White Summit Capital, an infrastructure investment firm with a presence in Spain, has unveiled plans to invest EUR 250 million in the construction of a methanol production plant using sustainable technologies and environmentally friendly methods. And according to Reuters, the new plant will be located in the port of Gijón, Asturias.
This facility will harness green hydrogen and carbon dioxide captured from nearby industries to generate green methanol. The investment will be made through HyFive, White S.’s green hydrogen subsidiary, and will be funded by the European Union. s green hydrogen subsidiary, HyFive, and will be funded by the European Union. The project will be officially presented next Tuesday.
Green methanol production plant in Asturias.
[post_relacionado]With a capacity of 50 MW for the electrolysis required to produce green hydrogen, the plant will come on stream in 2027, with an estimated annual production of 100,000 tons of green methanol. Subsequently, the installed electrolysis capacity is expected to double to 100 MW.
The green methanol is essential to decarbonize sectors that are difficult to electrify, such as shipping. Green hydrogen and carbon captured from the atmosphere or from agricultural and forestry residues are used for its production, replacing fossil methanol and thus reducing carbon emissions in industries such as chemicals, plastics and long-distance shipping.
By 2050, methanol demand is expected to triple to 300 million tons per year, most of which will be green methanol.
White Summit Capital’s activity
White Summit Capital is dedicated to energy transition investments, with offices in Switzerland, Spain and the United Kingdom. Its portfolio includes Spain’s Zunder, which specializes in electric vehicle chargers, and Ferbgas Renewable, a Portuguese biomethane producer.
In 2024, White Summit Capital secured €150 million from the European Investment Fund to create an infrastructure fund focused on decarbonization.
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Source: hydrogen-green
Photo: whitesummitcap