CARBONCO, a company specializing in decarbonization solutions established by DL E&C Co., Ltd (DL ENGINEERING & CONSTRUCTION), has announced its participation in the Jeju Island Green Methanol Production Project.

The agreement for this collaboration was formally signed by CARBONCO, Jeju Energy Corporation, Gaoncell, and ThyssenKrupp at a ceremony held on August 31, at the ThyssenKrupp Carbon Chemical Conversion Technology Center in Duisburg, Germany. The event was attended by key representatives from each organization, including CARBONCO Business Performance Director Mr. Kyung-ho Seo, ThyssenKrupp's Head of Process Methanol at Carbon2Chem Technology Center, Dr. Alexander Schulz, Jeju Energy Corporation Director Mr. Song-do Kim, and Gaoncell CEO Mr. Kyeong-yong Yoon.

The primary objective of this agreement is to leverage the unique strengths and expertise of each company to establish a renewable energy storage system that aligns with Jeju Island's vision of becoming a Carbon-Free Island (CFI). Notably, this project marks a significant milestone as Korea's inaugural Power to X (P2X) initiative driven by a collaborative effort between the public and private sectors. P2X is an advanced conversion technology designed to store and utilize renewable energy with variable outputs in various forms, including hydrogen, methanol, and ammonia.

As part of the agreement, Jeju Energy Corporation will supply renewable energy harnessed from sources such as wind power. This renewable energy will play a pivotal role in producing green hydrogen through the electrolysis of water, resulting in the creation of oxygen and hydrogen. The green hydrogen will then be synthesized with carbon dioxide obtained from nearby emission sources to produce e-methanol.

ThyssenKrupp, in its capacity as the original technology licensor for the e-methanol production process, will provide the essential facilities for green hydrogen generation, along with technological expertise and equipment. Gaoncell will oversee the entire business development and operation, acting as the future purchaser of the e-methanol generated for use as a raw material in fuel cells supplied to the market.

CARBONCO's responsibilities in this collaborative endeavor encompass the development and operation of a system that captures and supplies carbon dioxide as a raw material for e-methanol production. Leveraging its proprietary carbon capture and storage technologies, the company will be actively involved in all aspects of the project. This includes tasks ranging from engineering design and equipment procurement to construction, as well as the operation and maintenance of e-methanol production facilities.

The Jeju Island Green Methanol Production Project represents a pioneering effort to integrate environmentally favorable energy sources and cutting-edge technologies to realize the vision of a Carbon-Free Island. Through this collaboration, CARBONCO, along with its partners, aims to contribute significantly to decarbonization efforts while fostering sustainable practices and solutions in the energy sector.