallet services. Strike is available for download on iOS and Android app stores. Key features of Strike Europe include: Buy bitcoin directly with free unlimited SEPA Euro deposits from your bank account Sell bitcoin and withdraw the funds directly to your SEPA bank account Withdraw bitcoin to self-custody or send it to any Bitcoin or Lightning walle

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye