Termination of Power to Methanol Antwerp BV due to economic challenges and high energy costs

In 2019, the collaborative effort of seven prominent industrial and business partners (Advario, ENGIE, Fluxys, Indaver, INOVYN, ParticipatieMaatschappij Vlaanderen and Port of Antwerp-Bruges) led to the inception of the 'Power to Methanol Antwerp BV' consortium.

The ambitious project aimed to produce 8000 tonnes of e-methanol, a sustainable alternative to traditional methanol, by combining captured CO2 with hydrogen generated from renewable electricity. This initiative was set to significantly reduce carbon emissions by avoiding at least one ton of CO2 for every ton of e-methanol produced.

Regrettably, despite all concerted efforts, the project's economic viability has come under significant strain. Escalating costs, primarily influenced by the ongoing energy crisis and geopolitical uncertainties, have rendered the production of e-methanol financially unfeasible. The substantial increase in e-methanol production costs no longer aligns with the pricing expectations of the transport sector and major industrial buyers.