- European Energy has recently secured a 50-year lease agreement with the port of Victoria.
- The facility is set to utilize renewable solar and wind energy.
- This substance is poised to revolutionize the shipping industry.
European Energy has recently secured a 50-year lease agreement with the Victoria County Navigation District (Port of Victoria) in Texas. This collaboration aims to establish a cutting-edge e-methanol facility in the Port’s North Industrial Park, reports Port News.
Green Production Process
The facility is set to utilize renewable solar and wind energy to produce approximately 100,000 tons of e-methanol annually. The innovative process involves splitting water (H2O) into green hydrogen and oxygen, with the green hydrogen, alongside biogenic carbon dioxide (CO2), synthesized on-site to yield e-methanol.
Economic Impact and Job Creation
With a commitment to a Final Investment Decision (FID), European Energy plans to invest hundreds of millions in Port infrastructure. This investment is projected to generate over 200 jobs during the construction phase and sustain 60 local jobs thereafter.
Expanding Global Presence: Kassø Facility in Denmark
World’s Largest E-methanol Facility
Simultaneously, European Energy is on the verge of completing the world’s largest e-methanol facility at the Kassø facility in Denmark, boasting a production capacity of 32,000 tons/year of e-methanol.
Prominent Off-Takers
Leading companies such as A.P. Moller Maersk, Novo Nordisk, and the LEGO Group have already committed to being off-takers of the e-methanol produced at the Kassø facility.
This versatile substance is poised to revolutionize the shipping industry as fuel, serve as a raw material for sustainable green plastics, and be blended in heavy transport, significantly contributing to the ongoing energy transition by displacing fossil fuels.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Port News
