ET Fuels plans to produce synthetic methanol in Ranua, Finland
The Irish company ET Fuels is planning a plant in Ranua to produce green methanol. The investment would be worth €800 million.
Synthetic methanol would be used in ships to replace fossil fuels.
ET Fuels estimates that the plant would create around 60 direct jobs and around 400 indirect jobs. The company also currently has projects in Spain and the United States.
The methanol plant would be powered by 35-50 wind turbines of its own, which would not be connected to the electricity grid. The Finnish state-owned company Neova would be responsible for the wind farm project in the old peat production area of Näätäaava.
Methanol synthesis involves adding carbon dioxide to hydrogen and producing green methanol as a final product. The carbon dioxide used in the synthetic methanol production process is recovered from industrial processes.
Synthetic methanol and renewable ammonia are expected to replace diesel as a marine fuel as shipping companies look for emission-free ways to transport cargoes around the world's oceans.
