China - December 12, 2024 China scales up green methanol production amid rising demand (Voice_over) China is expanding its production of green methanol, widely regarded as a promising alternative to fossil fuels, especially in sectors where decarbonization is a major challenge, like maritime transport. Unlike traditional methanol, which is derived from fossil fuels, green methanol is produced from low-carbon sources like biomass, or through carbon capture. In Yancheng City in east China’s Jiangsu Province, a straw-to-methanol project with an investment of over one billion U.S. dollars is currently underway. The project’s manager said they plan to adopt strict EU standards for their production processes. (Sound_bite) Guo Zhengrong, Manager, Green methanol demonstration project: "We use wheat, rice, and corn straws as biomass feedstock. As it is required to use sustainable material for the whole production process to obtain the EU-recognized certificate, we also use green gas and green electricity. Our factory needs about 3.8 million tons of straws, while in Yancheng alone, there are about 12 million tons of straws. To some extent, it solves one of our environmental problems like agricultural waste." (Voice_over) Industry experts predict China’s green methanol output will reach 8 million tons by 2028. A recent study by MarketsandMarkets shows that the global green methanol market is projected to grow from 1.9 billion U.S. dollars this year to more than 11 billion by the year 2030. [Restriction: No access Chinese mainland]