St1 plans to build a synthetic methanol plant in Finland
In Finland, energy company St1 said it is planning what would be the first synthetic methanol plant in the country, which will be located next to the Finnsementti factory at the Ihalainen industrial site in Lappeenranta.
The firm said that the Finnish Ministry of Economic Affairs and Employment has granted a funding of $34.8 million to St1’s Power-to-Methanol Lappeenranta project, which aims to produce renewable synthetic methanol to replace fossil fuels used in maritime and road transport.
St1 also noted that the plant will produce about 25,000 tons of synthetic methanol per year.
“The Nordic market for synthetic fuels will grow considerably in the coming years. The timetable of our pilot project would allow Finland access the first wave of industrial applications and, consequently, the establishment of the synthetic methanol market and solution scaling. The project will also provide the involved parties with important expertise, which will also be used in advancing other Power-to-X projects,” said St1’s Head of Energy Transition Business, Riitta Silvennoinen.
Category: Fuels
