P1 FUELS AND CARBON RECYCLING INTERNATIONAL (CRI) SIGN CONTRACT TO DELIVER E-FUEL PRODUCTION UNIT TO GERMANY
OP28 ANNOUNCEMENT HIGHLIGHTS PARTNERSHIP'S COMMITMENT TO SUSTAINABLE FUEL SOLUTIONS
Dubai, December 6, 2023 - P1 Performance Fuels, a trailblazer in fossil-free synthetic fuel, announces a transformative collaboration with Carbon Recycling International (CRI) to drive e-fuel production for internal combustion engine (ICE) vehicles. P1 Fuels has signed a contract with CRI, a global leader in clean methanol technology, for delivery of an e-methanol production unit. The collaboration focuses on integrating CRI's innovative Emissions-to-Liquids (ETL) technology with P1's proprietary methanol to
gasoline technology to produce low cost e-fuels that can be used in cars without engine modification.
The strategic partnership aims to accelerate the shift towards replacing fossil fuels for ICE vehicles, contributing significantly to global climate goals. This announcement is made in the backdrop of the COP28 Climate Action Zone, underscoring the urgency of adopting green technologies for reaching the climate goals.
By leveraging both technologies, this enhancement will enable the production of synthetic gasoline from methanol, derived solely from CO₂ and Hydrogen (H₂). P1’s demonstrator plant leveraging this technology will go live in 2024 and serve as a blueprint for industrial sized plants. This initiative aligns with the global momentum towards sustainable fuels and complements ongoing efforts to make the 1.3 billion ICE vehicles on our planet more environmentally friendly.
“We are extremely happy to cooperate with P1 and to deploy our technology into this project. Furthermore, it is yet another demonstration of the diversity of CRI’s ETL technology. It emphasizes the important role technology plays in the Energy transition and fight against climate change. We need to utilize the existing, proven technology available today and take action.”
“I’m thrilled to have CRI join us on our ambitious journey to replace fossil fuels for the 1.3 billion cars on our roads that would otherwise rely on fossil fuels, as we make this announcement in the COP28 Climate Action Zone, it exemplifies our commitment to immediate and impactful climate action through innovative, green solutions for all ICE vehicles”
In addition to supplying the equipment, CRI will collaborate closely with P1 Fuels to ensure seamless integration, provide operational support during the start-up phase, and train P1's team for optimal plant performance.
Both companies envision e-fuels as a scalable and sustainable solution for all modes of transportation, requiring no modifications to existing infrastructure or vehicle engines, and providing cost-effective liter prices for the mass market.
Attending the signing event at COP28 was the Icelandic Minister of Energy, Environment and Climate Mr. Guðlaugur Þór Þórðarson (center) in addition to representatives of CRI (left) and P1 fuels (right)
“The partnership between Carbon Recycling International (CRI) and P1 sends a strong message at COP28 to the world that there are validated solutions out there that are ready for application and mass scaling. CRI‘s unique Emissions To Liquid e-methanol technology is a great example of a solution that came out of Iceland and has already been deployed at scale. We have a longstanding history of working with Germany and the partnership also underpins how the two countries are uniting, acting and delivering together through commercial partnerships”
About P1 Fuels
P1 Fuels is the global leader in fossil-free fuels for the automotive industry, which serves as a seamless drop-in solution for all petrol engines. P1’s trailblazing technology in the production of fossil free fuels provides a scalable solution for the decarbonization of internal combustion vehicles.
Having proven their performance in challenging conditions, P1 fuels have been utilized in international motorsport since 2018, powering racing cars, classic vehicles, and endorsed by over 20 automotive suppliers and OEMs. P1 Fuels is the exclusive fuel supplier to various racing championships including FIA World Rally Championship (WRC), FIA Karting Championship and many others.
The German green tech company's primary objective is to scale up the production of fossil-free synthetic fuels using CO₂ and green hydrogen. To achieve this, P1 Fuels is establishing an e-fuels demonstration plant in Germany, scheduled to commence operations in 2024, with plans for an industrial production plant in 2029.
About CRI
CRI is a recognized technology leader in the Carbon Capture and Utilization market, offering a one-of-a-kind CO₂ to methanol solution. Founded in 2006 in Iceland, CRI has its origins in producing and selling the world‘s first certified E-methanol. Since then, the company has extended its reach by developing, scaling, and deploying CO₂ to methanol plants worldwide.
Today, CRI provides a comprehensive range of end-to-end solutions, including its proven-at-scale ETL technology. With its current technology portfolio capacity to recycle over 300,000 tonnes of CO₂ annually, the company stands at the forefront of harnessing carbon emissions and hydrogen for sustainable fuels and chemical production.