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Methanex and Entropy Partner to Reduce Emissions in Methanol Production
Methanex and Entropy Partner to Reduce Emissions in Methanol Production Canada NewsWire...
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[{"type":"text","content":"\n \n \n \n Methanex and Entropy Partner to Reduce Emissions in Methanol Production\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n Leading Canadian Companies Enter Pre-FEED for Carbon Capture Utilization and Sequestration Deployment in\n \n Alberta\n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n and\n \n CALGARY, AB\n \n \n ,\n \n \n July 17, 2024\n \n \n /CNW/ - Methanex Corporation (\"Methanex\") (TSX:MX) (NASDAQ:MEOH), one of the world's largest methanol producers and suppliers and Entropy Inc. (\"Entropy\"), a leader in carbon capture and storage solutions, have entered into an agreement to invest in a Preliminary Front-End Engineering and Design (\"Pre-FEED\") study for carbon capture, utilization and sequestration (\"CCUS\") deployment at Methanex's\n \n Medicine Hat, Alberta\n \n facility. This collaboration will leverage Entropy's proprietary modular post-combustion carbon capture technology and Methanex's manufacturing expertise to utilize a portion of the captured CO\n \n 2\n \n to produce additional methanol, showcasing the leadership of two Canadian companies in the low-carbon transition. Upon final investment decision, Entropy will construct and own the capture equipment adjacent to Methanex's facility and Methanex will supply the utilities, build the tie-ins to its facility and operate the capture equipment once commissioned.\n \n \n \n Key Project Highlights:\n \n \n \n \n \n Emissions capture:\n \n targets approximately 400 tonnes of CO\n \n 2\n \n per day.\n \n \n \n Economic impact:\n \n involves an investment of approximately CAD\n \n $100 million\n \n (~USD\n \n $75 million\n \n ), the largest portion of which will come from Entropy. The investment is expected to create about 200 construction jobs and several permanent jobs once operational.\n \n \n \n Innovative use of CO\n \n 2\n \n :\n \n a portion of the captured CO\n \n 2\n \n will be used as feedstock to produce approximately 50,000 tonnes annually of additional methanol, with the ...