PLAGEN, HYOJIN E&HY, and ReCarbon have joined forces in Seoul to embark on a groundbreaking green methanol project. By employing plasma technology in a biomass-based production plant, PLAGEN aims to increase green methanol output to 20,000 tons annually.
The strategic partnership will leverage ReCarbon’s expertise in plasma technology for syngas production and HYOJIN E&HY’s water electrolysis technology for hydrogen generation, ensuring enhanced system yields. This initiative aligns with global efforts to combat climate change, meeting the International Maritime Organization’s target of achieving net-zero carbon emissions by 2050. With the potential to transform the renewable energy market and bolster the local economy, this commercialization example sets the stage for sustainable methanol production.
As the world works towards reducing carbon emissions, the demand for carbon-neutral fuels has never been greater. The International Maritime Organization’s ambitious goal of achieving net-zero carbon emissions by 2050 has prompted the shipping industry to transition from traditional non-carbon-neutral fuels to greener alternatives. Green methanol, with its potential to significantly reduce carbon emissions, has emerged as a promising solution. With global methanol demand projected to exceed 500 million tons by 2050, the need for clean methanol is expected to reach 385 million tons. In South Korea, where all 2.2 million tons of methanol is currently imported, the domestic market for clean methanol is predicted to reach 500,000 tons by 2028.
At the heart of this innovative project lies plasma technology—a highly reactive state of matter generated by energizing gas. ReCarbon’s Plasma Carbon Conversion Unit (PCCU) takes center stage, transforming greenhouse gases like carbon dioxide and methane into hydrogen and carbon monoxide of high value. This breakthrough technology enables cost-effective operations and the production of carbon-neutral raw materials. By integrating plasma technology with biomass-based green methanol production and water electrolysis for green hydrogen generation, the collaboration aims to revolutionize the entire process of carbon-neutral fuel production.
The envisioned 20,000-ton annual green methanol production plant promises significant economic and environmental benefits. The project is expected to generate approximately KRW 84 billion in production-induced effects, KRW 35 billion in value-added effects, and provide employment opportunities for around 330 individuals. The local economy in Donghae City stands to gain from this venture, while the renewable energy market will witness expansion and growth. With the successful commercialization of the plasma carbon conversion business, this project serves as a prime example of sustainable methanol production, paving the way for a cleaner and more sustainable future.