Ambassador Visited MFE Shanghai Technology Development Co. Ltd

Ambassador Thorir Ibsen and Yang Li Trade Counsellor were received by James Ma Chairman of MFE and James Xia CEO who presented to them their promotion of Iceland’s Carbon Recycling International in China. Carbon recycling is a key technology for climate mitigation and the circular economy.

Carbon Recycling International is the globally-recognised leader in CO2 to methanol technology, operating at industrial scale since 2012. This year, Chinese petrochemicals corporation Jiangsu Sailboat Petrochemicals Co. ltd has signed an agreement with Carbon Recycling International – CRI hf., to design a chemical plant based on CRI’s Emissions to Liquids (ETL) technology. The plant will recycle approximately 150,000 metric tons of CO2 and 20,000 metric tons of H2 per year from other onsite processes to produce 100,000 tons of methanol annually. CRI, with its local JV partner MFE, will facilitate the project execution, providing design, engineering and technology license for the CO2-to-methanol process along with key proprietary equipment and related services.