Green Chemistry Collaboration Wins Support from EU Innovation Fund
The European Union Innovation Fund has selected Project Air, a unique production facility for sustainable methanol in Stenungsund, Sweden, as one of 17 large-scale green tech projects to be granted more than €1.8 billion. Project Air, which is a collaboration between Perstorp, Fortum and Uniper, has applied for €97 million, and the total investment is expected to amount to more than €230 million.
Project Air could be a game-changer for the chemical industry, moving from fossil raw materials to recycled and bio-based feedstock, thereby enabling sustainable chemical products to a large variety of industries and end products. At full capacity, it will reduce global CO2 emissions with close to 500,000 tons from today’s levels, corresponding to 1% of current emissions in Sweden.