Carbon Recycling International (CRI) and Dastur Energy Enter Into a Partnership Agreement for Developing CO2 to Methanol Projects in India
15.9.2022 07:30:00 EEST | Business Wire | Press release
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220914005880/en/
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
Suzano Reports 36% Increase in Third Quarter Net Revenue Following Consolidation of Arbex6.11.2026 01:23:00 EET | Press release
Suzano (B3: SUZB3 / NYSE: SUZ) , the world’s largest pulp producer, announces its results for the third quarter of 2026 (3Q26), which for the first time include Arbex, the joint venture between Suzano and Kimberly-Clark established in July this year. Driven primarily by the consolidation of Arbex’s contribution, Suzano reported net revenue of BRL16.5 billion, an increase of 36% on the same period last year and a new quarterly record in the company’s 102-year history. Adjusted EBITDA totaled R$5.7 billion in 3Q26, up 9% on the same basis of comparison. Operating cash generation reached R$3.8 billion, an increase of 12%. Net income totaled R$2.1 billion. As announced following the completion of the transaction with Kimberly-Clark, Suzano holds a 51% equity interest in Arbex and will therefore fully consolidate the joint venture’s financial statements from this quarter onwards.1 “This quarter marks the beginning of a new phase for Suzano. With Arbex, we are now a broader business, both ge
iQmetrix Unveils Built-In Intelligence for Every Role in Telecom Commerce at Its 2026 Telecom Industry Address5.11.2026 23:39:00 EET | Press release
iQmetrix, the global provider of Intelligent Commerce Operating Systems for telecom, last week shared highlights from its 2026 Telecom Industry Address and Product Announcements, held virtually on Oct. 28 in two sessions, one for North American audiences and one for European audiences. The address was built around one theme: intelligence. Telecom commerce is moving from systems that record the business to systems that act on it, and the announcements put that intelligence in the hands of every role, from the sales associate at the counter, to the finance manager in the back office, to the corporate view leading the channel experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261105003162/en/ "Right now telecom providers are competing in a race to the bottom on price that no one wins. The way out is intelligence. Not AI bolted onto a fragmented tech stack, but intelligence built into how commerce runs. Information plus
Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)5.11.2026 23:30:00 EET | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to nine newly hired non-executive employees. The equity awards were granted on November 2, 2026, and consisted of options to purchase an aggregate of 59,275 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 28,200 shares. These options have an exercise price per share equal to $8.41, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restricted s
Graco QUANTM i230 Brings Electrification to High-Flow Fluid-Transfer Applications5.11.2026 23:16:00 EET | Press release
Graco Inc. is helping manufacturers electrify high-flow fluid-transfer applications with the global launch of the 3-inch QUANTM® i230, bringing efficient electric drive technology to demanding processes that have traditionally relied on pneumatic pumps. Paint, coatings and ceramics manufacturers depend on diaphragm pumps for their flexibility, reliability and ability to handle challenging materials. But pneumatic pumps also depend on compressed air — an energy-intensive plant resource whose available capacity can fluctuate as demand changes across a facility. The QUANTM i230 gives manufacturers another option for qualified high-flow applications. By combining familiar diaphragm pump capabilities with electric operation, the pump helps manufacturers move more material, reduce transfer bottlenecks and lower energy consumption by up to 80% compared to pneumatic pumps, while maintaining operating flexibility. “High-flow processes in industries like paint, coatings and ceramics have continu
ThetaRay Named World’s Best Software Provider for AML and Sanctions Screening in the 2026 Euromoney Transaction Banking Awards5.11.2026 20:30:00 EET | Press release
ThetaRay, a global leader in AI-native financial crime compliance infrastructure, has been named The World’s Best Software Provider for AML and Sanctions Screening at the 2026 Euromoney Transaction Banking Awards. Evaluated by Euromoney’s editorial and research team, ThetaRay was recognized for technology excellence, verifiable performance, and advancing the modern transaction banking value chain. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261105714764/en/ The recognition reinforces ThetaRay’s standing as foundational compliance infrastructure for global institutions, closely following Chartis Research ranking ThetaRay #8 globally in the Financial Crime and Compliance50 (FCC50) 2026 report and naming the company a Category Winner for Explainable AI. “Our customers operate on the front lines against illicit networks exploiting the speed and scale of modern payment rails, which means defensive technology must meet and outp
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