Project Air selected by EU Innovation Fund as one of 17 projects to share funding of EUR 1.8 billion
The European Union Innovation Fund has selected Project Air as one of 17 large-scale green tech projects to be granted more than EUR 1.8 billion. Project Air, which is a collaboration between Perstorp, Fortum and Uniper, has applied for EUR 97 million and the total investment is expected to amount to more than EUR 230 million.
About Project Air
Project Air is an industrial initiative to transform the chemical industry towards climate neutrality, with far-reaching effects throughout industrial value chains. Perstorp Group and partners Fortum and Uniper will produce sustainable methanol for chemical manufacturing using circular production methods, thereby reducing carbon dioxide emissions by 500,000 tons per year, corresponding to the annual emissions of around 340,000 new cars running on fossil fuel.
Project Air receives EUR 30 million from the Swedish Energy Agency
Project Air is an industrial concept to produce methanol from a large variety of recovered end-of-life streams and hydrogen from electrolysis. The project is carried out by the Swedish chemical group Perstorp in cooperation with Uniper (Germany) and Fortum (Finland), and the aim is to reduce carbon emissions by up to half million tons annually. Project Air has now been allocated approximately EUR 30 million by the Swedish Energy Agency.
A world where humans do not engage in chemistry is inconceivable. Since chemistry is so intimately linked to progress, science and civilization, we must however make sure that we handle the power it gives us in a responsible and sustainable way.