LANDSVIRKJUN
11.4.2022 20:02:06 CEST | Business Wire | Press release
Landsvirkjun, The National Power Company of Iceland, and German investment company PCC SE have agreed to jointly explore the possibility of capturing and utilizing carbon emissions from PCC’s silicon metal plant in northeast Iceland. Carbon emissions will be utilized to produce green methanol that can for example replace fossil fuel in ships.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220411005136/en/
Green methanol will play a role in mitigating climate change
Methanol is not only a liquid chemical used in thousands of products of daily use, but green methanol is seen by many as a promising alternative energy carrier to fossil fuels and has the potential to play a key role in decarbonizing shipping vessels. The production of green methanol requires a renewable carbon source from PCC’s silicon metal plant in Iceland and renewable power from Landsvirkjun´s power stations. The process of methanol synthesis requires the input of pure carbon dioxide and hydrogen from water electrolysis, with the only by-product being oxygen and water. Turning carbon dioxide from waste into a valuable resource by utilizing and producing fuel for industries will help mitigate climate change and the transition to a circular economy.
Silicon metals used in innovative solutions for energy transition
PCC SE aims for their silicon metal plant at Húsavík to become carbon neutral by replacing fossil carbon reductants in their production with renewable alternatives. The plant at Bakki emits about 150,000 tonnes of carbon dioxide annually due to the nature of the chemical reaction that reduces quartzite (SiO2 ) with a carbon reductant to produce silicon metal. Catching and utilizing the emitted renewable carbon to produce green methanol would improve the carbon footprint of ships and industry utilizing such fuel and on top improve the carbon footprint of PCC’s silicon metal plant beyond carbon neutrality. Furthermore, the nature of silicon metals is such that without it, we would neither see the current stellar performance of solar power in the European Union, nor innovative solutions such as next generation battery anodes, which are key to higher capacities.
Peter Wenzel, CEO PCC SE:
“We are ready to take the next step at PCC BakkiSilicon; capture carbon emissions from our production and utilise for the energy transition. Our operations are already on track for carbon neutrality, but the production of green methanol, which can be used as maritime fuel, would certainly be a milestone.”
Hörður Arnarson, CEO Landsvirkjun:
“We at Landsvirkjun welcome the opportunity to collaborate on a green solution with a good customer. The energy transition is urgent, especially in the fleet. If we can use our renewable electricity to produce green methanol at PCC BakkiSilicon, we are one step closer to a green future.”
View source version on businesswire.com: https://www.businesswire.com/news/home/20220411005136/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Visa Data Shows Stablecoins Gaining Traction in Business Payments1.10.2026 14:00:00 CEST | Press release
New Visa data shows nearly 17%1 of stablecoin-linked card volume is occurring across business and commercial card programs, underscoring growing adoption of stablecoins for settlement, treasury management and cross-border commerce. Today, Visa (NYSE: V) shared new data showing the growing adoption of stablecoins across business payments and commercial card programs, underscoring how stablecoins are increasingly being used as financial infrastructure. The findings come as businesses, financial institutions and payment providers increasingly explore stablecoins for settlement, treasury management, payouts and cross-border commerce. New Visa data shows: Approximately 17% of stablecoin-linked card volume in FY26 year-to-date occurred across business and commercial card programs. Visa today supports more than 160 stablecoin-linked card programs spanning consumer, business and commercial card activity. Payments volume across these programs has grown nearly 200% year over year. Businesses are
Moody’s Analytics and Allvue Launch Credit Risk Model to Identify Early Signs of Borrower Stress in Private Credit1.10.2026 14:00:00 CEST | Press release
Moody’s Analytics EDF-X Private Credit Model, powered by Allvue data, gives investors and lenders an earlier view of borrower stress in a rapidly growing market Moody’s Corporation (NYSE: MCO), a global leader in risk assessment and credit analytics, and Allvue Systems, LLC, a leading technology and data provider for private capital markets, today announced the launch of the Moody’s Analytics EDF-X Private Credit Model, a new forward-looking credit risk model purpose-built for the private credit market. Built on Moody’s deep credit expertise and Allvue’s private credit performance data, the model identifies early signals of borrower stress, such as covenant waivers and payment-in-kind arrangements, well before they show up as missed payments or defaults. Moody’s projects private credit to approach $4 trillion in assets by 2030, and investors and lenders are increasingly seeking earlier visibility on where risk is building across portfolios. Unlike public credit markets where participan
New Research: Organizations with Strong Process Context 5x More Likely to Deliver Successful AI Outcomes1.10.2026 14:00:00 CEST | Press release
The Hackett Group®and ARIS study reveals a growing execution divide as enterprise AI ambition outpaces operational readiness Organizations with strong process context are five times more likely to report very successful AI outcomes, according to new research from The Hackett Group® and ARIS, highlighting the critical role business understanding plays in enabling enterprises to deploy agentic AI at scale. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261001144480/en/ The Process Context Study 2026 found that companies experienced with strong process context were 5x more likely to be seeing successful outcomes from AI The Process Context Study 2026 examines how prepared Global 2000 companies are to deploy agents into core business processes and how process context is key to agents operating reliably and securely at enterprise-level, driving measurable new business value. The findings expose a significant gap between enterpris
NetApp Recognizes Winners of 2026 North America Partner Awards1.10.2026 14:00:00 CEST | Press release
NetApp commends partners for success in helping deliver NetApp solutions and services that address customer needs and industry trends NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced at NetApp INSIGHT 2026 the winners of its North America Partner Awards for Fiscal Year 2026 (FY’26). NetApp’s strategic partnerships aid in providing NetApp products and solutions to solve the business challenges of their joint customers. The North America Partner Award winners have been instrumental in helping customers to build an Intelligent Data Infrastructure through the NetApp Platform, that can securely evolve and scale with their needs by driving sales of NetApp’s solutions and services. Each winning partner has demonstrated a thorough understanding of the NetApp portfolio and has proven their ability to leverage NetApp’s innovative solutions and services to give customers the confidence they need to overcome today’s biggest technology challenges. “Now more than
Thales Unveils a Global Framework to Protect Critical Organisations from Frontier AI Attacks1.10.2026 13:18:00 CEST | Press release
Thales believes that frontier models call for a revolution in the pace of cyber defence: while the fundamentals of cybersecurity remain valid, they must now be executed at machine speed, without ever relinquishing human judgement over the decisions that matter.Today, Thales unveiled an end-to-end framework to help critical organisations counter a new generation of cyber threats, spanning application security, detection and response, a global cyber defence platform, continuous evaluation and critical-asset resilience.As adversaries attack, adapt and multiply at machine speed, simply stacking isolated tools is no longer enough. Thales positions AI-driven, automated defence under human oversight as an essential evolution of cyber defence. At the Thales Cyber Summit held in Paris (France) , Thales today unveiled a global response to the challenges created by Frontier AI models. Reasoning, autonomy and scale of these cutting-edge systems far exceed previous generations, and can accelerate v
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom