Swedish chemical producer Perstorp (Malmö; www.perstorp.com) said it will receive EUR 97 mn from the EU’s Innovation Fund to support its Project Air, which the company touts as a “critical enabler” for the European chemical industry to become carbon neutral.

To be realised at Perstorp’s existing facilities in Stenungsund, Sweden, Project Air will strengthen the regional chemicals industry cluster Hållbar Kemi 2030 as well as have “far-reaching effects” on many industrial chains and help end Europe’s dependence on imported fossil fuels, the company said.

In leveraging carbon capture and utilisation processes for converting CO₂, residue streams, renewable hydrogen, and biomethane, Perstorp said it believes its new technology – in particular through the use of sustainable biomethane – is capable of achieving a relative decrease of 123% in greenhouse gas emissions compared with conventional methanol synthesis.

CEO Jan Secher said he hopes that other companies will follow Perstorp’s lead and develop similar technologies aimed at enabling circular production processes that utilise residue streams and captured carbon.

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“From an energy standpoint, Project Air is a game-changer for the transition of the chemical industry,” added David Bryson, chief operating officer of German power conglomerate Uniper (Düsseldorf; www.uniper.energy), a participant in the project.

In 2022, Perstorp was bought by Malaysia’s state-owned Petronas Chemicals Group (PCG), the petrochemicals arm of the country’s oil and gas company Petronas (Kuala Lumpur; www.petronas.com – see Plasteurope.com of 08.05.2022).