LANDSVIRKJUN
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
Bureau Veritas to Acquire a Leading Sustainability Specialist for Consumer Products in Italy23.1.2026 18:13:00 CET | Press release
Bureau Veritas, a global leader in Testing, Inspection, and Certification services (TIC), announces the acquisition of SPIN360, a leading Italian consulting firm specialized in sustainable innovation and development across primary premium fashion and luxury brands. This acquisition aligns with Bureau Veritas’ LEAP | 28 strategy to create new strongholds in the Consumer Product Services (CPS) industry, and to accelerate its growth in key markets such as Italy. The transaction will deliver on value creation opportunities, by combining SPIN360's proprietary Life Cycle Assessment (LCA) tools and data-driven advisory services with Bureau Veritas' certification and supply chain auditing expertise. It will also help position Bureau Veritas as a global center of excellence for premium fashion and luxury. Created in 2009 and based in Milan, SPIN360 provides technical advisory services covering LCA, life cycle costing, environmental product declarations, carbon footprint, supply chain engagement
HCLTech to Acquire Singapore-based Finergic to Boost Digital Transformation Offerings for Wealth Management Industry23.1.2026 17:55:00 CET | Press release
HCLTech, a leading global technology company, today announced that it has signed a definitive agreement to acquire Finergic Solutions Pte Ltd, a boutique wealth consulting firm headquartered in Singapore. The transaction is expected to close by April 30, 2026. Founded in 2019, Finergic focuses on core banking and wealth management transformation and has a strong, well-established global presence. The addition of Finergic’s niche capabilities, combined with the scale of HCLTech, is expected to unlock stronger synergies and enhance service delivery across the financial services and wealth management industry. HCLTech brings 25+ years of global experience in serving leading financial institutions. By integrating Finergic’s specialized transformation strategy, consulting and wealth-architecture capabilities, HCLTech will accelerate the delivery of next-generation, platform-enabled wealth management solutions anchored by advanced AI-native workflows. These capabilities will complement HCLTe
Saudi Arabia to Host World Economic Forum Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth on 22-23 April 202623.1.2026 16:29:00 CET | Press release
Saudi Arabia will host the World Economic Forum (WEF) Global Collaboration and Growth Meeting: Building Common Ground and Reviving Growth in Jeddah on 22-23 April 2026, it was announced on the closing day of the 56th Annual Meeting of the Forum in Davos, Switzerland. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260123725881/en/ HE Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning, announces that the Kingdom will host the World Economic Forum Global Collaboration and Growth Meeting in Jeddah in April 2026 (Photo: AETOSWire) His Excellency Faisal F. Alibrahim, Saudi Arabia’s Minister of Economy and Planning today confirmed the details for the regular high-level WEF meeting, which was announced at the 2025 WEF Annual Meeting. Calling for pragmatism and collaboration against a backdrop of geopolitical fragmentation, HE Alibrahim said “stability can’t be quickly built, and it can’t be bought”. “Stability need
Philip Morris International Urges FDA Advisory Committee to Recommend Authorizing ZYN as a Modified Risk Tobacco Product23.1.2026 15:15:00 CET | Press release
In January 2025, ZYN became the first nicotine pouch product authorized for marketing by the FDA Experts from Philip Morris International (PMI) (NYSE: PM) yesterday presented scientific evidence to the U.S. Food and Drug Administration’s (FDA) Tobacco Products Scientific Advisory Committee (TPSAC) as part of the FDA’s process for a Modified Risk Tobacco Product (MRTP) designation for their ZYN nicotine pouch products. This designation would allow PMI’s U.S. family of businesses to communicate to U.S. legal-aged, 21+ adult cigarette smokers that switching completely to ZYN reduces their risk of many smoking-related diseases and we look forward to a decision by FDA. "The FDA’s Center for Tobacco Product’s (CTP) mission is to make smoking-related disease and death a part of America’s past,” said Keagan Lenihan, Chief External Affairs Officer for PMI U.S. “Smoke-free products, like ZYN, play a critical role in helping CTP achieve this mission and provide adults who smoke with important inf
Business4Land Champions’ Council Launched at Davos to Spur Private Sector Action on Land and Drought23.1.2026 14:58:00 CET | Press release
The UNCCD COP16 Presidency, led by Saudi Arabia, and the United Nations Convention to Combat Desertification (UNCCD) Secretariat launched the Business4Land (B4L) Champions’ Council at the World Economic Forum in Davos to mobilize global CEOs and industry leaders in support of large-scale land restoration. The B4L Champions Council members include ten companies: Nexira, Suzano, Gut & Bösel, Patagonia Provisions/ B.Cameron Consulting, Olam Group, Reservas Votorantim, Genesis Soil Health, EY, Envision Energy, and LVMH The move marks the beginning of a more structured and strategic engagement with the private sector ahead of COP17. TheUnited Nations Convention to Combat Desertification(UNCCD) Secretariat and the UNCCD COP16 Presidency, led by the Kingdom of Saudi Arabia, today announced the official launch of the Business4Land (B4L) Champions’ Council at a high-level event hosted at InTent during the World Economic Forum (WEF) Annual Meeting in Davos. This press release features multimedia
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